10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0000721748-14-000059`
Period End Date	20120630
Filing Date	20140121
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	nsct-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 70 Cash Flow Statement 72

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	4.00M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	$11.02K	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	$167.05K	USD	Point-in-time
Cash	`Cash`	$2.60K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.30K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.02K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$169.35K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.03	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	$1.20M	USD	Point-in-time
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	$1.08M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	15.00M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	180.53M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	14,000.00	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	18,000.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.25M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	211.54M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.21M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	180.53M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	211.54M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$225.25K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$180.80K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$65.60K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$13.30K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$159.00K	USD	Point-in-time
Line of credit	`LineOfCredit`	$22.02K	USD	Point-in-time
Line of credit	`LineOfCredit`	$44.53K	USD	Point-in-time
Net liabilities of discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilitiesCurrent`	-	USD	Point-in-time
Net liabilities of discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilitiesCurrent`	$1.76M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$312.88K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.99M	USD	Point-in-time
Note payable affiliate	`NotesPayableRelatedPartiesNoncurrent`	$1.20M	USD	Point-in-time
Note payable affiliate	`NotesPayableRelatedPartiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$3.19M	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$312.88K	USD	Point-in-time
Preferred stock, $.10 par value, 4,000,000 shares authorized; none issued and outstanding as of June 30, 2012 and September 30, 2011	`PreferredStockValueOutstanding`	$40.00K	USD	Point-in-time
Preferred stock, $.10 par value, 4,000,000 shares authorized; none issued and outstanding as of June 30, 2012 and September 30, 2011	`PreferredStockValueOutstanding`	$40.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 211,542,212 and 180,526,879 issued and outstanding as of June 30, 2012 and September 30, 2011, respectively	`CommonStockValueOutstanding`	$1.81M	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 211,542,212 and 180,526,879 issued and outstanding as of June 30, 2012 and September 30, 2011, respectively	`CommonStockValueOutstanding`	$2.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.41M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.82M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$936.57K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.97M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$1.25M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$1.21M	USD	Point-in-time

Income Statement 70 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	-	USD	1 Quarter
REVENUES	`Revenues`	$243.48K	USD	1 Quarter
REVENUES	`Revenues`	$460.17K	USD	3 Qtrs
REVENUES	`Revenues`	-	USD	3 Qtrs
COST OF REVENUES	`CostOfRevenue`	$121.73K	USD	3 Qtrs
COST OF REVENUES	`CostOfRevenue`	$61.73K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	-	USD	3 Qtrs
COST OF REVENUES	`CostOfRevenue`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$338.43K	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$181.75K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$153.04K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$222.58K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$78.61K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$69.84K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$22.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$55.50K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$97.00K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$55.00K	USD	1 Quarter
Impairment of assets	`AssetImpairmentCharges`	$6.00K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$4.00K	USD	1 Quarter
Impairment of assets	`AssetImpairmentCharges`	-	USD	3 Qtrs
Impairment of assets	`AssetImpairmentCharges`	$4.00K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$4.00K	USD	3 Qtrs
Impairment of assets	`AssetImpairmentCharges`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$278.08K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$254.04K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$137.61K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$91.84K	USD	1 Quarter
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$-91.84K	USD	1 Quarter
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$-278.08K	USD	3 Qtrs
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$84.39K	USD	3 Qtrs
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$44.14K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.58K	USD	3 Qtrs
Interest expense	`InterestExpense`	$4.51K	USD	1 Quarter
Interest expense	`InterestExpense`	$181.00	USD	1 Quarter
Interest expense	`InterestExpense`	$1.28K	USD	3 Qtrs
Total other (income) and expenses	`OtherExpenses`	$1.28K	USD	3 Qtrs
Total other (income) and expenses	`OtherExpenses`	$4.51K	USD	1 Quarter
Total other (income) and expenses	`OtherExpenses`	$181.00	USD	1 Quarter
Total other (income) and expenses	`OtherExpenses`	$11.58K	USD	3 Qtrs
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$43.96K	USD	1 Quarter
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$-91.84K	USD	1 Quarter
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$-278.08K	USD	3 Qtrs
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$83.10K	USD	3 Qtrs
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-4.51K	USD	1 Quarter
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$323.87K	USD	3 Qtrs
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-11.58K	USD	3 Qtrs
NET Income (LOSS)	`NetIncomeLoss`	$-96.35K	USD	1 Quarter
NET Income (LOSS)	`NetIncomeLoss`	$43.96K	USD	1 Quarter
NET Income (LOSS)	`NetIncomeLoss`	$406.97K	USD	3 Qtrs
NET Income (LOSS)	`NetIncomeLoss`	$-289.66K	USD	3 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	3 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	3 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	3 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	3 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	180.28M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	180.28M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	210.98M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	209.24M	shares	3 Qtrs

