10-K Filing

SIDECHANNEL, INC. CIK: 1022505 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001493152-18-000491`
Period End Date	20170930
Filing Date	20180112
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	clok-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 31 Cash Flow Statement 48 Stockholders Equity 22

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Convertible note payable, discount	`DebtInstrumentUnamortizedDiscount`	$303.32K	USD	Point-in-time
Convertible note payable, discount	`DebtInstrumentUnamortizedDiscount`	-	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
Series A Convertible Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	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`	$227.40K	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
Prepaid officer compensation	`PrepaidOfficerCompensation`	-	USD	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
Series A Convertible Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	10.00M	shares	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	$2.50K	USD	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$391.43K	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
Total current assets	`AssetsCurrent`	$227.40K	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
Other assets	`OtherAssetsNoncurrent`	$12.22K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$11.17K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$13.90K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.64M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.27M	shares	Point-in-time
Total assets	`Assets`	$250.78K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.64M	shares	Point-in-time
Total assets	`Assets`	$417.54K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.27M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$62.27K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$59.76K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$420.33K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$505.03K	USD	Point-in-time
Convertible note payable, net of discount of $303,322	`ConvertibleNotesPayableCurrent`	$26.68K	USD	Point-in-time
Convertible note payable, net of discount of $303,322	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$308.41K	USD	Point-in-time
Deferred revenue-current	`DeferredRevenueAndCredits`	$442.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$899.88K	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`	$7.84K	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`	$907.72K	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE 7)	`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, 2017 and 2016, 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, 2017 and 2016, respectively	`PreferredStockValue`	$100.00K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 6,635,127 and 5,268,859 issued and outstanding as of September 30, 2017 and 2016, respectively	`CommonStockValue`	$66.35K	USD	Point-in-time
Common stock, $0.01 par value, 650,000,000 shares authorized; 6,635,127 and 5,268,859 issued and outstanding as of September 30, 2017 and 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`	$49.38M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-50.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.78M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-656.93K	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`	$250.78K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$417.54K	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$341.48K	USD	Annual
Revenues	`Revenues`	$467.27K	USD	Annual
Cost of revenues	`CostOfRevenue`	$90.90K	USD	Annual
Cost of revenues	`CostOfRevenue`	$121.20K	USD	Annual
Gross profit	`GrossProfit`	$346.07K	USD	Annual
Gross profit	`GrossProfit`	$250.58K	USD	Annual
General and administrative (includes stock-based expense of $2,192,200 for 2017 and $211,600 for 2016)	`GeneralAndAdministrativeExpense`	$3.17M	USD	Annual
General and administrative (includes stock-based expense of $2,192,200 for 2017 and $211,600 for 2016)	`GeneralAndAdministrativeExpense`	$1.17M	USD	Annual
Sales and marketing (includes stock-based expense of $93,748 for 2017 and $54,803 for 2016)	`SellingAndMarketingExpense`	$218.72K	USD	Annual
Sales and marketing (includes stock-based expense of $93,748 for 2017 and $54,803 for 2016)	`SellingAndMarketingExpense`	$354.00K	USD	Annual
Research and development (includes stock-based expense of $536,515 for 2017 and $46,291 for 2016)	`ResearchAndDevelopmentExpense`	$755.16K	USD	Annual
Research and development (includes stock-based expense of $536,515 for 2017 and $46,291 for 2016)	`ResearchAndDevelopmentExpense`	$1.09M	USD	Annual
Settlement expenses	`LitigationSettlementExpense`	$763.47K	USD	Annual
Settlement expenses	`LitigationSettlementExpense`	$106.25K	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.90M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.71M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-4.37M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$600.00K	USD	Point-in-time
Operating loss	`OperatingIncomeLoss`	$-2.65M	USD	Annual
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Gain on extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$59.61K	USD	Annual
Interest expense	`InterestExpense`	$47.12K	USD	Annual
Interest expense	`InterestExpense`	$53.14K	USD	Annual
Total other (expenses) income	`OtherNonoperatingIncomeExpense`	$12.49K	USD	Annual
Total other (expenses) income	`OtherNonoperatingIncomeExpense`	$-53.14K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.42M	USD	Annual
Net loss per common share - Basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.71	USD	Annual
Net loss per common share - Basic and diluted:	`EarningsPerShareBasicAndDiluted`	$-0.56	USD	Annual
Weighted average common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.74M	shares	Annual
Weighted average common shares outstanding - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	6.18M	shares	Annual

