2013 Q3 Form 10-Q Financial Statement
#000114420413039130 Filed on July 11, 2013
Income Statement
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $10.00K | $10.00K | $10.00K |
YoY Change | 0.0% | 0.0% | 0.0% |
% of Gross Profit | |||
Research & Development | $0.00 | $0.00 | $0.00 |
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $10.00K | $8.904K | $6.415K |
YoY Change | 0.0% | 38.8% | -18.38% |
Operating Profit | -$8.904K | -$6.415K | |
YoY Change | 38.8% | -18.38% | |
Interest Expense | $0.00 | $0.00 | $0.00 |
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Pretax Income | -$10.00K | -$10.00K | -$10.00K |
YoY Change | 0.0% | 0.0% | 0.0% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$10.00K | -$8.904K | -$6.415K |
YoY Change | 0.0% | 38.8% | -18.38% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | $0.00 | |
Diluted Earnings Per Share | $0.00 | $0.00 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 53.86M shares | 53.86M shares | 53.86M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $20.00K | $30.00K | $70.00K |
YoY Change | -71.43% | -57.14% | -41.67% |
Cash & Equivalents | $21.14K | $27.41K | $69.62K |
Short-Term Investments | |||
Other Short-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Inventory | |||
Prepaid Expenses | $241.00 | $937.00 | $1.575K |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $21.38K | $28.35K | $71.19K |
YoY Change | -68.28% | -60.18% | -45.24% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | |||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $21.38K | $28.35K | $71.19K |
Total Long-Term Assets | $0.00 | $0.00 | $0.00 |
Total Assets | $21.38K | $28.35K | $71.19K |
YoY Change | -68.28% | -60.18% | -45.24% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $816.00 | $0.00 | $0.00 |
YoY Change | -75.99% | ||
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $816.00 | $0.00 | $0.00 |
YoY Change | -75.99% | ||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $816.00 | $0.00 | $0.00 |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $816.00 | $0.00 | $0.00 |
YoY Change | |||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$541.5K | $533.8K | |
YoY Change | |||
Common Stock | $5.386K | $5.386K | $5.386K |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $20.56K | $28.35K | $71.19K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $21.38K | $28.35K | $71.19K |
YoY Change | -68.28% | -60.18% | -45.24% |
Cashflow Statement
Concept | 2013 Q3 | 2013 Q2 | 2012 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$10.00K | -$8.904K | -$6.415K |
YoY Change | 0.0% | 38.8% | -18.38% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$10.00K | -$10.00K | -$10.00K |
YoY Change | 0.0% | -50.0% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 0.000 | 0.000 |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -10.00K | -10.00K | -10.00K |
Cash From Investing Activities | |||
Cash From Financing Activities | 0.000 | 0.000 | 0.000 |
Net Change In Cash | -10.00K | -10.00K | -10.00K |
YoY Change | 0.0% | -50.0% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$10.00K | -$10.00K | -$10.00K |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
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Net Cash Provided By Used In Operating Activities
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Proceeds From Related Party Debt
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Cash And Cash Equivalents At Carrying Value
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|
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Cash And Cash Equivalents At Carrying Value
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Prepaid Expense Current
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|
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Accounts Payable Current
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Common Stock Value
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Common Stock Value
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Additional Paid In Capital
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Additional Paid In Capital
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|
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Operating Expenses
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|
46588 | USD | |
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Operating Income Loss
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-35654 | USD | |
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Other Expenses
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|
29932 | USD | |
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Operating Expenses
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|
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Related Parties General And Administrative Expense
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Related Parties General And Administrative Expense
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Related Parties General And Administrative Expense
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7350 | USD | |
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Professional Fees
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|
5940 | USD |
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Nonoperating Income Expense
NonoperatingIncomeExpense
|
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Nonoperating Income Expense
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Nonoperating Income Expense
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Net Income Loss
NetIncomeLoss
|
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Net Income Loss
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|
-6415 | USD |
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Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | |
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Weighted Average Number Of Shares Outstanding Basic
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|
53864600 | shares |
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Related Parties General And Administrative Expense
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|
96550 | USD | |
us-gaap |
Professional Fees
ProfessionalFees
|
38544 | USD | |
us-gaap |
Professional Fees
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|
238369 | USD | |
us-gaap |
Other Expenses
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|
2432 | USD | |
us-gaap |
Other Expenses
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|
694 | USD | |
CY2012Q2 | us-gaap |
Operating Expenses
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Operating Expenses
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|
35654 | USD | |
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Operating Income Loss
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Operating Income Loss
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Operating Income Loss
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Operating Income Loss
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Investment Income Interest
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Investment Income Interest
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Net Income Loss
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Net Income Loss
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Net Income Loss
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Net Income Loss
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dei |
Entity Central Index Key
EntityCentralIndexKey
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0001413488 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--08-31 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
MICROCHANNEL TECHNOLOGIES CORP | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-533750 | USD | |
CY2013Q2 | us-gaap |
Development Stage Enterprise Deficit Accumulated During Development Stage
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|
533750 | USD |
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Development Stage Enterprise Deficit Accumulated During Development Stage
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Stockholders Equity
StockholdersEquity
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28347 | USD |
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Stockholders Equity
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Liabilities And Stockholders Equity
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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67400 | USD |
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Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
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Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
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Common Stock Shares Authorized
CommonStockSharesAuthorized
|
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Common Stock Shares Authorized
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Common Stock Shares Issued
CommonStockSharesIssued
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Common Stock Shares Issued
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Common Stock Shares Outstanding
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Common Stock Shares Outstanding
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Revenues
Revenues
|
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Revenues
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Revenues
Revenues
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Revenues
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Revenues
Revenues
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License Costs
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License Costs
LicenseCosts
