10-K Filing

SIDECHANNEL, INC. CIK: 1022505 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001493152-17-001035`
Period End Date	20160930
Filing Date	20170202
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	clok-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 45 Cash Flow Statement 57 Stockholders Equity 26

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.00K	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.00K	USD	Point-in-time
Series A Convertible Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Series A Convertible Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$545.65K	USD	Point-in-time
Series A Convertible Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Series A Convertible Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Series A Convertible Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Series A Convertible Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Series A Convertible Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Accounts receivable, net of allowance of $10,000	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Series A Convertible Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Series A Convertible Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Series A Convertible Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Assets attributable to discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	-	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
Prepaid officer compensation	`PrepaidOfficerCompensation`	-	USD	Point-in-time
Prepaid officer compensation	`PrepaidOfficerCompensation`	$44.79K	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	$2.50K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	5.27M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$391.43K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.00M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	4.36M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	4.36M	shares	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$12.22K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	5.27M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$13.90K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Total assets	`Assets`	$417.54K	USD	Point-in-time
Total assets	`Assets`	$2.00M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$62.27K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$69.19K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$420.33K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$1.03M	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$341.00K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$442.00K	USD	Point-in-time
Liabilities attributable to discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities`	-	USD	Point-in-time
Liabilities attributable to discontinued operations	`DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities`	$18.00	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$924.60K	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenue`	$341.52K	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenue`	$784.00K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$341.52K	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$784.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.23M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A Convertible Preferred stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 issued and outstanding as of September 30, 2016 and 2015, respectively	`PreferredStockValue`	$100.00K	USD	Point-in-time
Series A Convertible Preferred stock, $0.01 par value, 10,000,000 shares authorized; 10,000,000 issued and outstanding as of September 30, 2016 and 2015, respectively	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 5,268,859 and 4,356,741 issued and outstanding as of September 30, 2016 and 2015, respectively	`CommonStockValue`	$52.69K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 5,268,859 and 4,356,741 issued and outstanding as of September 30, 2016 and 2015, respectively	`CommonStockValue`	$43.57K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$44.78M	USD	Point-in-time
Stock subscription receivable	`TemporaryEquitySharesSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Stock subscription receivable	`TemporaryEquitySharesSubscribedButUnissuedSubscriptionsReceivable`	$50.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-43.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.78M	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 stockholders' deficit	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$417.54K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.00M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	$341.48K	USD	Annual
General and administrative included in stock-based expense	`GeneralAndAdministrativeIncludedInStockbasedExpense`	$11.73M	USD	Annual
General and administrative included in stock-based expense	`GeneralAndAdministrativeIncludedInStockbasedExpense`	$211.60K	USD	Annual
Cost of revenues	`CostOfRevenue`	-	USD	Annual
Sales and marketing included in stock-based expense	`SalesAndMarketingIncludedInStockbasedExpense`	$54.80K	USD	Annual
Cost of revenues	`CostOfRevenue`	$90.90K	USD	Annual
Sales and marketing included in stock-based expense	`SalesAndMarketingIncludedInStockbasedExpense`	-	USD	Annual
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	$194.50K	USD	Annual
Gross profit	`GrossProfit`	$250.58K	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	$46.29K	USD	Annual
General and administrative (includes stock-based expense of $211,600 for 2016 and $11,733,265 for 2015)	`GeneralAndAdministrativeExpense`	$1.17M	USD	Annual
General and administrative (includes stock-based expense of $211,600 for 2016 and $11,733,265 for 2015)	`GeneralAndAdministrativeExpense`	$12.84M	USD	Annual
Sales and marketing (includes stock-based expense of $54,803 and $0 for 2015)	`SellingAndMarketingExpense`	$218.72K	USD	Annual
Sales and marketing (includes stock-based expense of $54,803 and $0 for 2015)	`SellingAndMarketingExpense`	$43.52K	USD	Annual
Settlement expenses	`LitigationSettlementExpense`	$763.47K	USD	Annual
Settlement expenses	`LitigationSettlementExpense`	-	USD	Annual
Research and development (includes stock-based expense of $46,291 for 2016 and $194,500 for 2015)	`ResearchAndDevelopmentExpense`	$227.65K	USD	Annual
Research and development (includes stock-based expense of $46,291 for 2016 and $194,500 for 2015)	`ResearchAndDevelopmentExpense`	$755.16K	USD	Annual
Total operating expenses	`OperatingExpenses`	$13.11M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.90M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$600.00K	USD	Point-in-time
Operating loss	`OperatingIncomeLoss`	$-2.65M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-13.11M	USD	Annual
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$59.61K	USD	Annual
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Net interest expense	`InterestExpense`	$2.72K	USD	Annual
Net interest expense	`InterestExpense`	$47.12K	USD	Annual
Total other income (expenses)	`OtherExpenses`	$2.72K	USD	Annual
Total other income (expenses)	`OtherExpenses`	$-12.49K	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-2.64M	USD	Annual
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-13.12M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-641.53K	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-2.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.76M	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.56	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-4.22	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	$-0.21	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare`	-	USD	Annual
Total	`EarningsPerShareBasicAndDiluted`	$-0.56	USD	Annual
Total	`EarningsPerShareBasicAndDiluted`	$-4.43	USD	Annual
Weighted average common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.74M	shares	Annual
Weighted average common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.11M	shares	Annual