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.42M	USD	Annual
Depreciation	`Depreciation`	$5.52K	USD	Annual
Depreciation	`Depreciation`	$2.13K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$312.69K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$2.86M	USD	Annual
Gain on settlements	`GainLossRelatedToLitigationSettlement`	$59.61K	USD	Annual
Gain on settlements	`GainLossRelatedToLitigationSettlement`	-	USD	Annual
Termination of software license	`TerminationOfSoftwareLicense`	$106.25K	USD	Annual
Termination of software license	`TerminationOfSoftwareLicense`	$763.47K	USD	Annual
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	$44.79K	USD	Annual
Prepaid officer compensation	`IncreaseDecreaseInPrepaidExpense`	$-44.79K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-732.00	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.50K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-341.48K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-467.27K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$82.19K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-558.75K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.79M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.57M	USD	Annual
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	$2.80K	USD	Annual
Purchase of fixed assets and software	`PaymentsToAcquireProductiveAssets`	$16.03K	USD	Annual
Other assets	`ProceedsFromSaleOfOtherAssetsInvestingActivities`	-	USD	Annual
Other assets	`ProceedsFromSaleOfOtherAssetsInvestingActivities`	$-12.22K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.80K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.25K	USD	Annual
Common stock issued for cash, net of offering costs	`ProceedsFromIssuanceOrSaleOfEquity`	$946.32K	USD	Annual
Common stock issued for cash, net of offering costs	`ProceedsFromIssuanceOrSaleOfEquity`	$1.38M	USD	Annual
Proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	$70.00K	USD	Annual
Proceeds from related party notes	`ProceedsFromRelatedPartyDebt`	-	USD	Annual
Repayment of related party notes	`RepaymentsOfRelatedPartyDebt`	$70.00K	USD	Annual
Repayment of related party notes	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Issuance of convertible note	`ProceedsFromConvertibleDebt`	$291.50K	USD	Annual
Issuance of convertible note	`ProceedsFromConvertibleDebt`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.67M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$946.32K	USD	Annual
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-116.74K	USD	Annual
DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.65M	USD	Annual
CASH, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$344.14K	USD	Point-in-time
CASH, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$1.99M	USD	Point-in-time
CASH, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$227.40K	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
CASH, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$227.40K	USD	Point-in-time
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	Annual

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-656.93K	USD	Point-in-time
Balance	`StockholdersEquity`	$-229.32K	USD	Point-in-time
Balance	`StockholdersEquity`	$-848.59K	USD	Point-in-time
Common stock issued to officers and employees	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.78M	USD	Annual
Common stock issued to officers and employees	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$73.59K	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$946.32K	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$1.38M	USD	Annual
Common stock issued for license termination	`CommonStockIssuedForLicenseTermination`	$106.25K	USD	Annual
Common stock issued for license termination	`CommonStockIssuedForLicenseTermination`	$763.47K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-74.50K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-239.10K	USD	Annual
Reversal of subscription receivable	`ReversalOfSubscriptionReceivable`	-	USD	Annual
Common stock issued with convertible note	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$44.61K	USD	Annual
Common stock issued with convertible note, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	15.00M	shares	Annual
Common stock issued with convertible note, shares	`StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities`	15.00M	shares	Annual
Issuance of warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$84.23K	USD	Annual
Beneficial conversion feature on convertible note	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$135.99K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.64M	USD	Annual
Net loss	`NetIncomeLoss`	$-4.42M	USD	Annual
Balance	`StockholdersEquity`	$-656.93K	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.