10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0000721748-16-001338`
Period End Date	20160331
Filing Date	20160606
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	clok-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 72 Cash Flow Statement 62

Balance Sheet 60 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
Cash	`Cash`	$750.77K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`Cash`	$545.65K	USD	Point-in-time
Cash	`Cash`	$86.87K	USD	Point-in-time
Cash	`Cash`	$1.99M	USD	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
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$3.23K	USD	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$3.23K	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`	$754.00K	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
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Lease deposit	`OtherAssetsNoncurrent`	-	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
Lease deposit	`OtherAssetsNoncurrent`	$7.22K	USD	Point-in-time
Total long term assets	`TotalLongTermAssets`	-	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	4.47M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	4.36M	shares	Point-in-time
Total long term assets	`TotalLongTermAssets`	$7.22K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$761.22K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	4.47M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$2.00M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$69.19K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$29.57K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$345.41K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.03M	USD	Point-in-time
Deferred revenue-curent	`DeferredRevenueAndCredits`	$450.00K	USD	Point-in-time
Deferred revenue-curent	`DeferredRevenueAndCredits`	-	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
Total current liabilities	`LiabilitiesCurrent`	$825.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.10M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.12M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$558.69K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$558.69K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$2.23M	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$2.23M	USD	Point-in-time
TOTAL LIABILITIES	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$1.38M	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, 2016 and September 30, 2015	`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, 2016 and September 30, 2015	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 4,469,241 and 4,356,741 issued and outstanding as of March 31, 2016 and September 30, 2015, respectively	`CommonStockValueOutstanding`	$43.57K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 4,469,241 and 4,356,741 issued and outstanding as of March 31, 2016 and September 30, 2015, respectively	`CommonStockValueOutstanding`	$44.69K	USD	Point-in-time
Stock subscription receivable	`PreferredStockSharesSubscribedButUnissuedSubscriptionsReceivable`	$-50.00K	USD	Point-in-time
Stock subscription receivable	`PreferredStockSharesSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.82M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-229.32K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-622.47K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$2.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$761.22K	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
REVENUE	`Revenues`	$431.00	USD	2 Qtrs
REVENUE	`Revenues`	$112.50K	USD	1 Quarter
REVENUE	`Revenues`	$116.31K	USD	2 Qtrs
REVENUE	`Revenues`	-	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$64.65K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$30.30K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$127.97K	USD	2 Qtrs
COST OF REVENUES	`CostOfRevenue`	$30.30K	USD	2 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$82.20K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$86.01K	USD	2 Qtrs
GROSS PROFIT (LOSS)	`GrossProfit`	$-64.65K	USD	1 Quarter
GROSS PROFIT (LOSS)	`GrossProfit`	$-127.54K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$577.82K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$10.28M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$251.55K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.11M	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	$238.53K	USD	2 Qtrs
Impairment	`AssetImpairmentCharges`	$238.53K	USD	1 Quarter
Impairment	`AssetImpairmentCharges`	-	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$19.47K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$110.49K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$41.65K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$237.64K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$362.04K	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`	$815.46K	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-10.69M	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-10.43M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-729.45K	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-279.84K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	1 Quarter
Gain on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$106.00	USD	2 Qtrs
Interest expense	`InterestExpense`	$1.84K	USD	2 Qtrs
Interest expense	`InterestExpense`	$817.00	USD	1 Quarter
Total other income (expenses)	`OtherExpenses`	$1.84K	USD	2 Qtrs
Total other income (expenses)	`OtherExpenses`	$-43.80K	USD	2 Qtrs
Total other income (expenses)	`OtherExpenses`	$817.00	USD	1 Quarter
