10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000721748-16-001007`
Period End Date	20151231
Filing Date	20160222
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	clok-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 30 Cash Flow Statement 49

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$1.13M	USD	Point-in-time
Cash	`Cash`	$208.50K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$1.99M	USD	Point-in-time
Cash	`Cash`	$545.65K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$3.23K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	-	USD	Point-in-time
Short-term notes receivable	`AccountsNotesAndLoansReceivableNetCurrent`	$50.00K	USD	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
Short-term notes receivable	`AccountsNotesAndLoansReceivableNetCurrent`	-	USD	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.18M	USD	Point-in-time
Preferred Stock, Shares Outstandng	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Long-term notes receivable	`LongTermAccountsNotesAndLoansReceivableNetNoncurrent`	$200.00K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Long-term notes receivable	`LongTermAccountsNotesAndLoansReceivableNetNoncurrent`	-	USD	Point-in-time
Deposits with others	`MachineryAndEquipmentGross`	$10.45K	USD	Point-in-time
Deposits with others	`MachineryAndEquipmentGross`	-	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
TOTAL ASSETS	`Assets`	$1.39M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.00M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	4.36M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	4.49M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	4.49M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$405.78K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.21K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	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`	$691.41K	USD	Point-in-time
Deferred Revenue	`DeferredRevenue`	$1.12M	USD	Point-in-time
Total Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.10M	USD	Point-in-time
Total Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$2.23M	USD	Point-in-time
Series A Convertible Preferred Stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 outstanding As of December 31, 2015 and September 30, 2015	`PreferredStockValue`	$100.00K	USD	Point-in-time
Series A Convertible Preferred Stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 outstanding As of December 31, 2015 and September 30, 2015	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common Stock, $0.01 par value, 650,000,000 shares authorized; 4,494,421 issued and outstanding as of December 31, 2015 and 4,356,741 issued and outstanding as of September 30, 2015	`CommonStockValueOutstanding`	$43.57K	USD	Point-in-time
Common Stock, $0.01 par value, 650,000,000 shares authorized; 4,494,421 issued and outstanding as of December 31, 2015 and 4,356,741 issued and outstanding as of September 30, 2015	`CommonStockValueOutstanding`	$44.94K	USD	Point-in-time
Other Equity	`OtherAdditionalCapital`	$-50.00K	USD	Point-in-time
Other Equity	`OtherAdditionalCapital`	$-50.00K	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$42.82M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$43.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-42.91M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-229.32K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$293.25K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$2.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$1.39M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	$433.59K	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	$433.59K	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$326.27K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$176.32K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$127.15K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$17.43K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$453.42K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$193.76K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-19.82K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-193.76K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.02K	USD	1 Quarter
Interest expense	`InterestExpense`	$106.00	USD	1 Quarter
(Loss) from Continuing Operations	`IncomeLossFromContinuingOperations`	$-19.93K	USD	1 Quarter
(Loss) from Continuing Operations	`IncomeLossFromContinuingOperations`	$-194.78K	USD	1 Quarter
Gain (Loss) from Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-68.35K	USD	1 Quarter
Gain (Loss) from Discontinued Operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$250.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$230.07K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-263.13K	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-0.09	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	$0.06	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$0.05	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Weighted Average Number of Common Shares Outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	2.83M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.48M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$230.07K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-263.13K	USD	1 Quarter
(Gain) Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$68.35K	USD	1 Quarter
(Gain) Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-250.00K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-19.93K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-194.78K	USD	1 Quarter
Stock-based compensation	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	-	USD	1 Quarter
Stock-based compensation	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$27.50K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-433.59K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-138.88K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-695.17K	USD	1 Quarter
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.12M	USD	1 Quarter
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-333.66K	USD	1 Quarter
Deposit with others	`IncreaseDecreaseInDepositOtherAssets`	$-10.45K	USD	1 Quarter
Deposit with others	`IncreaseDecreaseInDepositOtherAssets`	-	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.45K	USD	1 Quarter
Advances from officer	`ProceedsFromRelatedPartyDebt`	$1.21K	USD	1 Quarter
Advances from officer	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Advances from officer	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Subscribed stock	`SubscribedStock`	-	USD	1 Quarter
Subscribed stock	`SubscribedStock`	$-4.74K	USD	1 Quarter
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	-	USD	1 Quarter
Common stock issued for cash	`StockIssuedDuringPeriodValueOther`	$265.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$266.21K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.74K	USD	1 Quarter
Operating	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$3.23K	USD	1 Quarter
Operating	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$1.25K	USD	1 Quarter
Net decrease in cash from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$3.23K	USD	1 Quarter
Net decrease in cash from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$1.25K	USD	1 Quarter
(DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-862.20K	USD	1 Quarter
(DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-337.15K	USD	1 Quarter
CASH, BEGINNING OF YEAR	`Cash`	$1.13M	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$208.50K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$1.99M	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$545.65K	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$1.13M	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$208.50K	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$1.99M	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$545.65K	USD	Point-in-time
Interest	`InterestPaid`	$107.00	USD	1 Quarter
Interest	`InterestPaid`	$1.11K	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Common stock rescinded for purchase of software	`CommonStockRescindedForPurchaseOfSoftware`	$-6.00K	USD	1 Quarter
Common stock rescinded for purchase of software	`CommonStockRescindedForPurchaseOfSoftware`	-	USD	1 Quarter
Cancellation of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$150.00	USD	1 Quarter
Cancellation of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	1 Quarter

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