10-K Filing

SIDECHANNEL, INC. CIK: 1022505 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0000721748-16-000951`
Period End Date	20150930
Filing Date	20160127
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	clok-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 26 Cash Flow Statement 60 Stockholders Equity 25

Balance Sheet 58 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`	$8.59K	USD	Point-in-time
Cash	`Cash`	$545.65K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	4.00M	shares	Point-in-time
Cash	`Cash`	$1.99M	USD	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
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$7.89K	USD	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$3.23K	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`	$2.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$553.54K	USD	Point-in-time
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	$21.80K	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
Proprietary technology, net	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	4.36M	shares	Point-in-time
Assets attributable to discontinued operations - long-term	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	$582.50K	USD	Point-in-time
Assets attributable to discontinued operations - long-term	`DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent`	-	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	2.83M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$2.00M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.16M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	2.83M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.10M	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`	$18.00	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.12M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.12M	USD	Point-in-time
Line of credit	`LineOfCredit`	-	USD	Point-in-time
Line of credit	`LineOfCredit`	$53.61K	USD	Point-in-time
Stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	-	USD	Point-in-time
Stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.84M	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$2.23M	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.84M	USD	Point-in-time
Series A Convertible Preferred stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 and 4,000,000 issued and outstanding as of September 30, 2015 and 2014	`PreferredStockValue`	$40.00K	USD	Point-in-time
Series A Convertible Preferred stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 and 4,000,000 issued and outstanding as of September 30, 2015 and 2014	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 4,356,741 and 2,834,737 issued and outstanding as of September 30, 2015 and 2014, respectively	`CommonStockValueOutstanding`	$28.35K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 4,356,741 and 2,834,737 issued and outstanding as of September 30, 2015 and 2014, respectively	`CommonStockValueOutstanding`	$43.57K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$28.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.82M	USD	Point-in-time
Stock subscription	`TemporaryEquityShareSubscriptions`	-	shares	Point-in-time
Stock subscription	`TemporaryEquityShareSubscriptions`	-50,000.00	shares	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.38M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.14M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$427.70K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-677.24K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-229.32K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$1.16M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$2.00M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
General and administrative	`GeneralAndAdministrativeExpense`	$2.81M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$12.89M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$227.65K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	-	USD	Annual
Total operating expenses	`OperatingExpenses`	$13.11M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.81M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-13.11M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-2.81M	USD	Annual
Interest expense, net	`InterestExpense`	$2.72K	USD	Annual
Interest expense, net	`InterestExpense`	$2.73K	USD	Annual
Total other expenses	`OtherExpenses`	$2.73K	USD	Annual
Total other expenses	`OtherExpenses`	$2.72K	USD	Annual
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-2.81M	USD	Annual
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-13.12M	USD	Annual
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-25.13K	USD	Annual
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-641.53K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-2.84M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-13.76M	USD	Annual
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-4.22	USD	Annual
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-1.14	USD	Annual
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	$-0.01	USD	Annual
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	$-0.21	USD	Annual
Total	`EarningsPerShareBasicAndDiluted`	$-1.15	USD	Annual
Total	`EarningsPerShareBasicAndDiluted`	$-4.43	USD	Annual
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.11M	shares	Annual
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.47M	shares	Annual