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.76M	USD	Annual
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-641.53K	USD	Annual
Loss from discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	-	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-2.64M	USD	Annual
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-13.12M	USD	Annual
Depreciation	`Depreciation`	$2.13K	USD	Annual
Depreciation	`Depreciation`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$11.73M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$312.69K	USD	Annual
Stock issued with licensing agreement	`StockIssuedDuringPeriodValueSoftwareLicensing`	$-194.50K	USD	Annual
Stock issued with licensing agreement	`StockIssuedDuringPeriodValueSoftwareLicensing`	-	USD	Annual
Gain on settlements	`GainLossRelatedToLitigationSettlement`	$59.61K	USD	Annual
Gain on settlements	`GainLossRelatedToLitigationSettlement`	$4.75K	USD	Annual
Termination of software license	`TerminationOfSoftwareLicense`	$763.47K	USD	Annual
Termination of software license	`TerminationOfSoftwareLicense`	-	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-558.75K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$451.51K	USD	Annual
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpensesOther`	$-44.79K	USD	Annual
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpensesOther`	-	USD	Annual
Other Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.00K	USD	Annual
Other Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$732.00	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-341.48K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-749.05K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.57M	USD	Annual
Other assets	`ProceedsFromSaleOfOtherAssetsInvestingActivities`	$-12.22K	USD	Annual
Equipment purchases	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Equipment purchases	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.03K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.25K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	$53.61K	USD	Annual
Repayment of line of credit	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Common stock issued for cash, net of offering costs	`ProceedsFromIssuanceOrSaleOfEquity`	$2.28M	USD	Annual
Common stock issued for cash, net of offering costs	`ProceedsFromIssuanceOrSaleOfEquity`	$946.32K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$946.32K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.23M	USD	Annual
Operating	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	Annual
Operating	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-32.58K	USD	Annual
Net cash flows from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	-	USD	Annual
Net cash flows from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-32.58K	USD	Annual
INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.65M	USD	Annual
INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.45M	USD	Annual
CASH, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$545.65K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$545.65K	USD	Point-in-time
CASH, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	Annual
Interest paid	`InterestPaid`	$2.84K	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Cancellation of common stock	`CancellationOfCommonStock`	-	USD	Annual
Cancellation of common stock	`CancellationOfCommonStock`	$150.00	USD	Annual
Stock subscription receivable	`StockholdersSubscriptionReceivable`	-	USD	Annual
Stock subscription receivable	`StockholdersSubscriptionReceivable`	$50.00K	USD	Annual

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-677.24K	USD	Point-in-time
Balance	`StockholdersEquity`	$-229.32K	USD	Point-in-time
Balance	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Preferred stock issued to officers	`StockIssuedDuringPeriodValueShareBasedCompensation`	$9.90M	USD	Annual
Common stock rescinded for purchase of asset	`StockRescindedForPurchaseOfAssetValue`	$-4.75K	USD	Annual
Cancellation of stock	`StockRepurchasedDuringPeriodValue`	-	USD	Annual
Common stock issued for cash, net of offering costs	`StockIssuedDuringPeriodValueOther`	$2.28M	USD	Annual
Common stock issued for cash, net of offering costs	`StockIssuedDuringPeriodValueOther`	$946.32K	USD	Annual
Common stock issued for cash, net of offering costs, shares	`StockIssuedDuringPeriodSharesOther`	513,500.00	shares	Annual
Common stock issued for subscription receivable	`CommonStockIssuedForSubscriptionReceivableValue`	-	USD	Annual
Common stock issued for service	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$994.66K	USD	Annual
Common stock issued for service	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$41.46K	USD	Annual
Common stock issued to officers	`StockIssuedDuringPeriodValueShareBasedCompensationOne`	$102.69K	USD	Annual
Common stock issued to officers	`StockIssuedDuringPeriodValueShareBasedCompensationOne`	$838.60K	USD	Annual
Common stock issued for software licensing	`StockIssuedDuringPeriodValueSoftwareLicensing`	$-194.50K	USD	Annual
Common stock issued for software licensing	`StockIssuedDuringPeriodValueSoftwareLicensing`	-	USD	Annual
Common stock issued for license termination	`StockIssuedDuringPeriodValueLicenseTermination`	$763.47K	USD	Annual
Common stock issued for legal services	`StockIssuedDuringPeriodValueIssuedForServices`	$994.66K	USD	Annual
Common stock issued for legal services	`StockIssuedDuringPeriodValueIssuedForServices`	$210.00K	USD	Annual
Common stock issued for legal services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	161,654.00	shares	Annual
Reversal of subscription receivable	`ReversalOfSubscriptionReceivable`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-2.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-13.76M	USD	Annual
Balance	`StockholdersEquity`	$-677.24K	USD	Point-in-time
Balance	`StockholdersEquity`	$-229.32K	USD	Point-in-time
Balance	`StockholdersEquity`	$-848.59K	USD	Point-in-time

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