10-Q Filing

HYPHA LABS, INC. CIK: 1502966 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-001438`
Period End Date	20161231
Filing Date	20170213
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	digp-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 44 Cash Flow Statement 52

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Series A Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A Convertible Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	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`	$481.10K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$135.39K	USD	Point-in-time
Series A Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	3.02M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$63.73K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$163.34K	USD	Point-in-time
Series A Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	3.52M	shares	Point-in-time
Series A Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.52M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$98.44K	USD	Point-in-time
Series A Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	3.02M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$107.33K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$24.25K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$15.89K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	90.00M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$39.85K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	90.00M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$39.85K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$326.41K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.49M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.99M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$297.93K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.08M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.14M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.49M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.99M	shares	Point-in-time
Available-for-sale securities	`AvailableForSaleSecuritiesNoncurrent`	$9.20K	USD	Point-in-time
Available-for-sale securities	`AvailableForSaleSecuritiesNoncurrent`	$16.00K	USD	Point-in-time
Total Assets	`Assets`	$1.42M	USD	Point-in-time
Total Assets	`Assets`	$1.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$144.53K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$157.67K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$45.05K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$54.25K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$189.57K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$211.91K	USD	Point-in-time
Total Liabilities	`Liabilities`	$189.57K	USD	Point-in-time
Total Liabilities	`Liabilities`	$211.91K	USD	Point-in-time
Series A convertible preferred stock, $0.001 par value, 10,000,000 shares authorized; 3,020,442 and 3,520,442 shares issued and outstanding at December 31, 2016 and September 30, 2016, respectively	`PreferredStockValue`	$3.52K	USD	Point-in-time
Series A convertible preferred stock, $0.001 par value, 10,000,000 shares authorized; 3,020,442 and 3,520,442 shares issued and outstanding at December 31, 2016 and September 30, 2016, respectively	`PreferredStockValue`	$3.02K	USD	Point-in-time
Common stock, $0.001 par value, 90,000,000 shares authorized; 24,991,041 and 22,491,041 shares issued and outstanding at December 31, 2016 and September 30, 2016, respectively	`CommonStockValue`	$22.49K	USD	Point-in-time
Common stock, $0.001 par value, 90,000,000 shares authorized; 24,991,041 and 22,491,041 shares issued and outstanding at December 31, 2016 and September 30, 2016, respectively	`CommonStockValue`	$24.99K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.68M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-40.80K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-34.00K	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-10.56M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-10.43M	USD	Point-in-time
Total Digipath, Inc. Stockholders' Equity	`StockholdersEquity`	$1.23M	USD	Point-in-time
Total Digipath, Inc. Stockholders' Equity	`StockholdersEquity`	$1.23M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	-	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	-	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.23M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.23M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.45M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.42M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$102.14K	USD	1 Quarter
Revenues	`Revenues`	$409.75K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$104.60K	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$69.99K	USD	1 Quarter
Gross profit	`GrossProfit`	$32.14K	USD	1 Quarter
Gross profit	`GrossProfit`	$305.15K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$317.56K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$265.64K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$242.88K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$191.64K	USD	1 Quarter
Bad debts expense	`ProvisionForDoubtfulAccounts`	$289.77K	USD	1 Quarter
Bad debts expense	`ProvisionForDoubtfulAccounts`	$16.95K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$61.65K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$61.09K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$859.39K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$587.81K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-827.24K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-282.66K	USD	1 Quarter
Other income	`OtherIncome`	$154.00K	USD	1 Quarter
Other income	`OtherIncome`	$18.00K	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$2.50K	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$2.50K	USD	1 Quarter
Gain on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$12.13K	USD	1 Quarter
Gain on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Equity in losses of unconsolidated entity	`EquityInLossesOfUnconsolidatedEntity`	$-938.25K	USD	1 Quarter
Equity in losses of unconsolidated entity	`EquityInLossesOfUnconsolidatedEntity`	-	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$156.50K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-905.62K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-1.73M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-126.16K	USD	1 Quarter
Less: Net loss attributable to the noncontrolling interest	`ProfitLoss`	-	USD	1 Quarter
Less: Net loss attributable to the noncontrolling interest	`ProfitLoss`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-126.16K	USD	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.71M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and fully diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	23.95M	shares	1 Quarter
Net (loss) per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Net (loss) per share - basic and fully diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss attributable to Digipath, Inc.	`NetIncomeLoss`	$-1.73M	USD	1 Quarter
Net loss attributable to Digipath, Inc.	`NetIncomeLoss`	$-126.16K	USD	1 Quarter
Change in net unrealized loss (net of tax effect)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-3.40K	USD	1 Quarter
Change in net unrealized loss (net of tax effect)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$6.80K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.74M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-119.36K	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.73M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-126.16K	USD	1 Quarter
Bad debts expense	`ProvisionForDoubtfulAccounts`	$289.77K	USD	1 Quarter
Bad debts expense	`ProvisionForDoubtfulAccounts`	$16.95K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$61.65K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$61.09K	USD	1 Quarter
Stock issued for services, related parties	`ShareBasedCompensation`	$17.50K	USD	1 Quarter
Stock issued for services, related parties	`ShareBasedCompensation`	-	USD	1 Quarter
Options and warrants granted for services, related parties	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$109.81K	USD	1 Quarter
Options and warrants granted for services, related parties	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$99.92K	USD	1 Quarter
Gain on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$12.13K	USD	1 Quarter
Gain on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Equity in losses of unconsolidated entity	`EquityInLossesOfUnconsolidatedEntity`	$-938.25K	USD	1 Quarter
Equity in losses of unconsolidated entity	`EquityInLossesOfUnconsolidatedEntity`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$25.84K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$41.30K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$870.00	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-8.36K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.14K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.49K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-9.20K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-10.43K	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenues	`IncreaseDecreaseInDeferredRevenue`	$-1.84K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.04K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-395.02K	USD	1 Quarter
Cash disposed in divestiture of unconsolidated entity	`ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates`	$-57.88K	USD	1 Quarter
Cash disposed in divestiture of unconsolidated entity	`ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.47K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.09K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.35K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.09K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$45.00K	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-417.36K	USD	1 Quarter
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$27.95K	USD	1 Quarter
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$481.10K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$135.39K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$63.73K	USD	Point-in-time
Cash - beginning	`CashAndCashEquivalentsAtCarryingValue`	$163.34K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$481.10K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$135.39K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$63.73K	USD	Point-in-time
Cash - ending	`CashAndCashEquivalentsAtCarryingValue`	$163.34K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Value of preferred stock converted to common stock	`ConversionOfStockAmountConverted1`	$280.00K	USD	1 Quarter
Value of preferred stock converted to common stock	`ConversionOfStockAmountConverted1`	$500.00K	USD	1 Quarter

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