10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-009131`
Period End Date	20170630
Filing Date	20170814
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	clok-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 56 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$121.38K	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
Series A Convertible Preferred Stock, shares issued	`PreferredStockSharesIssued`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$802.05K	USD	Point-in-time
Series A Convertible Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Prepaid officer compensation	`PrepaidOfficerCompensation`	-	USD	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	650.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$391.43K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$121.38K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.22K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.27M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.22K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.46M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.27M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.46M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$12.55K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$13.90K	USD	Point-in-time
Total Assets	`Assets`	$417.54K	USD	Point-in-time
Total Assets	`Assets`	$146.15K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$108.80K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$62.27K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$333.96K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$420.33K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$424.05K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$442.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$924.60K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$866.81K	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenue`	$7.84K	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenue`	$341.52K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$341.52K	USD	Point-in-time
Total Long-Term Liabilities	`LiabilitiesNoncurrent`	$7.84K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total Liabilities	`Liabilities`	$874.65K	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 June 30, 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 June 30, 2017 and September 30, 2016	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 6,462,819 and 5,268,859 issued and outstanding as of June 30, 2017 and September 30, 2016, respectively	`CommonStockValue`	$52.69K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 6,462,819 and 5,268,859 issued and outstanding as of June 30, 2017 and September 30, 2016, respectively	`CommonStockValue`	$64.63K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$48.87M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$44.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.76M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-728.49K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$417.54K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$146.15K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$114.39K	USD	1 Quarter
Revenues	`Revenues`	$112.50K	USD	1 Quarter
Revenues	`Revenues`	$351.63K	USD	3 Qtrs
Revenues	`Revenues`	$228.81K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$60.60K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$30.30K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$90.90K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$30.30K	USD	1 Quarter
Gross Profit	`GrossProfit`	$84.09K	USD	1 Quarter
Gross Profit	`GrossProfit`	$82.20K	USD	1 Quarter
Gross Profit	`GrossProfit`	$168.21K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$260.73K	USD	3 Qtrs
General and administrative (includes stock-based expense of $0 and $2,192,200 for the three and nine months ended June 30, 2017, respectively, and $1,600 for the three and nine months ended June 30, 2016)	`GeneralAndAdministrativeExpense`	$1.16M	USD	1 Quarter
General and administrative (includes stock-based expense of $0 and $2,192,200 for the three and nine months ended June 30, 2017, respectively, and $1,600 for the three and nine months ended June 30, 2016)	`GeneralAndAdministrativeExpense`	$2.96M	USD	3 Qtrs
General and administrative (includes stock-based expense of $0 and $2,192,200 for the three and nine months ended June 30, 2017, respectively, and $1,600 for the three and nine months ended June 30, 2016)	`GeneralAndAdministrativeExpense`	$247.69K	USD	1 Quarter
General and administrative (includes stock-based expense of $0 and $2,192,200 for the three and nine months ended June 30, 2017, respectively, and $1,600 for the three and nine months ended June 30, 2016)	`GeneralAndAdministrativeExpense`	$1.73M	USD	3 Qtrs
Sales and marketing (includes stock-based expense of $31,250 and $93,748 for the three and nine months ended June 30, 2017, respectively)	`SellingAndMarketingExpense`	-	USD	3 Qtrs
Sales and marketing (includes stock-based expense of $31,250 and $93,748 for the three and nine months ended June 30, 2017, respectively)	`SellingAndMarketingExpense`	$188.95K	USD	3 Qtrs
Sales and marketing (includes stock-based expense of $31,250 and $93,748 for the three and nine months ended June 30, 2017, respectively)	`SellingAndMarketingExpense`	$35.47K	USD	1 Quarter
Sales and marketing (includes stock-based expense of $31,250 and $93,748 for the three and nine months ended June 30, 2017, respectively)	`SellingAndMarketingExpense`	-	USD	1 Quarter
Research and development (includes stock-based expense of $25,000 and $516,515 for the three and nine months ended June 30, 2017, respectively, and $0 and $27,500 for the three and nine months ended June 30, 2016, respectively)	`ResearchAndDevelopmentExpense`	$140.96K	USD	1 Quarter
