10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0000721748-15-000659`
Period End Date	20150630
Filing Date	20150818
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	clok-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 68 Cash Flow Statement 67

Balance Sheet 66 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`	10.00M	shares	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
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Cash	`Cash`	$90.57K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	4.00M	shares	Point-in-time
Cash	`Cash`	$8.59K	USD	Point-in-time
Cash	`Cash`	$545.65K	USD	Point-in-time
Cash	`Cash`	$828.50K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	4.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.01K	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, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	-	USD	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$6.89K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	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`	$90.57K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	$53.30K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	2.83M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	2.95M	shares	Point-in-time
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	$604.30K	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	2.83M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	2.95M	shares	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$194.50K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$338.37K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.16M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$698.02K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$649.45K	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
Line of credit	`LineOfCredit`	$42.10K	USD	Point-in-time
Line of credit	`LineOfCredit`	$53.61K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$74.21K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	-	USD	Point-in-time
Stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$710.08K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$814.33K	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$710.08K	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$814.33K	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 June 30, 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 June 30, 2015 and September 30, 2014	`PreferredStockValue`	$40.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 2,951,587 and 2,834,737 issued and outstanding as of June 30, 2015 and September 30, 2014, respectively	`CommonStockValueOutstanding`	$29.52K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 2,951,587 and 2,834,737 issued and outstanding as of June 30, 2015 and September 30, 2014, respectively	`CommonStockValueOutstanding`	$28.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$28.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.41M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-475.96K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$447.76K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$1.16M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$338.37K	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	$1.13M	USD	1 Quarter
REVENUE	`Revenues`	$1.35M	USD	3 Qtrs
REVENUE	`Revenues`	-	USD	1 Quarter
REVENUE	`Revenues`	$431.00	USD	3 Qtrs
COST OF REVENUES	`CostOfRevenue`	$63.62K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$183.47K	USD	3 Qtrs
COST OF REVENUES	`CostOfRevenue`	$191.59K	USD	3 Qtrs
COST OF REVENUES	`CostOfRevenue`	$61.16K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$-191.16K	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$1.17M	USD	3 Qtrs
GROSS PROFIT	`GrossProfit`	$-63.62K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$1.07M	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$10.54M	USD	3 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$251.77K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$2.45M	USD	3 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$357.80K	USD	3 Qtrs
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$119.27K	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$27.20K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$68.84K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$20.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.96M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$398.23K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.47M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-11.15M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-13.74K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.32M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-461.85K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.84K	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.66K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00	USD	1 Quarter
Interest expense	`InterestExpense`	$2.17K	USD	3 Qtrs
Total other (income) expenses	`OtherExpenses`	$2.17K	USD	3 Qtrs
Total other (income) expenses	`OtherExpenses`	$1.66K	USD	1 Quarter
Total other (income) expenses	`OtherExpenses`	$2.00	USD	1 Quarter
Total other (income) expenses	`OtherExpenses`	$1.84K	USD	3 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-1.30M	USD	3 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-11.16M	USD	3 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-15.39K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-461.85K	USD	1 Quarter
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-12.89K	USD	3 Qtrs
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-869.00	USD	3 Qtrs
(LOSS) INCOME FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-5.38K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-461.85K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-11.16M	USD	3 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-20.77K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-1.32M	USD	3 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-3.91	USD	3 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-0.16	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-0.01	USD	3 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	3 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	3 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$-3.91	USD	3 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.85M	shares	3 Qtrs
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.36M	shares	3 Qtrs
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.89M	shares	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.69M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-461.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.16M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-20.77K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.32M	USD	3 Qtrs
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-12.89K	USD	3 Qtrs
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-869.00	USD	3 Qtrs
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-1.30M	USD	3 Qtrs
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-11.16M	USD	3 Qtrs
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-15.39K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-461.85K	USD	1 Quarter
Impairment of software	`AssetImpairmentCharges`	$357.80K	USD	3 Qtrs
Impairment of software	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment of software	`AssetImpairmentCharges`	$119.27K	USD	1 Quarter
Impairment of software	`AssetImpairmentCharges`	-	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$183.47K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$193.20K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$9.93M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.62M	USD	3 Qtrs
Gain on cancellation of stock issued for services	`GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome`	-	USD	3 Qtrs
Gain on cancellation of stock issued for services	`GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome`	$-4.75K	USD	3 Qtrs
Common stock issued for software sales	`ProceedsFromSaleOfProductiveAssets`	$5.70K	USD	3 Qtrs
Common stock issued for software sales	`ProceedsFromSaleOfProductiveAssets`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$1.44K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$7.01K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$48.57K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$241.89K	USD	3 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$752.10K	USD	3 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-622.78K	USD	3 Qtrs
Advances from officer	`ProceedsFromRelatedPartyDebt`	$8.30K	USD	3 Qtrs
Advances from officer	`ProceedsFromRelatedPartyDebt`	$74.21K	USD	3 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	$8.30K	USD	3 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$103.53K	USD	3 Qtrs
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	3 Qtrs
Subscribed stock	`SubscribedStock`	$-7.00K	USD	3 Qtrs
Subscribed stock	`SubscribedStock`	-	USD	3 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$-11.52K	USD	3 Qtrs
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$-50.71K	USD	3 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$7.00K	USD	1 Quarter
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$100.00K	USD	Point-in-time
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$112.00K	USD	3 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$5.00K	USD	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$15.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$167.70K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$67.82K	USD	3 Qtrs
(DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-455.08K	USD	3 Qtrs
(DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$819.91K	USD	3 Qtrs
CASH, BEGINNING OF YEAR	`Cash`	$90.57K	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, BEGINNING OF YEAR	`Cash`	$828.50K	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$90.57K	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
CASH, END OF YEAR	`Cash`	$828.50K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Interest paid	`InterestPaid`	$1.84K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Write-off of related party debt to additional paid-in capital	`AdjustmentsToAdditionalPaidInCapitalOther`	-	USD	3 Qtrs
Write-off of related party debt to additional paid-in capital	`AdjustmentsToAdditionalPaidInCapitalOther`	$59.70K	USD	3 Qtrs
Common stock issued for purchase of software	`CommonStockIssuedForPurchaseOfIntangibleAssets`	$6.00K	USD	3 Qtrs
Common stock issued for purchase of software	`CommonStockIssuedForPurchaseOfIntangibleAssets`	$194.50K	USD	3 Qtrs
Cancellation of stock rescinded for purchase of software	`CancellationOfStockResindedForPurchaseOfSoftware`	-	USD	3 Qtrs
Cancellation of stock rescinded for purchase of software	`CancellationOfStockResindedForPurchaseOfSoftware`	$6.00K	USD	3 Qtrs
Cancellation of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$150.00	USD	3 Qtrs
Cancellation of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	3 Qtrs

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