10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-003998`
Period End Date	20221231
Filing Date	20230209
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 24 Cash Flow Statement 40 Stockholders Equity 14

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Series A convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.55M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.03M	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$570.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$612.00K	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	100.00	shares	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	100.00	shares	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$320.00K	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 authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$274.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	148.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	148.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	148.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	148.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	59.90M	shares	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.36M	USD	Point-in-time
Goodwill	`Goodwill`	$1.36M	USD	Point-in-time
Intangibles	`IntangibleAssetsNetExcludingGoodwill`	$4.94M	USD	Point-in-time
Intangibles	`IntangibleAssetsNetExcludingGoodwill`	$4.94M	USD	Point-in-time
Deferred costs	`DeferredCosts`	$285.00K	USD	Point-in-time
Deferred costs	`DeferredCosts`	$330.00K	USD	Point-in-time
Total assets	`Assets`	$10.16M	USD	Point-in-time
Total assets	`Assets`	$10.77M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$698.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$786.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$130.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$74.00K	USD	Point-in-time
Promissory note payable	`NotesPayableCurrent`	$50.00K	USD	Point-in-time
Promissory note payable	`NotesPayableCurrent`	$50.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$195.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$195.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.16M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$211.00K	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$211.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.23M	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, $0.001 par value, 10,000,000 shares authorized; 100 and 100 shares issued and outstanding as of December 31, 2022 and September 30, 2022	`PreferredStockValue`	-	USD	Point-in-time
Series A convertible preferred stock, $0.001 par value, 10,000,000 shares authorized; 100 and 100 shares issued and outstanding as of December 31, 2022 and September 30, 2022	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 148,904,613 and 148,724,056 shares issued and outstanding; December 31, 2022 and September 30, 2022	`CommonStockValue`	$149.00K	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 148,904,613 and 148,724,056 shares issued and outstanding; December 31, 2022 and September 30, 2022	`CommonStockValue`	$149.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$427.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$194.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.93M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.77M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.16M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.55M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.05M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$681.00K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$476.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$865.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$572.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.03M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$205.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$43.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$307.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	-	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$135.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$248.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.47M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-607.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$324.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncome`	$4.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncome`	$5.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-602.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$328.00K	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net loss per common share basic and diluted	`EarningsPerShareBasic`	-	USD	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	148.73M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	59.90M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-602.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$328.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$45.00K	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$115.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-136.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-42.00K	USD	1 Quarter
Unbilled revenue	`IncreaseDecreaseInUnbilledRevenue`	$-95.00K	USD	1 Quarter
Unbilled revenue	`IncreaseDecreaseInUnbilledRevenue`	-	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$163.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-67.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-56.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-130.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-477.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$592.00K	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	-	USD	1 Quarter
Purchase of fixed assets	`PaymentsToAcquireProductiveAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Equity redemption	`EquityRedemptionsRelatedToFinancingActivies`	$50.00K	USD	1 Quarter
Equity redemption	`EquityRedemptionsRelatedToFinancingActivies`	-	USD	1 Quarter
Equity distribution	`EquityDistributionsRelatedToFinancingActivies`	-	USD	1 Quarter
Equity distribution	`EquityDistributionsRelatedToFinancingActivies`	$461.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-511.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
(DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-477.00K	USD	1 Quarter
(DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$81.00K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.55M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$348.00K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.03M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$429.00K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.55M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$348.00K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.03M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$429.00K	USD	Point-in-time
Stock-based compensation included in accounts payable and accrued liabilities	`StockbasedCompensationIncludedInAccountsPayableAndAccruedLiabilities`	$21.00K	USD	Point-in-time
Equity redemption with notes payable	`EquityRedemptionWithNotePayable`	$50.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$9.40M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$427.00K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$194.00K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$8.93M	USD	Point-in-time
Equity redemptions	`EquityRedemptions`	$-100.00K	USD	1 Quarter
Equity distributions	`EquityDistributions`	$-461.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-602.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$328.00K	USD	1 Quarter
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$18.00K	USD	1 Quarter
Stock-based compensation expense issued to directors & employees	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$118.00K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$9.40M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$427.00K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$194.00K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$8.93M	USD	Point-in-time

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