10-K Filing

SIDECHANNEL, INC. CIK: 1022505 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001493152-23-046278`
Period End Date	20230930
Filing Date	20231227
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 39 Cash Flow Statement 53 Stockholders Equity 19

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`	$1.05M	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	100.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.03M	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$834.00K	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`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$381.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$320.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1,000.00	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	681.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	213.85M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	148.72M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.45M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	100.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	148.72M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	213.85M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$30.00K	USD	Point-in-time
Goodwill	`Goodwill`	$1.36M	USD	Point-in-time
Goodwill	`Goodwill`	$1.36M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$4.94M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Deferred costs	`DeferredCosts`	$330.00K	USD	Point-in-time
Deferred costs	`DeferredCosts`	$150.00K	USD	Point-in-time
Total assets	`Assets`	$10.77M	USD	Point-in-time
Total assets	`Assets`	$3.98M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$613.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$786.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$194.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$280.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$130.00K	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`	$11.00K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$195.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$954.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.16M	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	-	USD	Point-in-time
Deferred tax liability	`DeferredIncomeTaxLiabilitiesNet`	$211.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$954.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.37M	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; 0 and 100 shares issued and outstanding as of September 30, 2023 and 2022, respectively	`PreferredStockValue`	-	USD	Point-in-time
Series A convertible preferred stock, $0.001 par value, 10,000,000 shares authorized; 0 and 100 shares issued and outstanding as of September 30, 2023 and 2022, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 213,854,781 and 148,724,056 shares issued and outstanding as of September 30, 2023 and 2022, respectively	`CommonStockValue`	$149.00K	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 213,854,781 and 148,724,056 shares issued and outstanding as of September 30, 2023 and 2022, respectively	`CommonStockValue`	$214.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.18M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$427.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.03M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.98M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.77M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.79M	USD	Annual
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.57M	USD	Annual
Cost of revenues	`CostOfRevenue`	$3.24M	USD	Annual
Cost of revenues	`CostOfRevenue`	$2.47M	USD	Annual
Gross profit	`GrossProfit`	$3.33M	USD	Annual
Gross profit	`GrossProfit`	$2.32M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.48M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.59M	USD	Annual
Selling and marketing	`SellingAndMarketingExpense`	$1.34M	USD	Annual
Selling and marketing	`SellingAndMarketingExpense`	$367.00K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$669.00K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$178.00K	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	$5.70M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	-	USD	Annual
Intangible asset impairment	`ImpairmentOfIntangibleAssetsFinitelived`	$4.94M	USD	Annual
Intangible asset impairment	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	Annual
Acquisition costs	`AcquisitionCosts`	$6.19M	USD	Annual
Acquisition costs	`AcquisitionCosts`	$214.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$10.75M	USD	Annual
Total operating expenses	`OperatingExpenses`	$13.91M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-7.41M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-11.59M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$525.00K	USD	Point-in-time
Other income, net	`NonoperatingIncomeExpense`	$13.00K	USD	Annual
Other income, net	`NonoperatingIncomeExpense`	$29.00K	USD	Annual
Net loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-7.38M	USD	Annual
Net loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-11.58M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$195.00K	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-379.00K	USD	Annual
Net loss after income tax expense (benefit)	`NetIncomeLoss`	$-11.78M	USD	Annual
Net loss after income tax expense (benefit)	`NetIncomeLoss`	$-7.01M	USD	Annual
Net income (loss) per common share - basic	`EarningsPerShareBasic`	$-0.14	USD	Annual
Net income (loss) per common share - basic	`EarningsPerShareBasic`	$-0.04	USD	Annual
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	$-0.14	USD	Annual
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	$-0.04	USD	Annual
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	82.00M	shares	Annual
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	175.27M	shares	Annual
Weighted average common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.00M	shares	Annual
Weighted average common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	175.27M	shares	Annual

