10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-001799`
Period End Date	20161231
Filing Date	20170221
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	clok-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 30 Cash Flow Statement 42 Stockholders Equity 12

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
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
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`	$1.13M	USD	Point-in-time
Series A Convertible Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$86.31K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
Series A Convertible Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Prepaid officer compensation	`PrepaidOfficerCompensation`	$52.24K	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
Prepaid officer compensation	`PrepaidOfficerCompensation`	$44.79K	USD	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	$2.50K	USD	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	$7.50K	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
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$391.43K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$146.05K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.22K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	5.27M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.59K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$15.31K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$13.90K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	5.27M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	5.91M	shares	Point-in-time
Total Assets	`Assets`	$417.54K	USD	Point-in-time
Total Assets	`Assets`	$173.96K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$30.57K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$62.27K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$420.33K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$516.34K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$442.00K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$442.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$988.91K	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`	$229.02K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$229.02K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$341.52K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.22M	USD	Point-in-time
Commitments and Contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 5)	`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 December 31, 2016 and September 30, 2016	`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 December 31, 2016 and September 30, 2016	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 5,905,973 and 5,268,859 issued and outstanding as of December 31, 2016 and September 30, 2016, respectively	`CommonStockValue`	$59.06K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 5,905,973 and 5,268,859 issued and outstanding as of December 31, 2016 and September 30, 2016, respectively	`CommonStockValue`	$52.69K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$44.78M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$47.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-48.94M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.04M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$173.96K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$417.54K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.81K	USD	1 Quarter
General and administrative included in stock-based expense	`GeneralAndAdministrativeIncludedInStockbasedExpense`	$2.12M	USD	1 Quarter
Revenues	`Revenues`	$112.50K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$30.30K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Sales and marketing included in stock-based expense	`SalesAndMarketingIncludedInStockbasedExpense`	$31.25K	USD	1 Quarter
Gross Profit	`GrossProfit`	$3.81K	USD	1 Quarter
Gross Profit	`GrossProfit`	$82.20K	USD	1 Quarter
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	$41.53K	USD	1 Quarter
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	$476.55K	USD	1 Quarter
General and administrative (includes stock-based expense of $2,117,700 for 2016)	`GeneralAndAdministrativeExpense`	$2.43M	USD	1 Quarter
General and administrative (includes stock-based expense of $2,117,700 for 2016)	`GeneralAndAdministrativeExpense`	$298.77K	USD	1 Quarter
Sales and marketing (includes stock-based expense of $31,250 for 2016)	`SellingAndMarketingExpense`	-	USD	1 Quarter
Sales and marketing (includes stock-based expense of $31,250 for 2016)	`SellingAndMarketingExpense`	$98.37K	USD	1 Quarter
Research and development (includes stock-based expense of $476,550 for 2016 and $41,533 for 2015)	`ResearchAndDevelopmentExpense`	$154.65K	USD	1 Quarter
Research and development (includes stock-based expense of $476,550 for 2016 and $41,533 for 2015)	`ResearchAndDevelopmentExpense`	$599.96K	USD	1 Quarter
Settlement expense	`LitigationSettlementExpense`	-	USD	1 Quarter
Settlement expense	`LitigationSettlementExpense`	$106.25K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$3.24M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$453.42K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-449.60K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-3.15M	USD	1 Quarter
Interest expense	`InterestExpense`	$10.94K	USD	1 Quarter
Interest expense	`InterestExpense`	$106.00	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-449.71K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.16M	USD	1 Quarter
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.10	USD	1 Quarter
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.56	USD	1 Quarter
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.48M	shares	1 Quarter
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.66M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-449.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.16M	USD	1 Quarter
Depreciation	`Depreciation`	$1.38K	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$27.50K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.12M	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-507.80K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Termination of software license	`TerminationOfSoftwareLicense`	-	USD	1 Quarter
Termination of software license	`TerminationOfSoftwareLicense`	$106.25K	USD	1 Quarter
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	$-7.46K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-112.50K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-3.81K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-691.93K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$68.30K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.12M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-487.78K	USD	1 Quarter
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	-	USD	1 Quarter
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	$2.80K	USD	1 Quarter
Deposit with others	`ProceedsFromDepositWithOthers`	$-10.45K	USD	1 Quarter
Deposit with others	`ProceedsFromDepositWithOthers`	$-373.00	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.45K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.17K	USD	1 Quarter
Advances from officer	`AdvancesFromOfficer`	$1.21K	USD	1 Quarter
Advances from officer	`AdvancesFromOfficer`	-	USD	1 Quarter
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$265.00K	USD	1 Quarter
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$233.12K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$233.12K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$266.21K	USD	1 Quarter
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-257.83K	USD	1 Quarter
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-862.20K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$86.31K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$86.31K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-507.80K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$233.12K	USD	1 Quarter
Common stock issued for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	123,000.00	shares	1 Quarter
Common stock issued for license termination	`CommonStockIssuedForLicenseTermination`	$106.25K	USD	1 Quarter
Common stock issued to officers	`StockIssuedDuringPeriodValueOther`	$2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-449.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.16M	USD	1 Quarter
Balance	`StockholdersEquity`	$-1.04M	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.