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License Costs
LicenseCosts
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License Costs
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License Costs
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|
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Research And Development Expense
ResearchAndDevelopmentExpense
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Research And Development Expense
ResearchAndDevelopmentExpense
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Research And Development Expense
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Research And Development Expense
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Research And Development Expense
ResearchAndDevelopmentExpense
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Related Parties General And Administrative Expense
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Professional Fees
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us-gaap |
Professional Fees
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Other Expenses
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|
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CY2012Q2 | us-gaap |
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|
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Operating Expenses
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Investment Income Interest
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Investment Income Interest
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Investment Income Interest
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|
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Nonoperating Income Expense
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|
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Nonoperating Income Expense
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|
8940 | USD | |
us-gaap |
Net Income Loss
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|
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Net Income Loss
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Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | |
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Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | ||
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Earnings Per Share Basic
EarningsPerShareBasic
|
0.00 | ||
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Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
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Weighted Average Number Of Shares Outstanding Basic
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|
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Weighted Average Number Of Shares Outstanding Basic
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|
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Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
149 | USD | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
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Increase Decrease In Prepaid Expense
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|
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Increase Decrease In Accounts Payable
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Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
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Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
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Net Cash Provided By Used In Operating Activities
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|
-39202 | USD | |
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Net Cash Provided By Used In Operating Activities
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|
-45803 | USD | |
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Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | ||
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Document Type
DocumentType
|
10-Q | ||
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Amendment Flag
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false | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2013 | ||
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Document Fiscal Period Focus
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|
Q3 | ||
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Trading Symbol
TradingSymbol
|
mctc | ||
CY2013Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
53864600 | shares |
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Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
0 | USD | |
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Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
561997 | USD | |
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Proceeds From Issuance Of Common Stock
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|
0 | USD | |
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Proceeds From Issuance Of Common Stock
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|
0 | USD | |
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Proceeds From Issuance Of Common Stock
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|
100 | USD | |
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Net Cash Provided By Used In Financing Activities
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0 | USD | |
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Net Cash Provided By Used In Financing Activities
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0 | USD | |
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Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
562097 | USD | |
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Cash And Cash Equivalents Period Increase Decrease
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|
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Cash And Cash Equivalents Period Increase Decrease
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|
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Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents At Carrying Value
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|
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Cash And Cash Equivalents At Carrying Value
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Interest Paid
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|
0 | USD | |
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Interest Paid
InterestPaid
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Interest Paid
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|
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Income Taxes Paid
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Income Taxes Paid
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Income Taxes Paid
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0 | USD | |
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Conversion Of Accounts And Accrued Liabilities To Common Stock
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|
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Conversion Of Accounts And Accrued Liabilities To Common Stock
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|
0 | USD | |
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Conversion Of Accounts And Accrued Liabilities To Common Stock
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561997 | USD | |
CY2013Q2 | us-gaap |
Retained Earnings Accumulated Deficit
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|
533750 | USD |
dei |
Document Period End Date
DocumentPeriodEndDate
|
2013-05-31 | ||
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>Note 1. Organization and Description of Business</strong></div> <div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> MicroChannel Technologies Corporation (the “Company”) was formed as a wholly-owned subsidiary of New Energy Technologies, Inc. (“New Energy”). New Energy spun off its issued and outstanding shares to New Energy’s shareholders on December 18, 2007. The Company was incorporated under the name MultiChannel Technologies Corporation on February 28, 2005 in the State of Nevada, and changed to its existing name on April 4, 2005.</div> <div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company is not currently engaged in any business operations. It is, however, in the process of attempting to identify, locate, and if warranted, acquire new commercial opportunities.</div> | ||
CY2006 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-82739 | USD |
CY2007 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27405 | USD |
CY2008 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-84635 | USD |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <em>Estimates</em></div> <div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses during the reporting period. On an on-going basis, the Company evaluates its estimates. Actual results and outcomes may differ materially from the estimates as additional information becomes known.</div> | ||
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
100 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-52898 | USD | |
CY2007 | us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
561997 | USD |
CY2005Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-52798 | USD |
CY2006Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-135537 | USD |
CY2007Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
399055 | USD |
CY2008Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
314420 | USD |
CY2009Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
236827 | USD |
CY2010Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
166698 | USD |
CY2011Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
117781 | USD |
us-gaap |
Equity Issuance Per Share Amount
EquityIssuancePerShareAmount
|
0.0001 |