10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-015702`
Period End Date	20200630
Filing Date	20200814
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	clok-20200630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 52 Cash Flow Statement 52 Stockholders Equity 24

Balance Sheet 68 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.84M	USD	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`	$2.23M	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$26.58K	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$121.37K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.53M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.76M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.57K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$100.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	$321.50K	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
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$31.13K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.79M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$40.18K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.64M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	149,557.00	shares	Point-in-time
Total assets	`Assets`	$8.01M	USD	Point-in-time
Total assets	`Assets`	$2.71M	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`	$676.78K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$142.29K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$40.00K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$116.94K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Paycheck Protection Program loan	`PaycheckProtectionProgramLoan`	$365.43K	USD	Point-in-time
Paycheck Protection Program loan	`PaycheckProtectionProgramLoan`	$365.43K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$28.40K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$24.17K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$821.37K	USD	Point-in-time
Operating lease liability - long-term portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liability - long-term portion	`OperatingLeaseLiabilityNoncurrent`	$637.71K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$821.37K	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 June 30, 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 June 30, 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 June 30, 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 June 30, 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`	$68.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.79M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$9.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$846.01K	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 liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.71M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.85K	USD	3 Qtrs
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.75K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$27.85K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$39.23K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$39.23K	USD	3 Qtrs
Gross profit	`GrossProfit`	$8.75K	USD	1 Quarter
Gross profit	`GrossProfit`	$27.85K	USD	1 Quarter
Gross profit	`GrossProfit`	$27.85K	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$947.31K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$833.26K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$4.11M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.99M	USD	3 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$1.38M	USD	3 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$695.25K	USD	3 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$107.84K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$728.27K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.30M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$478.11K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.54M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$205.61K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.15M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.67M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$2.15M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.35M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.14M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.13M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.31M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-4.64M	USD	3 Qtrs
Loss on disposal of asset	`GainLossOnDispositionOfAssets`	$-19.78K	USD	1 Quarter
Loss on disposal of asset	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Loss on disposal of asset	`GainLossOnDispositionOfAssets`	-	USD	3 Qtrs
Loss on disposal of asset	`GainLossOnDispositionOfAssets`	$-19.78K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$5.94K	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	-	USD	3 Qtrs
Interest income	`InterestIncomeExpenseNet`	$2.61K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.33M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.63M	USD	3 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.11	USD	3 Qtrs
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
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.74M	shares	3 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	3 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	40.64M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.33M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.63M	USD	3 Qtrs
Depreciation	`Depreciation`	$18.24K	USD	3 Qtrs
Depreciation	`Depreciation`	$6.29K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$142.87K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$51.22K	USD	3 Qtrs
Net loss on disposal of asset	`GainLossOnDispositionOfAssets`	$-19.78K	USD	1 Quarter
Net loss on disposal of asset	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Net loss on disposal of asset	`GainLossOnDispositionOfAssets`	-	USD	3 Qtrs
Net loss on disposal of asset	`GainLossOnDispositionOfAssets`	$-19.78K	USD	3 Qtrs
Impairment loss	`OperatingLeaseImpairmentLoss`	-	USD	3 Qtrs
Impairment loss	`OperatingLeaseImpairmentLoss`	$382.96K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.36K	USD	3 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$33.86K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$76.29K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$77.59K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-102.29K	USD	3 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$160.09K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-4.23K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$47.15K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.80M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.32M	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquireProductiveAssets`	$37.06K	USD	3 Qtrs
Purchases of fixed assets	`PaymentsToAcquireProductiveAssets`	$28.97K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-37.06K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.97K	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfTreasuryStock`	$150.00K	USD	3 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfTreasuryStock`	-	USD	3 Qtrs
Proceeds from PPA loan	`ProceedsFromPpaLoan`	$-365.43K	USD	3 Qtrs
Proceeds from PPA loan	`ProceedsFromPpaLoan`	-	USD	3 Qtrs
Refund of over subscription	`RefundOfOverSubscription`	$40.00K	USD	3 Qtrs
Refund of over subscription	`RefundOfOverSubscription`	-	USD	3 Qtrs
Net cash provided (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-40.00K	USD	3 Qtrs
Net cash provided (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$215.43K	USD	3 Qtrs
DECREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.40M	USD	3 Qtrs
DECREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.61M	USD	3 Qtrs
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.65M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.06M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.23M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.65M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.06M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.23M	USD	Point-in-time
Capitalization of ROU asset	`RightOfUseAssetInNonCashActivity`	-	USD	3 Qtrs
Capitalization of ROU asset	`RightOfUseAssetInNonCashActivity`	$746.12K	USD	3 Qtrs
ST operating lease liability recorded	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	3 Qtrs
ST operating lease liability recorded	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	$61.26K	USD	3 Qtrs
LT operating lease liability recorded	`LongTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	3 Qtrs
LT operating lease liability recorded	`LongTermOperatingLeaseLiabilityInNonCashActivity`	$684.86K	USD	3 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$7.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$846.01K	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
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$40.00K	USD	3 Qtrs
Options issued to directors & employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$52.02K	USD	1 Quarter
Options issued to directors & employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$142.78K	USD	3 Qtrs
Purchase of treasury stock	`PurchaseOfTreasuryStock`	$-150.00K	USD	3 Qtrs
Purchase of treasury stock	`PurchaseOfTreasuryStock`	-	USD	1 Quarter
Correction of common stock outstanding	`CorrectionOfCommonStockOutstanding`	-	USD	3 Qtrs
Common stock issued to employee	`CommonStockIssuedToEmployee`	$11.22K	USD	3 Qtrs
Refund oversubscription	`AdjustmentsToAdditionalPaidInCapitalRefundOversubscription`	$-40.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.33M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.63M	USD	3 Qtrs
Balance	`StockholdersEquity`	$7.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$846.01K	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

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