10-Q/A Filing

SIDECHANNEL, INC. CIK: 1022505 Q1 2020

Filing Information

Form Type	10-Q/A
Accession Number	`0001493152-20-002637`
Period End Date	20191231
Filing Date	20200218
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	clok-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 25 Cash Flow Statement 44 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`	1.00M	shares	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.84M	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.68M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$64.73K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$121.37K	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.00M	shares	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$14.06M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.74M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.57K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.57K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.79M	shares	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.79M	shares	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	$209.42K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$40.18K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$48.62K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.79M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.79M	shares	Point-in-time
Total assets	`Assets`	$8.01M	USD	Point-in-time
Total assets	`Assets`	$6.01M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$650.68K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$662.86K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$142.29K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$102.25K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$28.40K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$9.65K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$774.76K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$821.37K	USD	Point-in-time
Operating long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	$102.41K	USD	Point-in-time
Operating long-term lease liability	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$817.73K	USD	Point-in-time
Total liabilities	`Liabilities`	$821.37K	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, 1,000,000 shares authorized; 1,000,000 issued and outstanding as of December 31, 2019 and September 30, 2019	`PreferredStockValue`	$10.00K	USD	Point-in-time
Series A convertible preferred stock, $0.01 par value, 1,000,000 shares authorized; 1,000,000 issued and outstanding as of December 31, 2019 and September 30, 2019	`PreferredStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.01 par value, 681,000,000 shares authorized; 40,792,510 and 40,792,510 issued and outstanding as of December 31, 2019 and September 30, 2019, respectively	`CommonStockValue`	$407.93K	USD	Point-in-time
Common stock, $0.01 par value, 681,000,000 shares authorized; 40,792,510 and 40,792,510 issued and outstanding as of December 31, 2019 and September 30, 2019, respectively	`CommonStockValue`	$407.93K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-63.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.13M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.91M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.01M	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.57K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$18.75K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$532.97K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$213.97K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$256.04K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$345.89K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$566.01K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$345.89K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.07M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.11M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.09M	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	$897.00	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.76M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.79M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
Depreciation	`Depreciation`	$1.78K	USD	1 Quarter
Depreciation	`Depreciation`	$5.40K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$51.57K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$40.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-56.64K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$56.99K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$39.74K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.42K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-142.29K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$81.28K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-18.75K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-986.15K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.15M	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	$13.84K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	$17.72K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.72K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.84K	USD	1 Quarter
Common stock issued for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Common stock issued for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from convertible note, net	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from convertible note, net	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
DECREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.00M	USD	1 Quarter
DECREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.16M	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.05M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.06M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.68M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.05M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.06M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.68M	USD	Point-in-time
ROU asset	`RightOfUseAssetInNonCashActivity`	-	USD	1 Quarter
ROU asset	`RightOfUseAssetInNonCashActivity`	$209.42K	USD	1 Quarter
ST operating lease liability	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	1 Quarter
ST operating lease liability	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	$102.25K	USD	1 Quarter
LT operating lease liability	`LongTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	1 Quarter
LT operating lease liability	`LongTermOperatingLeaseLiabilityInNonCashActivity`	$102.41K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.91M	USD	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$40.00K	USD	1 Quarter
Stock option expense issued to directors, officers and employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$51.57K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.11M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
Balance	`StockholdersEquity`	$5.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.91M	USD	Point-in-time

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