10-Q Filing

GRAPHENE & SOLAR TECHNOLOGIES LTD CIK: 1497649 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001903596-24-000151`
Period End Date	20231231
Filing Date	20240327
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	gstx_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 24 Cash Flow Statement 56 Stockholders Equity 15

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Furniture and equipment, net of depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$81.70K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$1.09K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$23.79K	USD	Point-in-time
Perferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Perferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.77K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.11K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.20K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$35.56K	USD	Point-in-time
Furniture and equipment, net of depreciation $81,701	`PropertyPlantAndEquipmentNet`	$937.00	USD	Point-in-time
Furniture and equipment, net of depreciation $81,701	`PropertyPlantAndEquipmentNet`	$904.00	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Intellectual property at cost, net	`IntellectualPropertyAtCost`	$1.00	USD	Point-in-time
Intellectual property at cost, net	`IntellectualPropertyAtCost`	$1.00	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
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
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	-	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	421.29M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	421.89M	shares	Point-in-time
Other receivable	`AccountsAndOtherReceivablesNetCurrent`	$4.01K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	421.29M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	421.89M	shares	Point-in-time
Total Assets	`Assets`	$18.13K	USD	Point-in-time
Total Assets	`Assets`	$37.44K	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.59M	USD	Point-in-time
Accounts payable and other payable	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.72M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$192.31K	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$184.85K	USD	Point-in-time
Due to related party	`DueToRelatedParty`	$1.99M	USD	Point-in-time
Due to related party	`DueToRelatedParty`	$2.25M	USD	Point-in-time
Notes payable, $60,000 in default	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Notes payable, $60,000 in default	`NotesPayableCurrent`	$60.00K	USD	Point-in-time
Notes payable related party	`OtherLoansPayableCurrent`	$71.96K	USD	Point-in-time
Notes payable related party	`OtherLoansPayableCurrent`	$71.71K	USD	Point-in-time
Convertible notes payable, $100,747 in default	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Convertible notes payable, $100,747 in default	`ConvertibleNotesPayableCurrent`	$100.75K	USD	Point-in-time
Convertible notes payable related party, net of discount $16,106 and $0	`ConvertibleNotesPayableRelatedPartyNetOfDiscount16106And0`	-	USD	Point-in-time
Convertible notes payable related party, net of discount $16,106 and $0	`ConvertibleNotesPayableRelatedPartyNetOfDiscount16106And0`	$33.89K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.43M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.43M	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; 421,292,610 and 421,892,610 shares issued and outstanding	`CommonStockValue`	$4.22K	USD	Point-in-time
Common stock: 500,000,000 shares authorized; $0.00001 par value; 421,292,610 and 421,892,610 shares issued and outstanding	`CommonStockValue`	$4.22K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$63.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$63.88M	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`	$-68.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-68.38M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-193.85K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-302.98K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity2`	$-4.98M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity2`	$-5.39M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$37.44K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$18.13K	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Professional Services	`ProfessionalFees`	$134.85K	USD	1 Quarter
Professional Services	`ProfessionalFees`	$342.73K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$42.79K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$24.41K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$367.15K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$177.65K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-177.65K	USD	1 Quarter
Loss from operations	`IncomeLossFromContinuingOperations`	$-367.15K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$8.04K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$6.30K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.11K	USD	1 Quarter
Interest expense	`InterestExpense`	$10.03K	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$1.19K	USD	1 Quarter
Total Other Income (Expense)	`OtherNonoperatingIncomeExpense`	$-1.99K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$176.46K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$369.14K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss1`	$-478.27K	USD	1 Quarter
Net Comprehensive Loss	`NetComprehensiveLoss1`	$-250.91K	USD	1 Quarter
Basic and diluted	`BasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`BasicAndDiluted`	-	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted1`	421.77M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted1`	374.31M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ProfitLoss`	$-369.14K	USD	1 Quarter
Net Income (loss)	`ProfitLoss`	$-176.46K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$44.40K	USD	1 Quarter
Depreciation expense	`Depreciation`	$83.00	USD	1 Quarter
Depreciation expense	`Depreciation`	$84.00	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	$2.57K	USD	1 Quarter
Amortization of discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Loss on Settlement of Debt	`LossOnSettlementOfDebt`	-	USD	1 Quarter
Loss on Settlement of Debt	`LossOnSettlementOfDebt`	-	USD	1 Quarter
Accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Impairment of assets	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment of assets	`AssetImpairmentCharges`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$86.26K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$49.27K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$7.46K	USD	1 Quarter
Accrued interest payable	`IncreaseDecreaseInInterestPayableNet`	$5.11K	USD	1 Quarter
Other Receivables	`IncreaseDecreaseInOtherReceivables`	$4.01K	USD	1 Quarter
Other Receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Pre-Payments	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$112.03K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$197.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.97K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-27.35K	USD	1 Quarter
Cash paid for purchase of fixed assets	`CashPaidForPurchaseOfFixedAssets`	-	USD	1 Quarter
Cash paid for purchase of fixed assets	`CashPaidForPurchaseOfFixedAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	$20.00K	USD	1 Quarter
Due to Affiliates	`IncreaseDecreaseDueFromAffiliates`	$250.00	USD	1 Quarter
Issuance of convertible note related party	`DebtDiscountOnNotesPayable1`	$50.00K	USD	1 Quarter
Issuance of convertible note related party	`DebtDiscountOnNotesPayable1`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.25K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.00K	USD	1 Quarter
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-198.00	USD	1 Quarter
Effect of currency translations to cash flow	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$185.00	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$22.70K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.22K	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.79K	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.09K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$23.79K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07K	USD	Point-in-time
Taxes	`InterestPaidNet`	-	USD	1 Quarter
Taxes	`InterestPaidNet`	-	USD	1 Quarter
Issuance of Common Stock as Debt Discount	`DebtDiscount`	$18.68K	USD	1 Quarter
Issuance of Common Stock as Debt Discount	`DebtDiscount`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Long-Term Debt, Gross	`DebtInstrumentCarryingAmount`	$600.00K	USD	Point-in-time
Balance, September 30, 2022	`StockholdersEquity`	$-5.39M	USD	Point-in-time
Balance, September 30, 2022	`StockholdersEquity`	$-4.29M	USD	Point-in-time
Balance, September 30, 2022	`StockholdersEquity`	$-4.04M	USD	Point-in-time
Balance, September 30, 2022	`StockholdersEquity`	$-4.98M	USD	Point-in-time
Stock Based Compensation	`StockGrantedDuringPeriodValueSharebasedCompensation`	$44.40K	USD	1 Quarter
Debt Discount on Notes Payable	`DebtDiscountOnNotesPayable`	$18.68K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-109.13K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-74.45K	USD	1 Quarter
Net loss	`ProfitLoss`	$-369.14K	USD	1 Quarter
Net loss	`ProfitLoss`	$-176.46K	USD	1 Quarter
Balance, December 31, 2022	`StockholdersEquity`	$-5.39M	USD	Point-in-time
Balance, December 31, 2022	`StockholdersEquity`	$-4.29M	USD	Point-in-time
Balance, December 31, 2022	`StockholdersEquity`	$-4.04M	USD	Point-in-time
Balance, December 31, 2022	`StockholdersEquity`	$-4.98M	USD	Point-in-time

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