Research and development (includes stock-based expense of $25,000 and $516,515 for the three and nine months ended June 30, 2017, respectively, and $0 and $27,500 for the three and nine months ended June 30, 2016, respectively)	`ResearchAndDevelopmentExpense`	$198.00K	USD	1 Quarter
Research and development (includes stock-based expense of $25,000 and $516,515 for the three and nine months ended June 30, 2017, respectively, and $0 and $27,500 for the three and nine months ended June 30, 2016, respectively)	`ResearchAndDevelopmentExpense`	$378.61K	USD	3 Qtrs
Research and development (includes stock-based expense of $25,000 and $516,515 for the three and nine months ended June 30, 2017, respectively, and $0 and $27,500 for the three and nine months ended June 30, 2016, respectively)	`ResearchAndDevelopmentExpense`	$954.50K	USD	3 Qtrs
Settlement expense	`LitigationSettlementExpense`	-	USD	3 Qtrs
Settlement expense	`LitigationSettlementExpense`	-	USD	1 Quarter
Settlement expense	`LitigationSettlementExpense`	-	USD	1 Quarter
Settlement expense	`LitigationSettlementExpense`	$106.25K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.11M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$481.16K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$4.21M	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.30M	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-397.07K	USD	1 Quarter
Operating Loss	`OperatingIncomeLoss`	$-1.94M	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-3.95M	USD	3 Qtrs
Operating Loss	`OperatingIncomeLoss`	$-1.22M	USD	1 Quarter
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	3 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$106.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$11.79K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$34.49K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-3.98M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-408.86K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.90M	USD	3 Qtrs
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.24	USD	1 Quarter
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.41	USD	3 Qtrs
Net Loss per Common Share Basic and Diluted:	`EarningsPerShareBasicAndDiluted`	$-0.66	USD	3 Qtrs
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.06M	shares	3 Qtrs
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.33M	shares	1 Quarter
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.82M	shares	1 Quarter
Weighted Average Common Shares Outstanding Basic and Diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.59M	shares	3 Qtrs

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.98M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-408.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	3 Qtrs
Depreciation	`Depreciation`	$4.14K	USD	3 Qtrs
Depreciation	`Depreciation`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.12M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$29.10K	USD	3 Qtrs
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-685.47K	USD	3 Qtrs
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	3 Qtrs
Termination of software license	`TerminationOfSoftwareLicense`	$106.25K	USD	3 Qtrs
Termination of software license	`TerminationOfSoftwareLicense`	$803.25K	USD	3 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$43.91K	USD	3 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	$-44.79K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.77K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.50K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-351.63K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-228.81K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-662.89K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.85K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.01M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.41M	USD	3 Qtrs
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	$2.80K	USD	3 Qtrs
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	-	USD	3 Qtrs
Deposit with others	`ProceedsFromDepositWithOthers`	-	USD	3 Qtrs
Deposit with others	`ProceedsFromDepositWithOthers`	$-57.80K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.80K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.80K	USD	3 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of advances from officer	`RepaymentsOfRelatedPartyDebt`	$1.21K	USD	3 Qtrs
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$875.32K	USD	3 Qtrs
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$1.19M	USD	3 Qtrs
Common stock issued for cash	`ProceedsFromIssuanceOrSaleOfEquity`	$305.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$874.12K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.19M	USD	3 Qtrs
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-222.75K	USD	3 Qtrs
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.19M	USD	3 Qtrs
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$121.38K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$802.05K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$121.38K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$802.05K	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`	$-728.49K	USD	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-685.47K	USD	3 Qtrs
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	3 Qtrs
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$1.19M	USD	3 Qtrs
Common stock issued for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	167,500.00	shares	3 Qtrs
Common stock issued for license termination	`CommonStockIssuedForLicenseTermination`	$106.25K	USD	3 Qtrs
Common stock issued to officers	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.12M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.98M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-408.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.22M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.90M	USD	3 Qtrs
Balance	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Balance	`StockholdersEquity`	$-728.49K	USD	Point-in-time

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