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-2.84M	USD	Annual
Net Loss	`NetIncomeLoss`	$-13.76M	USD	Annual
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$25.13K	USD	Annual
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$641.53K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-2.81M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-13.12M	USD	Annual
Stock issued for compensation	`StockIssuedForCompensation`	$11.73M	USD	Annual
Stock issued for compensation	`StockIssuedForCompensation`	$1.63M	USD	Annual
Stock issued with licensing agreements	`StockIssuedDuringPeriodValueOther`	$194.50K	USD	Annual
Stock issued with licensing agreements	`StockIssuedDuringPeriodValueOther`	$5.70K	USD	Annual
Gain on cancellation of stock	`GainsLossesOnExtinguishmentOfDebt`	$-4.75K	USD	Annual
Gain on cancellation of stock	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$6.33K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	-	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$451.51K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$322.79K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.12M	USD	Annual
Stock payable	`IncreaseDecreaseInPayablesToCustomers`	$-7.00K	USD	Annual
Stock payable	`IncreaseDecreaseInPayablesToCustomers`	$7.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$278.60K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-749.05K	USD	Annual
Advances from affiliates	`ProceedsFromCollectionOfAdvanceToAffiliate`	-	USD	Annual
Advances from affiliates	`ProceedsFromCollectionOfAdvanceToAffiliate`	$8.30K	USD	Annual
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	$8.30K	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	-	USD	Annual
Proceeds from line of credit	`ProceedsFromLinesOfCredit`	$103.53K	USD	Annual
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$-59.71K	USD	Annual
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$-53.61K	USD	Annual
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$37.00K	USD	Annual
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$2.28M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.23M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$80.82K	USD	Annual
Operating	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$202.65K	USD	Annual
Operating	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-32.58K	USD	Annual
Investing	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-25.00K	USD	Annual
Investing	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash flows from Discontinued Operation	`NetCashProvidedByUsedInDiscontinuedOperations`	$177.65K	USD	Annual
Net cash flows from Discontinued Operation	`NetCashProvidedByUsedInDiscontinuedOperations`	$-32.58K	USD	Annual
INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$537.06K	USD	Annual
INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.45M	USD	Annual
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`	$1.99M	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`	$1.99M	USD	Point-in-time
Interest paid	`InterestPaid`	$2.84K	USD	Annual
Interest paid	`InterestPaid`	$2.73K	USD	Annual
Taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Cancellation of common stock issued	`CancellationOfCommonStockIssued`	$150.00	USD	Annual
Cancellation of common stock issued	`CancellationOfCommonStockIssued`	-	USD	Annual
Stock Subscription receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$50.00K	USD	Point-in-time
Stock Subscription receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	USD	Point-in-time
Write-off of debt - related parties	`AllowanceForLoanAndLeaseLossesWriteoffsNet`	$59.70K	USD	Annual
Write-off of debt - related parties	`AllowanceForLoanAndLeaseLossesWriteoffsNet`	-	USD	Annual
Common stock issued for purchase of software	`CommonStockIssuedForPurchaseOfIntangibleAssets`	-	USD	Annual
Common stock issued for purchase of software	`CommonStockIssuedForPurchaseOfIntangibleAssets`	$6.00K	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Value	`StockholdersEquity`	$427.70K	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-677.24K	USD	Point-in-time
Beginning Balance, Value	`StockholdersEquity`	$-229.32K	USD	Point-in-time
Common stock issued for asset acquisition, Value	`StockIssuedDuringPeriodValueAcquisitions`	$6.00K	USD	Annual
Stock issued to officers for services, Shares	`StockIssuedDuringPeriodSharesShareBasedCompensation`	10.74M	shares	Annual
Stock issued to officers for services, Value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$50.00K	USD	Annual
Stock issued to officers for services, Value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$666.75K	USD	Annual
Common stock issued for the purchase of billing software, Value	`StockIssuedDuringPeriodValueOther`	$194.50K	USD	Annual
Common stock issued for the purchase of billing software, Value	`StockIssuedDuringPeriodValueOther`	$5.70K	USD	Annual
Common stock issued for consulting services, Shares	`StockIssuedDuringPeriodSharesIssuedForServices`	161,654.00	shares	Annual
Common stock issued for consulting services, Value	`StockIssuedDuringPeriodValueIssuedForServices`	$958.37K	USD	Annual
Common stock issued for consulting services, Value	`StockIssuedDuringPeriodValueIssuedForServices`	$994.66K	USD	Annual
Common stock issued for cash, Value	`CommonStockIssuedForCashValue`	$2.28M	USD	Annual
Common stock issued for cash, Value	`CommonStockIssuedForCashValue`	$37.00K	USD	Annual
Common stock rescinded for purchase of asset, Value	`StockRescindedForPurchaseOfAssetValue`	$-4.75K	USD	Annual
Cancellation of stock, Value	`CancellationOfStockValue`	-	USD	Annual
Common stock issued for subscription receivable, Value	`CommonStockIssuedForSubscriptionReceivableValue`	-	USD	Annual
Common stock issued for service, Value	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$994.66K	USD	Annual
Write-off of related party debt	`AllowanceForLoanAndLeaseLossesWriteoffsNet`	$59.70K	USD	Annual
Write-off of related party debt	`AllowanceForLoanAndLeaseLossesWriteoffsNet`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-2.84M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.76M	USD	Annual
Ending Balance, Value	`StockholdersEquity`	$427.70K	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-677.24K	USD	Point-in-time
Ending Balance, Value	`StockholdersEquity`	$-229.32K	USD	Point-in-time

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