10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0000721748-14-000065`
Period End Date	20120331
Filing Date	20140124
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	nsct-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 58 Cash Flow Statement 60

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
Cash	`Cash`	$11.02K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	$2.60K	USD	Point-in-time
Cash	`Cash`	$93.15K	USD	Point-in-time
Cash	`Cash`	$11.00	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$719.00	USD	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	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
Total current assets	`AssetsCurrent`	$93.86K	USD	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
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Proprietary technology	`FiniteLivedIntangibleAssetsNet`	$1.20M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Proprietary technology	`FiniteLivedIntangibleAssetsNet`	$1.14M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	15.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.23M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	180.53M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	18,000.00	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	180.53M	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`	180.53M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$213.78K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$180.80K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$117.58K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$159.00K	USD	Point-in-time
Advances from officers	`AccountsPayableRelatedPartiesCurrent`	$13.30K	USD	Point-in-time
Line of credit	`LineOfCredit`	$35.11K	USD	Point-in-time
Line of credit	`LineOfCredit`	$44.53K	USD	Point-in-time
Notes payable	`NotesPayable`	-	USD	Point-in-time
Notes payable	`NotesPayable`	-	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`	$366.48K	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`	$366.48K	USD	Point-in-time
Preferred stock, $.10 par value, 4,000,000 shares authorized; none issued and outstanding as of March 31, 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 March 31, 2012 and September 30, 2011	`PreferredStockValueOutstanding`	$40.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 180,526,879 issued and outstanding as of March 31, 2012 and September 30, 2011, respectively	`CommonStockValueOutstanding`	$1.81M	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 180,526,879 issued and outstanding as of March 31, 2012 and September 30, 2011, respectively	`CommonStockValueOutstanding`	$2.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.41M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.87M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$867.49K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.97M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$1.23M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$1.21M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$216.69K	USD	2 Qtrs
REVENUES	`Revenues`	$216.69K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$60.01K	USD	2 Qtrs
COST OF REVENUES	`CostOfRevenue`	$60.01K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$156.68K	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$156.68K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	-	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$149.30K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$152.74K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$74.43K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$27.48K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$21.50K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$33.50K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$42.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$42.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$170.80K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$186.24K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$69.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$116.43K	USD	2 Qtrs
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$-170.80K	USD	1 Quarter
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$40.25K	USD	2 Qtrs
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$87.19K	USD	1 Quarter
OPERATING Income (LOSS)	`OperatingIncomeLoss`	$-186.24K	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.10K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.10K	USD	2 Qtrs
Total other (income) and expenses	`OtherExpenses`	$4.73K	USD	1 Quarter
Total other (income) and expenses	`OtherExpenses`	$1.10K	USD	1 Quarter
Total other (income) and expenses	`OtherExpenses`	$7.08K	USD	2 Qtrs
Total other (income) and expenses	`OtherExpenses`	$1.10K	USD	2 Qtrs
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$39.15K	USD	2 Qtrs
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$86.09K	USD	1 Quarter
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$-186.24K	USD	2 Qtrs
INCOME (LOSS) FROM CONTINUED OPERATIONS	`IncomeLossFromContinuingOperations`	$-170.80K	USD	1 Quarter
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-4.73K	USD	1 Quarter
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-7.08K	USD	2 Qtrs
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$323.87K	USD	2 Qtrs
INCOME (LOSS) FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$328.33K	USD	1 Quarter
NET Income (LOSS)	`NetIncomeLoss`	$-175.53K	USD	1 Quarter
NET Income (LOSS)	`NetIncomeLoss`	$-193.32K	USD	2 Qtrs
NET Income (LOSS)	`NetIncomeLoss`	$414.43K	USD	1 Quarter
NET Income (LOSS)	`NetIncomeLoss`	$363.01K	USD	2 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	2 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	2 Qtrs
Discontinuing operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	2 Qtrs
Discontinuing operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Discontinuing operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	2 Qtrs
Discontinuing operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	208.37M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	210.77M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	172.69M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	180.28M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-175.53K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-193.32K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$414.43K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$363.01K	USD	2 Qtrs
Discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$7.08K	USD	2 Qtrs
Discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-323.87K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$39.15K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$86.09K	USD	1 Quarter
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-186.24K	USD	2 Qtrs
Net income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-170.80K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$60.01K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	-	USD	2 Qtrs
Stock issued for compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$184.00	USD	2 Qtrs
Stock issued for compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$38.00K	USD	Point-in-time
Stock issued for compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$105.00K	USD	2 Qtrs
Stock issued for license agreements	`StockIssuedForLicenseAgreementsValue`	$1.15K	USD	2 Qtrs
Stock issued for license agreements	`StockIssuedForLicenseAgreementsValue`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-719.00	USD	2 Qtrs
Net assets and liabilities from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-23.01K	USD	2 Qtrs
Net assets and liabilities from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	-	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInContinuingOperations`	$-104.25K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInContinuingOperations`	$99.77K	USD	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	25,000.00	shares	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	55,000.00	shares	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	-	shares	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodSharesIssuedForCash`	25,000.00	shares	Point-in-time
Advances from officer	`ProceedsFromRelatedPartyDebt`	$18.06K	USD	2 Qtrs
Advances from officer	`ProceedsFromRelatedPartyDebt`	$7.66K	USD	2 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	$-81.28K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$94.00K	USD	2 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$-9.42K	USD	2 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$101.67K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.64K	USD	2 Qtrs
INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.59K	USD	2 Qtrs
INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$82.13K	USD	2 Qtrs
CASH, BEGINNING OF PERIOD	`Cash`	$11.02K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$2.60K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$93.15K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$11.00	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$11.02K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$2.60K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$93.15K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$11.00	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Reclass from discontinued operations to accounts payables	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax`	-	USD	2 Qtrs
Reclass from discontinued operations to accounts payables	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax`	$213.78K	USD	2 Qtrs
Write-off of debt - related parties	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	$1.22M	USD	2 Qtrs
Write-off of debt - related parties	`AllowanceForLoanAndLeaseLossRecoveryOfBadDebts`	-	USD	2 Qtrs
Common stock issued for settlement of debt	`StockIssuedDuringPeriodValueOther`	$1.20M	USD	2 Qtrs
Common stock issued for settlement of debt	`StockIssuedDuringPeriodValueOther`	$1.20M	USD	1 Quarter
Common stock issued for settlement of debt	`StockIssuedDuringPeriodValueOther`	-	USD	2 Qtrs
Debt issued for purchase of proprietary technology	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	2 Qtrs
Debt issued for purchase of proprietary technology	`ProceedsFromIssuanceOrSaleOfEquity`	$1.20M	USD	2 Qtrs

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