10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-005370`
Period End Date	20170331
Filing Date	20170515
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	clok-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 68 Cash Flow Statement 49 Stockholders Equity 14

Balance Sheet 58 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
Series A Convertible Preferred Stock, shares issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$750.77K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$119.99K	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
Prepaid officer compensation	`PrepaidOfficerCompensation`	$44.79K	USD	Point-in-time
Series A Convertible Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	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
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	$2.50K	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, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$172.24K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$391.43K	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
Other assets	`OtherAssetsNoncurrent`	$12.22K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.27M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.22K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.27M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$13.90K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.27M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$13.93K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.27M	shares	Point-in-time
Total Assets	`Assets`	$198.39K	USD	Point-in-time
Total Assets	`Assets`	$417.54K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$62.27K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$18.58K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$420.33K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$314.41K	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`	$774.99K	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`	$104.28K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$341.52K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$104.28K	USD	Point-in-time
Total Liabilities	`Liabilities`	$879.27K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.27M	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 March 31, 2017 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 March 31, 2017 and September 30, 2016	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 6,274,336 and 5,268,859 issued and outstanding as of March 31, 2017 and September 30, 2016, respectively	`CommonStockValue`	$62.74K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 6,274,336 and 5,268,859 issued and outstanding as of March 31, 2017 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`	$48.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.35M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-680.88K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$198.39K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$417.54K	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$124.75K	USD	1 Quarter
General and administrative included in stock-based expense	`GeneralAndAdministrativeIncludedInStockbasedExpense`	$2.12M	USD	2 Qtrs
Revenues	`Revenues`	$116.31K	USD	2 Qtrs
General and administrative included in stock-based expense	`GeneralAndAdministrativeIncludedInStockbasedExpense`	-	USD	1 Quarter
Revenues	`Revenues`	$237.25K	USD	2 Qtrs
General and administrative included in stock-based expense	`GeneralAndAdministrativeIncludedInStockbasedExpense`	-	USD	1 Quarter
Revenues	`Revenues`	$112.50K	USD	1 Quarter
General and administrative included in stock-based expense	`GeneralAndAdministrativeIncludedInStockbasedExpense`	$2.12M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$60.60K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$30.30K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$30.30K	USD	2 Qtrs
Sales and marketing included in stock-based expense	`SalesAndMarketingIncludedInStockbasedExpense`	$31.25K	USD	2 Qtrs
Sales and marketing included in stock-based expense	`SalesAndMarketingIncludedInStockbasedExpense`	-	USD	1 Quarter
Sales and marketing included in stock-based expense	`SalesAndMarketingIncludedInStockbasedExpense`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$30.30K	USD	1 Quarter
Sales and marketing included in stock-based expense	`SalesAndMarketingIncludedInStockbasedExpense`	$31.25K	USD	2 Qtrs
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	$491.51K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$176.65K	USD	2 Qtrs
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	$27.50K	USD	2 Qtrs
Gross Profit	`GrossProfit`	$86.01K	USD	2 Qtrs
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	$14.96K	USD	1 Quarter
Research and development included in stock-based expense	`ResearchAndDevelopmentIncludedInStockbasedExpense`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	$82.20K	USD	1 Quarter
Gross Profit	`GrossProfit`	$94.45K	USD	1 Quarter
General and administrative (includes stock-based expense of $74,500 and $2,192,200 for the three and six months ended March 31, 2017, respectively)	`GeneralAndAdministrativeExpense`	$2.71M	USD	2 Qtrs
General and administrative (includes stock-based expense of $74,500 and $2,192,200 for the three and six months ended March 31, 2017, respectively)	`GeneralAndAdministrativeExpense`	$251.55K	USD	1 Quarter
General and administrative (includes stock-based expense of $74,500 and $2,192,200 for the three and six months ended March 31, 2017, respectively)	`GeneralAndAdministrativeExpense`	$577.82K	USD	2 Qtrs
General and administrative (includes stock-based expense of $74,500 and $2,192,200 for the three and six months ended March 31, 2017, respectively)	`GeneralAndAdministrativeExpense`	$277.97K	USD	1 Quarter
Sales and marketing (includes stock-based expense of $0 and $31,248 for the three and six months ended March 31, 2017, respectively)	`SellingAndMarketingExpense`	-	USD	1 Quarter
Sales and marketing (includes stock-based expense of $0 and $31,248 for the three and six months ended March 31, 2017, respectively)	`SellingAndMarketingExpense`	$153.48K	USD	2 Qtrs
Sales and marketing (includes stock-based expense of $0 and $31,248 for the three and six months ended March 31, 2017, respectively)	`SellingAndMarketingExpense`	-	USD	2 Qtrs
Sales and marketing (includes stock-based expense of $0 and $31,248 for the three and six months ended March 31, 2017, respectively)	`SellingAndMarketingExpense`	$55.11K	USD	1 Quarter
Research and development (includes stock-based expense of $14,965 and $491,515 for the three and six months ended March 31, 2017, respectively, and $0 and $27,500 for the three and six months ended March 31, 2016, respectively)	`ResearchAndDevelopmentExpense`	$756.50K	USD	2 Qtrs
Research and development (includes stock-based expense of $14,965 and $491,515 for the three and six months ended March 31, 2017, respectively, and $0 and $27,500 for the three and six months ended March 31, 2016, respectively)	`ResearchAndDevelopmentExpense`	$110.49K	USD	1 Quarter
Research and development (includes stock-based expense of $14,965 and $491,515 for the three and six months ended March 31, 2017, respectively, and $0 and $27,500 for the three and six months ended March 31, 2016, respectively)	`ResearchAndDevelopmentExpense`	$237.64K	USD	2 Qtrs
Research and development (includes stock-based expense of $14,965 and $491,515 for the three and six months ended March 31, 2017, respectively, and $0 and $27,500 for the three and six months ended March 31, 2016, respectively)	`ResearchAndDevelopmentExpense`	$156.54K	USD	1 Quarter
Settlement expense	`LitigationSettlementExpense`	-	USD	1 Quarter
Settlement expense	`LitigationSettlementExpense`	$106.25K	USD	2 Qtrs
Settlement expense	`LitigationSettlementExpense`	-	USD	2 Qtrs
Settlement expense	`LitigationSettlementExpense`	-	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$362.04K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$815.46K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$3.73M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$489.62K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-3.55M	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-395.17K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-729.45K	USD	2 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-279.84K	USD	1 Quarter
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	2 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$11.76K	USD	1 Quarter
Interest expense	`InterestExpense`	$22.70K	USD	2 Qtrs
Interest expense	`InterestExpense`	$106.00	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-235.93K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-406.93K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-3.57M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-685.64K	USD	2 Qtrs
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.60	USD	2 Qtrs
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	1 Quarter
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	2 Qtrs
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.05	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`	4.49M	shares	1 Quarter
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.21M	shares	1 Quarter
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.93M	shares	2 Qtrs

