10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-003963`
Period End Date	20201231
Filing Date	20210216
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	clok-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 25 Cash Flow Statement 43 Stockholders Equity 14

Balance Sheet 64 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`	-	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.08M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$399.88K	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	1.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$258.42K	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`	-	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$181.90K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.34M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$581.78K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$200.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$140.13K	USD	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	$291.14K	USD	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	$260.78K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.38M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	27.51M	shares	Point-in-time
Total assets	`Assets`	$1.83M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.79M	shares	Point-in-time
Total assets	`Assets`	$982.69K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.79M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	13.29M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	13.41M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$852.93K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$840.23K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$10.00K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$135.06K	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$132.61K	USD	Point-in-time
Paycheck protection program loan - current portion	`PaycheckProtectionProgramLoanCurrent`	$260.50K	USD	Point-in-time
Paycheck protection program loan - current portion	`PaycheckProtectionProgramLoanCurrent`	$216.90K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$15.42K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$6.67K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
Paycheck protection program loan - long term	`PaycheckProtectionProgramLoanLongTerm`	$148.53K	USD	Point-in-time
Paycheck protection program loan - long term	`PaycheckProtectionProgramLoanLongTerm`	$104.93K	USD	Point-in-time
Operating lease liability - long-term portion	`OperatingLeaseLiabilityNoncurrent`	$603.68K	USD	Point-in-time
Operating lease liability - long-term portion	`OperatingLeaseLiabilityNoncurrent`	$569.28K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.97M	USD	Point-in-time
Series A convertible preferred stock, $0.01 par value, 1,000,000 shares authorized; nil and 1,000,000 shares issued and outstanding as of December 31, 2020 and September 30, 2020, respectively	`PreferredStockValue`	$10.00K	USD	Point-in-time
Series A convertible preferred stock, $0.01 par value, 1,000,000 shares authorized; nil and 1,000,000 shares issued and outstanding as of December 31, 2020 and September 30, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 681,000,000 shares authorized; 27,377,696 and 27,505,196 shares outstanding; and 40,792,510 and 40,792,510 issued as of December 31, 2020 and September 30, 2020, respectively	`CommonStockValue`	$407.93K	USD	Point-in-time
Common stock, $0.01 par value, 681,000,000 shares authorized; 27,377,696 and 27,505,196 shares outstanding; and 40,792,510 and 40,792,510 issued as of December 31, 2020 and September 30, 2020, respectively	`CommonStockValue`	$407.93K	USD	Point-in-time
Treasury stock, at cost 13,414,814 and 13,287,314 shares as of December 31, 2020 and September 30, 2020, respectively	`TreasuryStockValue`	$590.00K	USD	Point-in-time
Treasury stock, at cost 13,414,814 and 13,287,314 shares as of December 31, 2020 and September 30, 2020, respectively	`TreasuryStockValue`	$550.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.46M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$68.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-68.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-69.23M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$5.13M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-137.96K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$7.19M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-946.67K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.83M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$982.69K	USD	Point-in-time

Income Statement 25 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.75K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.75K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$8.75K	USD	1 Quarter
Gross profit	`GrossProfit`	$18.75K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.30M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$661.69K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$25.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$256.04K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$121.79K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$566.01K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.07M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$808.49K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.11M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-799.74K	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Interest income (expense), net	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-799.74K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$700.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.11M	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`	40.79M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.38M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-799.74K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$700.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.11M	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Depreciation	`Depreciation`	$5.40K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$41.02K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$51.57K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-136.39K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-56.64K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.11K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.42K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-10.00K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-142.29K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-8.75K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-18.75K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.15M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-629.96K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	$13.84K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.84K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Purchase of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$10.00K	USD	1 Quarter
Purchase of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$40.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.00K	USD	1 Quarter
DECREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.16M	USD	1 Quarter
DECREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-679.96K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.08M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.68M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$399.88K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.84M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.08M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.68M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$399.88K	USD	Point-in-time
ROU asset	`RightOfUseAssetInNonCashActivity`	$209.42K	USD	1 Quarter
ROU asset	`RightOfUseAssetInNonCashActivity`	-	USD	1 Quarter
ST operating lease liability	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	$102.25K	USD	1 Quarter
ST operating lease liability	`ShortTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	1 Quarter
LT operating lease liability	`LongTermOperatingLeaseLiabilityInNonCashActivity`	-	USD	1 Quarter
LT operating lease liability	`LongTermOperatingLeaseLiabilityInNonCashActivity`	$102.41K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$-137.96K	USD	Point-in-time
Balance	`StockholdersEquity`	$7.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$-946.67K	USD	Point-in-time
Stock option expense issued to directors and officers	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$41.02K	USD	1 Quarter
Stock option expense issued to directors and officers	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$51.57K	USD	1 Quarter
Preferred and treasury shares acquired	`TreasuryStockValueAcquiredCostMethod`	$50.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-799.74K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$700.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.11M	USD	1 Quarter
Balance	`StockholdersEquity`	$5.13M	USD	Point-in-time
Balance	`StockholdersEquity`	$-137.96K	USD	Point-in-time
Balance	`StockholdersEquity`	$7.19M	USD	Point-in-time
Balance	`StockholdersEquity`	$-946.67K	USD	Point-in-time

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