10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-013355`
Period End Date	20220331
Filing Date	20220513
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 44 Cash Flow Statement 42 Stockholders Equity 25

Balance Sheet 47 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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.39M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	82.93M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	87.56M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.78M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	100.98M	shares	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	96.34M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$143.21K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	13.41M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$279.83K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	13.41M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.71M	USD	Point-in-time
Deferred costs	`DeferredCosts`	$420.00K	USD	Point-in-time
Deferred costs	`DeferredCosts`	$510.00K	USD	Point-in-time
Total assets	`Assets`	$6.75M	USD	Point-in-time
Total assets	`Assets`	$5.13M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.46M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$433.71K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$25.00K	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$433.71K	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`	$433.71K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 87,560,647 and 82,927,311 shares outstanding; and 100,975,461 and 96,342,125 issued as of March 31, 2022, and September 30, 2021, respectively	`CommonStockValue`	$100.97K	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 87,560,647 and 82,927,311 shares outstanding; and 100,975,461 and 96,342,125 issued as of March 31, 2022, and September 30, 2021, respectively	`CommonStockValue`	$96.34K	USD	Point-in-time
Treasury stock, at cost, 13,414,814 and 13,414,814 shares as of March 31, 2022, 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 March 31, 2022, and September 30, 2021, respectively	`TreasuryStockValue`	$590.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$77.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$78.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-72.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-71.53M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.50M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.70M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$4.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-946.67K	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`	$5.13M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$251.00	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.67K	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$251.00	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$15.42K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.67K	USD	1 Quarter
Gross profit	`GrossProfit`	$251.00	USD	2 Qtrs
Gross profit	`GrossProfit`	$251.00	USD	1 Quarter
Gross profit	`GrossProfit`	$15.42K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$607.01K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.08M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$889.17K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.55M	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$56.25K	USD	2 Qtrs
Selling and marketing	`SellingAndMarketingExpense`	$31.25K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$52.38K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$105.77K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$270.56K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$296.88K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$175.08K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$140.92K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.90M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$800.31K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.45M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-800.06K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.45M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.09M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.89M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.89M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.45M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-800.06K	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasic`	$-0.07	USD	2 Qtrs
Net loss per common share basic and diluted	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Net loss per common share basic and diluted	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	27.77M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	84.99M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	27.57M	shares	2 Qtrs
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	83.95M	shares	2 Qtrs

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.89M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.45M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-800.06K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	-	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$90.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$79.66K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$51.57K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-342.54K	USD	2 Qtrs
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-136.62K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-220.02K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$374.09K	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	-	USD	2 Qtrs
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$208.75K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-15.42K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.39M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-898.95K	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchases of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$40.00K	USD	2 Qtrs
Purchase of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	$10.00K	USD	2 Qtrs
Purchase of preferred stock	`PaymentsForRepurchaseOfPreferredStockAndPreferenceStock`	-	USD	2 Qtrs
Proceeds from the issuance of common stock, net of costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from the issuance of common stock, net of costs	`ProceedsFromIssuanceOfCommonStock`	$5.50M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.45M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
(DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.55M	USD	2 Qtrs
(DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.39M	USD	2 Qtrs
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.63M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.08M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.39M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.78M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.63M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.08M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$4.39M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.78M	USD	Point-in-time
Shares issued for services, previously in accrued expenses	`SharesIssuedForServicesPreviouslyInAccruedExpenses`	-	USD	2 Qtrs
Shares issued for services, previously in accrued expenses	`SharesIssuedForServicesPreviouslyInAccruedExpenses`	$834.00K	USD	2 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$3.50M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$4.70M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$4.64M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$5.27M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-946.67K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-137.96K	USD	Point-in-time
Options issued to directors & employees	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$29.01K	USD	1 Quarter
Options issued to directors & employees	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$38.63K	USD	1 Quarter
Options issued to directors & employees	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$51.57K	USD	2 Qtrs
Options issued to directors & employees	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$79.66K	USD	2 Qtrs
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$834.00K	USD	2 Qtrs
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$834.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.89M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.09M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.45M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-800.06K	USD	1 Quarter
Preferred and treasury shares acquired	`TreasuryStockValueAcquiredCostMethod`	$50.00K	USD	2 Qtrs
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$5.50M	USD	2 Qtrs
Issuance of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$5.50M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$3.50M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$4.70M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$4.64M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$5.27M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-946.67K	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.