10-Q Filing

SIDECHANNEL, INC. CIK: 1022505 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001493152-24-005198`
Period End Date	20231231
Filing Date	20240207
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 32 Cash Flow Statement 35 Stockholders Equity 18

Balance Sheet 54 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 issued	`CommonStockSharesIssued`	213.85M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	221.65M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$819.00K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$834.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	213.85M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	221.65M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$868.00K	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Deferred costs	`DeferredCostsCurrent`	$180.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$278.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$381.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.15M	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	$30.00K	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	$27.00K	USD	Point-in-time
Goodwill	`Goodwill`	$1.36M	USD	Point-in-time
Goodwill	`Goodwill`	$1.36M	USD	Point-in-time
Deferred costs	`DeferredCosts`	$105.00K	USD	Point-in-time
Deferred costs	`DeferredCosts`	$150.00K	USD	Point-in-time
Total assets	`Assets`	$3.98M	USD	Point-in-time
Total assets	`Assets`	$3.63M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$613.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$511.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$280.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$238.00K	USD	Point-in-time
Promissory note payable	`NotesPayableCurrent`	-	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`	$11.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$954.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$760.00K	USD	Point-in-time
Other Liabilities	`OtherLiabilities`	-	USD	Point-in-time
Other Liabilities	`OtherLiabilities`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$760.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$954.00K	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 221,645,310 and 213,854,781 shares issued and outstanding as of Dec 31, 2023 and Sep 30, 2023	`CommonStockValue`	$222.00K	USD	Point-in-time
Common stock, $0.001 par value, 681,000,000 shares authorized; 221,645,310 and 213,854,781 shares issued and outstanding as of Dec 31, 2023 and Sep 30, 2023	`CommonStockValue`	$214.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$21.75M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-19.18M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-18.94M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$3.03M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$9.40M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.93M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.98M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.63M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.74M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.55M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$891.00K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$681.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$865.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$845.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.03M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$709.00K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$307.00K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$269.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$135.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$126.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.47M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.10M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-259.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-607.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$13.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$5.00K	USD	1 Quarter
Net loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-602.00K	USD	1 Quarter
Net loss before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-246.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss) after income tax expense	`NetIncomeLoss`	$-246.00K	USD	1 Quarter
Net income (loss) after income tax expense	`NetIncomeLoss`	$-602.00K	USD	1 Quarter
Net income (loss) per common share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per common share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per common share - diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	148.73M	shares	1 Quarter
Weighted average common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	214.58M	shares	1 Quarter
Weighted average common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	214.58M	shares	1 Quarter
Weighted average common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	148.73M	shares	1 Quarter

Cash Flow Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-246.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-602.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$45.00K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$48.00K	USD	1 Quarter
Stock-based compensation, shares issued for services, and RSU vesting, net	`ShareBasedCompensation`	$115.00K	USD	1 Quarter
Stock-based compensation, shares issued for services, and RSU vesting, net	`ShareBasedCompensation`	$88.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-42.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$34.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-103.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-67.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-101.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-42.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-56.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-477.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-184.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Note payable	`RepaymentsOfNotesPayable`	$50.00K	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) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-234.00K	USD	1 Quarter
(DECREASE) INCREASE IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-477.00K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.55M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$819.00K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.03M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.55M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$819.00K	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.03M	USD	Point-in-time
CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.05M	USD	Point-in-time
Stock-based compensation included in accounts payable and accrued liabilities	`StockBasedCompensationIncludedInAccountsPayableAndAccruedLiabilities`	$21.00K	USD	1 Quarter
Stock-based compensation included in accounts payable and accrued liabilities	`StockBasedCompensationIncludedInAccountsPayableAndAccruedLiabilities`	-	USD	1 Quarter
Shares Issued for Services	`SharesIssuedForServicesNonCashInvestingAndFinancingActivities`	$18.00K	USD	1 Quarter
Shares Issued for Services	`SharesIssuedForServicesNonCashInvestingAndFinancingActivities`	$8.00K	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$3.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.93M	USD	Point-in-time
Shares issued for 2021 Investor Warrants	`StockIssuedDuringPeriodValueForWarrants`	-	USD	1 Quarter
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$8.00K	USD	1 Quarter
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$18.00K	USD	1 Quarter
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	18,000.00	shares	1 Quarter
Shares issued for services, shares	`StockIssuedDuringPeriodSharesIssuedForServices`	8,000.00	shares	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$118.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$86.00K	USD	1 Quarter
Stock issued for RSU vesting, net	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$-5.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-246.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-602.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$3.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.40M	USD	Point-in-time
Balance	`StockholdersEquity`	$2.87M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.93M	USD	Point-in-time

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