10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-004467`
Period End Date	20211231
Filing Date	20220214
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 24 Cash Flow Statement 36 Stockholders Equity 13

Balance Sheet 49 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	82.93M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	82.93M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	96.34M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	96.34M	shares	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$279.83K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	13.41M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	13.41M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$208.83K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease ROU asset	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Deferred costs	`DeferredCosts`	$465.00K	USD	Point-in-time
Deferred costs	`DeferredCosts`	$510.00K	USD	Point-in-time
Total assets	`Assets`	$5.93M	USD	Point-in-time
Total assets	`Assets`	$6.75M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.29M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.46M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$25.00K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.29M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 82,927,311 and 82,927,311 shares outstanding; and 96,342,125 and 96,342,125 issued as of December 31, 2021, and September 30, 2021, respectively	`CommonStockValue`	$963.42K	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 82,927,311 and 82,927,311 shares outstanding; and 96,342,125 and 96,342,125 issued as of December 31, 2021, and September 30, 2021, respectively	`CommonStockValue`	$963.42K	USD	Point-in-time
Treasury stock, at cost, 13,414,814 and 13,414,814 shares as of December 31, 2021, and September 30, 2021, respectively	`TreasuryStockValue`	$590.00K	USD	Point-in-time
Treasury stock, at cost, 13,414,814 and 13,414,814 shares as of December 31, 2021, and September 30, 2021, respectively	`TreasuryStockValue`	$590.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$76.45M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$76.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-71.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-72.18M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-946.67K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-137.96K	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$6.75M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.93M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.75K	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`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$8.75K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$661.69K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$469.02K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$53.39K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$25.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$121.79K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$129.64K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$652.05K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$808.49K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-799.74K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-652.05K	USD	1 Quarter
Interest income (expense), net	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Interest income (expense), net	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-652.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-799.74K	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`	$-0.01	USD	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.38M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	83.16M	shares	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-652.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-799.74K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$45.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$41.02K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$22.56K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-71.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-136.39K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-198.92K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.11K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-10.00K	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-8.75K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-629.96K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-712.41K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Purchase of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Purchase of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$10.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$40.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	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`	$-712.41K	USD	1 Quarter
DECREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-679.96K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$399.88K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.78M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.07M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.08M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$399.88K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.78M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.07M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.08M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$4.64M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-946.67K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$5.27M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-137.96K	USD	Point-in-time
Preferred and treasury shares acquired	`TreasuryStockValueAcquiredCostMethod`	$50.00K	USD	1 Quarter
Stock option expense issued to directors & employees	`AdjustmentsToAdditionalPaidInCapitalOther`	$22.56K	USD	1 Quarter
Stock option expense issued to directors & employees	`AdjustmentsToAdditionalPaidInCapitalOther`	$41.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-652.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-799.74K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$4.64M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-946.67K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$5.27M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-137.96K	USD	Point-in-time

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