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-96.35K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$43.96K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$406.97K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-289.66K	USD	3 Qtrs
Discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$11.58K	USD	3 Qtrs
Discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-323.87K	USD	3 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$43.96K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-91.84K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-278.08K	USD	3 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$83.10K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$120.01K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	-	USD	3 Qtrs
Stock issued for compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$38.00K	USD	Point-in-time
Stock issued for compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$143.00K	USD	3 Qtrs
Stock issued for compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$204.00	USD	3 Qtrs
Stock issued for license agreements	`StockIssuedForLicenseAgreementsValue`	$9.25K	USD	3 Qtrs
Stock issued for license agreements	`StockIssuedForLicenseAgreementsValue`	-	USD	3 Qtrs
Impairment of assets	`AssetImpairmentCharges`	$6.00K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$4.00K	USD	1 Quarter
Impairment of assets	`AssetImpairmentCharges`	-	USD	3 Qtrs
Impairment of assets	`AssetImpairmentCharges`	$4.00K	USD	Annual
Impairment of assets	`AssetImpairmentCharges`	$4.00K	USD	3 Qtrs
Impairment of assets	`AssetImpairmentCharges`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.30K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$11.47K	USD	3 Qtrs
Net assets and liabilities from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	-	USD	3 Qtrs
Net assets and liabilities from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-23.04K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInContinuingOperations`	$-158.12K	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInContinuingOperations`	$225.74K	USD	3 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	-	shares	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	55,000.00	shares	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	25,000.00	shares	Point-in-time
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	-	shares	3 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	68,000.00	shares	3 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	25,000.00	shares	2 Qtrs
Advances from officer	`ProceedsFromRelatedPartyDebt`	$33.46K	USD	3 Qtrs
Advances from officer	`ProceedsFromRelatedPartyDebt`	$147.42K	USD	3 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	$-148.65K	USD	3 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$8.10K	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	3 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	-	USD	3 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$-22.51K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-69.70K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$155.52K	USD	3 Qtrs
INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$156.04K	USD	3 Qtrs
INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.60K	USD	3 Qtrs
CASH, BEGINNING OF PERIOD	`Cash`	$11.02K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	-	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$167.05K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$2.60K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$11.02K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	-	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$167.05K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$2.60K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Reclass from discontinued operations to accounts payables	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax`	-	USD	3 Qtrs
Reclass from discontinued operations to accounts payables	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax`	$213.78K	USD	3 Qtrs
Write-off of debt	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	3 Qtrs
Write-off of debt	`WriteOffOfDeferredDebtIssuanceCost`	$1.22M	USD	3 Qtrs
Common stock issued for settlement of debt	`StockIssuedDuringPeriodValueOther`	$1.20M	USD	3 Qtrs
Common stock issued for settlement of debt	`StockIssuedDuringPeriodValueOther`	$1.20M	USD	1 Quarter
Common stock issued for settlement of debt	`StockIssuedDuringPeriodValueOther`	-	USD	3 Qtrs
Common stock issued for purchase of intangible asset	`CommonStockIssuedForPurchaseOfIntangibleAssetValue`	-	USD	3 Qtrs
Common stock issued for purchase of intangible asset	`CommonStockIssuedForPurchaseOfIntangibleAssetValue`	$4.00K	USD	3 Qtrs
Debt issued for purchase of proprietary technology	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	3 Qtrs
Debt issued for purchase of proprietary technology	`ProceedsFromIssuanceOrSaleOfEquity`	$1.20M	USD	3 Qtrs

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