10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-009098`
Period End Date	20200331
Filing Date	20200515
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	clok-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 49 Cash Flow Statement 48 Stockholders Equity 26

Balance Sheet 66 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
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.47M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.84M	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
Prepaid expenses	`PrepaidExpenseCurrent`	$55.33K	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.53M	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`	$7.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.57K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$109.80K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.79M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.64M	shares	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	$477.11K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.79M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$56.85K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$40.18K	USD	Point-in-time
Total assets	`Assets`	$8.01M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	149,557.00	shares	Point-in-time
Total assets	`Assets`	$4.17M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	149,557.00	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$650.68K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.08M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$184.39K	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`	$180.89K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$22.92K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$28.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$821.37K	USD	Point-in-time
Operating lease liability - long-term portion	`OperatingLeaseLiabilityNoncurrent`	$749.05K	USD	Point-in-time
Operating lease liability - long-term portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$821.37K	USD	Point-in-time
Total liabilities	`Liabilities`	$2.22M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A convertible preferred stock, $0.01 par value, 1,000,000 shares authorized; 1,000,000 shares issued and outstanding as of March 31, 2020 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 shares issued and outstanding as of March 31, 2020 and September 30, 2019	`PreferredStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.01 par value, 681,000,000 shares authorized; 40,642,953 and 40,792,510 shares issued and outstanding as of March 31, 2020 and September 30, 2019, respectively	`CommonStockValue`	$407.93K	USD	Point-in-time
Common stock, $0.01 par value, 681,000,000 shares authorized; 40,642,953 and 40,792,510 shares issued and outstanding as of March 31, 2020 and September 30, 2019, respectively	`CommonStockValue`	$407.93K	USD	Point-in-time
Treasury stock, at cost 149,557 shares	`TreasuryStocksValue`	-	USD	Point-in-time
Treasury stock, at cost 149,557 shares	`TreasuryStocksValue`	$-150.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.32M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-66.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.13M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$11.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.91M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.17M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.01M	USD	Point-in-time

Income Statement 49 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$30.48K	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$11.73K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$11.73K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$30.48K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$505.81K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.04M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.98M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.28M	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$587.40K	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$648.77K	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$434.80K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$331.36K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$772.58K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$825.57K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.34M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$345.89K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$479.68K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.08M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.21M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.51M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-5.18M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-3.07M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.51M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.42M	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$2.43K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	-	USD	2 Qtrs
Interest income	`InterestIncomeExpenseNet`	$3.33K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.18M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.07M	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.13	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.78M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.77M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.79M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.79M	shares	2 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.18M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.07M	USD	1 Quarter
Depreciation	`Depreciation`	$4.04K	USD	2 Qtrs
Depreciation	`Depreciation`	$12.30K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$51.22K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$90.85K	USD	2 Qtrs
Impairment loss	`OperatingLeaseImpairmentLoss`	-	USD	2 Qtrs
Impairment loss	`OperatingLeaseImpairmentLoss`	$447.02K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$36.19K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$95.03K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$435.08K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-15.23K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$77.13K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$42.10K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-5.48K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.19M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.49M	USD	2 Qtrs
Funding of note receivable	`PaymentsofOfNoteReceivable`	-	USD	2 Qtrs
Funding of note receivable	`PaymentsofOfNoteReceivable`	$-401.00K	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquireProductiveAssets`	$28.97K	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquireProductiveAssets`	$37.06K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-438.06K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.97K	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfTreasuryStock`	-	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfTreasuryStock`	$150.00K	USD	2 Qtrs
Refund of over subscription	`RefundOfOverSubscription`	$40.00K	USD	2 Qtrs
Refund of over subscription	`RefundOfOverSubscription`	-	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-40.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-150.00K	USD	2 Qtrs
INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.97M	USD	2 Qtrs
INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.37M	USD	2 Qtrs
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.47M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.06M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.09M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.47M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.06M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.09M	USD	Point-in-time
Capitalization of ROU asset	`RightOfUseAssetInNonCashActivity`	-	USD	2 Qtrs
Capitalization of ROU asset	`RightOfUseAssetInNonCashActivity`	$929.94K	USD	2 Qtrs
ST operating lease liability recorded	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	2 Qtrs
ST operating lease liability recorded	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	$180.89K	USD	2 Qtrs
LT operating lease liability recorded	`LongTermOperatingLeaseLiabilityInNonCashActivity`	$749.05K	USD	2 Qtrs
LT operating lease liability recorded	`LongTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	2 Qtrs

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.91M	USD	Point-in-time
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$40.00K	USD	2 Qtrs
Options issued to directors & employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$90.85K	USD	2 Qtrs
Options issued to directors & employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$39.27K	USD	1 Quarter
Purchase of treasury stock	`PurchaseOfTreasuryStock`	$-150.00K	USD	2 Qtrs
Purchase of treasury stock	`PurchaseOfTreasuryStock`	$-150.00K	USD	1 Quarter
Correction of common stock outstanding	`CorrectionOfCommonStockOutstanding`	-	USD	2 Qtrs
Common stock issued to employee	`CommonStockIssuedToEmployee`	$11.22K	USD	1 Quarter
Common stock issued to employee	`CommonStockIssuedToEmployee`	$11.22K	USD	2 Qtrs
Refund oversubscription	`AdjustmentsToAdditionalPaidInCapitalRefundOversubscription`	$-40.00K	USD	2 Qtrs
Refund oversubscription	`AdjustmentsToAdditionalPaidInCapitalRefundOversubscription`	$-40.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.18M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.07M	USD	1 Quarter
Balance	`StockholdersEquity`	$13.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$11.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$7.19M	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.