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.78M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.01M	USD	Annual
Depreciation and Amortization	`DepreciationAndAmortization`	$182.00K	USD	Annual
Depreciation and Amortization	`DepreciationAndAmortization`	$46.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$405.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$73.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$27.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$3.00K	USD	Annual
Business combination related costs	`BusinessCombinationAcquisitionRelatedCosts`	$214.00K	USD	Annual
Business combination related costs	`BusinessCombinationAcquisitionRelatedCosts`	$6.06M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	$5.70M	USD	Annual
Goodwill impairment	`GoodwillImpairmentLoss`	-	USD	Annual
Intangible asset impairment	`ImpairmentOfIntangibleAssetsFinitelived`	$4.94M	USD	Annual
Intangible asset impairment	`ImpairmentOfIntangibleAssetsFinitelived`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$225.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$461.00K	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledRevenue`	-	USD	Annual
Unbilled revenue	`IncreaseDecreaseInUnbilledRevenue`	-	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$61.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-15.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-547.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-18.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$150.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-65.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-396.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.95M	USD	Annual
Cash and cash equivalents acquired in connection with the Business Combination	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$-3.59M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.59M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-32.00K	USD	Annual
Equity redemption	`EquityRedemptionsRelatedToFinancingActivies`	$50.00K	USD	Annual
Equity redemption	`EquityRedemptionsRelatedToFinancingActivies`	-	USD	Annual
Equity distribution	`EquityDistributionsRelatedToFinancingActivies`	-	USD	Annual
Equity distribution	`EquityDistributionsRelatedToFinancingActivies`	$461.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-511.00K	USD	Annual
(DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.98M	USD	Annual
(DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.68M	USD	Annual
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.03M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$348.00K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.03M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$348.00K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05M	USD	Point-in-time
Shares issued for services	`SharesIssuedForServicesNonCashInvestingAndFinancingActivities`	$43.00K	USD	Annual
Shares issued for services	`SharesIssuedForServicesNonCashInvestingAndFinancingActivities`	$66.00K	USD	Annual
Equity redemption with notes payable	`EquityRedemptionWithNotePayable`	$50.00K	USD	Annual
Equity redemption with notes payable	`EquityRedemptionWithNotePayable`	-	USD	Annual
Stock-based compensation included in accounts payable and accrued liabilities	`StockBasedCompensationIncludedInAccountsPayableAndAccruedLiabilities`	$21.00K	USD	Annual
Stock-based compensation included in accounts payable and accrued liabilities	`StockBasedCompensationIncludedInAccountsPayableAndAccruedLiabilities`	-	USD	Annual
Assets acquired and liabilities assumed	`AssetsAcquiredAndLiabilitiesAssumed`	$11.58M	USD	Annual
Assets acquired and liabilities assumed	`AssetsAcquiredAndLiabilitiesAssumed`	-	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$427.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$9.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.03M	USD	Point-in-time
Equity redemptions	`EquityRedemptions`	$-100.00K	USD	Annual
Equity distributions	`EquityDistributions`	$-461.00K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$66.00K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$43.00K	USD	Annual
Shares issued for vesting of RSUs	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$30.00K	USD	Annual
Acquisition costs contingent consideration	`AdjustmentsToAdditionalPaidInCapitalOther`	$6.06M	USD	Annual
Cipherloc Business Combination	`StockIssuedDuringPeriodValueAcquisitions`	$15.17M	USD	Annual
Cipherloc Business Combination, shares	`StockIssuedDuringPeriodSharesAcquisitions`	2.12M	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-11.78M	USD	Annual
Net loss	`NetIncomeLoss`	$-7.01M	USD	Annual
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$360.00K	USD	Annual
Conversion of Preferred to Common	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Business Combination Contingent Consideration	`StockIssuedDuringPeriodValueNewIssues`	$214.00K	USD	Annual
Balance	`StockholdersEquity`	$427.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$9.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.03M	USD	Point-in-time

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