Total other income (expenses)	`OtherExpenses`	$-43.91K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-10.43M	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-235.93K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-685.64K	USD	2 Qtrs
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-10.69M	USD	2 Qtrs
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	2 Qtrs
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-869.00	USD	2 Qtrs
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-155.00	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-685.64K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-10.43M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-10.69M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-235.93K	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-3.77	USD	2 Qtrs
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-0.05	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-3.68	USD	1 Quarter
Continuing operations	`EarningsPerShareBasicContinuingOperations`	$-0.15	USD	2 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	2 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	2 Qtrs
Discontinued operations	`EarningsPerShareBasicDiscontinuingOperations`	-	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$-3.77	USD	2 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Total	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	2 Qtrs
Total	`EarningsPerShareBasicAndDiluted`	$-3.68	USD	1 Quarter
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.48M	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`	4.49M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-685.64K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-10.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.69M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-235.93K	USD	1 Quarter
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	2 Qtrs
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$869.00	USD	2 Qtrs
Net from continuing operations	`IncomeLossFromContinuingOperations`	$-10.43M	USD	1 Quarter
Net from continuing operations	`IncomeLossFromContinuingOperations`	$-235.93K	USD	1 Quarter
Net from continuing operations	`IncomeLossFromContinuingOperations`	$-685.64K	USD	2 Qtrs
Net from continuing operations	`IncomeLossFromContinuingOperations`	$-10.69M	USD	2 Qtrs
Gain on extinguishment of debt	`ExtraordinaryItemsGross`	-	USD	2 Qtrs
Gain on extinguishment of debt	`ExtraordinaryItemsGross`	$-43.91K	USD	2 Qtrs
Impairment of software	`ImpairmentOfIntangibleAssetsFinitelived`	$238.53K	USD	2 Qtrs
Impairment of software	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$127.24K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	-	USD	2 Qtrs
Gain on cancellation of stock issued for services	`GainOnCancellationOfStockIssuedForServices`	-	USD	2 Qtrs
Gain on cancellation of stock issued for services	`GainOnCancellationOfStockIssuedForServices`	$-4.75K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$27.50K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$9.90M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-116.31K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	$7.01K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsAndNotesReceivable`	-	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-18.73K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-680.85K	USD	2 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.50M	USD	2 Qtrs
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-444.26K	USD	2 Qtrs
Deposits with others	`IncreaseDecreaseInDepositOtherAssets`	$7.22K	USD	2 Qtrs
Deposits with others	`IncreaseDecreaseInDepositOtherAssets`	-	USD	2 Qtrs
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.22K	USD	2 Qtrs
Repayment of advances from officer	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-1.21K	USD	2 Qtrs
Repayment of advances from officer	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Subscribed stock	`ProceedsFromIssuanceOfCommonStock`	$-7.00K	USD	2 Qtrs
Subscribed stock	`ProceedsFromIssuanceOfCommonStock`	-	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	`ProceedsFromIssuanceOrSaleOfEquity`	$265.00K	USD	2 Qtrs
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$263.80K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-14.51K	USD	2 Qtrs
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-458.78K	USD	2 Qtrs
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.24M	USD	2 Qtrs
CASH, BEGINNING OF YEAR	`Cash`	$750.77K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$545.65K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$86.87K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`Cash`	$1.99M	USD	Point-in-time
CASH, END OF YEAR	`Cash`	$750.77K	USD	Point-in-time
CASH, END 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`	$1.99M	USD	Point-in-time
Interest paid	`InterestPaid`	$1.22K	USD	2 Qtrs
Interest paid	`InterestPaid`	$106.00	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cancellation of stock for rescinded subscription	`CancellationOfStockForRescindedSubscription`	-	USD	2 Qtrs
Cancellation of stock for rescinded subscription	`CancellationOfStockForRescindedSubscription`	$50.00K	USD	2 Qtrs
Cancellation of stock rescinded for purchase of software	`CancellationOfStockRescindedForPurchaseOfSoftware`	-	USD	2 Qtrs
Cancellation of stock rescinded for purchase of software	`CancellationOfStockRescindedForPurchaseOfSoftware`	$6.00K	USD	2 Qtrs
Cancellation of common stock	`CancellationOfCommonStock`	$150.00	USD	2 Qtrs
Cancellation of common stock	`CancellationOfCommonStock`	-	USD	2 Qtrs

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