10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0000721748-15-000403`
Period End Date	20150331
Filing Date	20150520
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	clok-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 68 Cash Flow Statement 61

Balance Sheet 56 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, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$86.87K	USD	Point-in-time
Cash	`Cash`	$-28.53K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	4.00M	shares	Point-in-time
Cash	`Cash`	$8.59K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Cash	`Cash`	$545.65K	USD	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.01K	USD	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	4.00M	shares	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$6.89K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$553.54K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$86.87K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	$604.30K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	2.83M	shares	Point-in-time
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	$238.53K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	2.83M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$325.40K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	2.83M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	2.83M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$1.16M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$649.45K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$630.72K	USD	Point-in-time
Liabilities attributable to discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities`	$18.00	USD	Point-in-time
Liabilities attributable to discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities`	-	USD	Point-in-time
Lines of credit	`LineOfCredit`	$46.10K	USD	Point-in-time
Lines of credit	`LineOfCredit`	$53.61K	USD	Point-in-time
Stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.00K	USD	Point-in-time
Stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$710.08K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$676.82K	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$710.08K	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$676.82K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 issued and outstanding as of March 31, 2015 and September 30, 2014	`PreferredStockValue`	$100.00K	USD	Point-in-time
Preferred stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 issued and outstanding as of March 31, 2015 and September 30, 2014	`PreferredStockValue`	$40.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 2,832,587 and 2,834,737 issued and outstanding as of March 31, 2015 and September 30, 2014, respectively	`CommonStockValueOutstanding`	$28.35K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 2,832,587 and 2,834,737 issued and outstanding as of March 31, 2015 and September 30, 2014, respectively	`CommonStockValueOutstanding`	$28.32K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.47M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$28.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.95M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-351.42K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$447.76K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.16M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$325.40K	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	$105.12K	USD	1 Quarter
REVENUE	`Revenues`	$431.00	USD	2 Qtrs
REVENUE	`Revenues`	$222.68K	USD	2 Qtrs
REVENUE	`Revenues`	-	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$122.31K	USD	2 Qtrs
COST OF REVENUES	`CostOfRevenue`	$127.97K	USD	2 Qtrs
COST OF REVENUES	`CostOfRevenue`	$61.16K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$64.65K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$43.96K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$100.36K	USD	2 Qtrs
GROSS PROFIT	`GrossProfit`	$-64.65K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$-127.54K	USD	2 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$10.11M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$10.28M	USD	2 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.11M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.33M	USD	2 Qtrs
Impairment	`AssetImpairmentCharges`	$238.53K	USD	2 Qtrs
Impairment	`AssetImpairmentCharges`	$238.53K	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$41.65K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$60.00K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$19.47K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$30.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.37M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.56M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.39M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.14M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-10.43M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.29M	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-1.09M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-10.69M	USD	2 Qtrs
Interest expense	`InterestExpense`	$-1.84K	USD	2 Qtrs
Interest expense	`InterestExpense`	$-515.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$-817.00	USD	1 Quarter
Interest expense	`InterestExpense`	$-279.00	USD	1 Quarter
Total other expense	`OtherExpenses`	$-817.00	USD	1 Quarter
Total other expense	`OtherExpenses`	$-515.00	USD	2 Qtrs
Total other expense	`OtherExpenses`	$-279.00	USD	1 Quarter
Total other expense	`OtherExpenses`	$-1.84K	USD	2 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-10.69M	USD	2 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-1.29M	USD	2 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-1.09M	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-10.43M	USD	1 Quarter
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-869.00	USD	2 Qtrs
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$3.20K	USD	1 Quarter
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-7.52K	USD	2 Qtrs
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-155.00	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-10.69M	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-10.43M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-1.30M	USD	2 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-3.68	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-0.49	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-0.59	USD	2 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-3.77	USD	2 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	2 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	2 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	$-0.49	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$-3.68	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$-0.59	USD	2 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	$-3.77	USD	2 Qtrs
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.20M	shares	2 Qtrs
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.83M	shares	2 Qtrs
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.83M	shares	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.25M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-10.69M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-10.43M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.30M	USD	2 Qtrs
Loss (Income) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$869.00	USD	2 Qtrs
Loss (Income) from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-7.52K	USD	2 Qtrs
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-10.69M	USD	2 Qtrs
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.29M	USD	2 Qtrs
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.09M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-10.43M	USD	1 Quarter
Impairment of software	`AssetImpairmentCharges`	$238.53K	USD	2 Qtrs
Impairment of software	`AssetImpairmentCharges`	$238.53K	USD	1 Quarter
Impairment of software	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment of software	`AssetImpairmentCharges`	-	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$127.24K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$122.31K	USD	2 Qtrs
Gain on cancellation of stock issued for services	`GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome`	$-4.75K	USD	2 Qtrs
Gain on cancellation of stock issued for services	`GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome`	-	USD	2 Qtrs
Common stock issued for compensation	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$666.75K	USD	2 Qtrs
Stock issued with software sales	`ProceedsFromSaleOfProductiveAssets`	-	USD	2 Qtrs
Stock issued with software sales	`ProceedsFromSaleOfProductiveAssets`	$5.70K	USD	2 Qtrs
Stock compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Stock compensation	`ShareBasedCompensation`	$9.90M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$7.01K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$3.16K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-18.73K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$397.27K	USD	2 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-100.69K	USD	2 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-444.26K	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	2 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$58.57K	USD	2 Qtrs
Subscribed stock	`SubscribedStock`	-	USD	2 Qtrs
Subscribed stock	`SubscribedStock`	$-7.00K	USD	2 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$-7.51K	USD	2 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$5.00K	USD	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	-	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$63.57K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.51K	USD	2 Qtrs
(DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-37.12K	USD	2 Qtrs
(DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-458.78K	USD	2 Qtrs
CASH, BEGINNING OF YEAR	`Cash`	$86.87K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$-28.53K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$8.59K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$545.65K	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$86.87K	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$-28.53K	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$8.59K	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$545.65K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Interest paid	`InterestPaid`	$1.22K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Write-off of debt - related parties	`AdjustmentsToAdditionalPaidInCapitalOther`	$59.70K	USD	2 Qtrs
Write-off of debt - related parties	`AdjustmentsToAdditionalPaidInCapitalOther`	-	USD	2 Qtrs
Common stock issued for purchase of software	`CommonStockIssuedForPurchaseOfIntangibleAssets`	$6.00K	USD	2 Qtrs
Common stock issued for purchase of software	`CommonStockIssuedForPurchaseOfIntangibleAssets`	-	USD	2 Qtrs
Cancellation of stock resinded for purchase of software	`CancellationOfStockResindedForPurchaseOfSoftware`	-	USD	2 Qtrs
Cancellation of stock resinded for purchase of software	`CancellationOfStockResindedForPurchaseOfSoftware`	$6.00K	USD	2 Qtrs
Cancellation of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$150.00	USD	2 Qtrs
Cancellation of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	2 Qtrs

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