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-235.93K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-406.93K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.57M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-685.64K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.76K	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$27.50K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.12M	USD	2 Qtrs
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-629.22K	USD	2 Qtrs
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	2 Qtrs
Termination of software license	`TerminationOfSoftwareLicense`	$106.25K	USD	2 Qtrs
Termination of software license	`TerminationOfSoftwareLicense`	-	USD	2 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	2 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	1 Quarter
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	$-7.46K	USD	2 Qtrs
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.50K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-237.25K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-116.31K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-680.85K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-145.61K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.50M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.10M	USD	2 Qtrs
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	$2.80K	USD	2 Qtrs
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	-	USD	2 Qtrs
Deposit with others	`ProceedsFromDepositWithOthers`	-	USD	2 Qtrs
Deposit with others	`ProceedsFromDepositWithOthers`	$-7.22K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.80K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.22K	USD	2 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	$1.21K	USD	2 Qtrs
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$233.12K	USD	1 Quarter
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$265.00K	USD	2 Qtrs
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$881.72K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$263.80K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$881.72K	USD	2 Qtrs
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-224.14K	USD	2 Qtrs
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.24M	USD	2 Qtrs
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$750.77K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$119.99K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$750.77K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$119.99K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Balance	`StockholdersEquity`	$-680.88K	USD	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-629.22K	USD	2 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	2 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$881.72K	USD	2 Qtrs
Common stock issued for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	123,000.00	shares	2 Qtrs
Common stock issued for license termination	`CommonStockIssuedForLicenseTermination`	$106.25K	USD	2 Qtrs
Common stock issued to officers	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.12M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-235.93K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-406.93K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.57M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-685.64K	USD	2 Qtrs
Balance	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Balance	`StockholdersEquity`	$-680.88K	USD	Point-in-time

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