$CBGL
Cannabis Global, Inc.

2015 Q1 Form 10-Q Financial Statement

#000114420415022554 Filed on April 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q3 2014 Q1
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
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.00K $10.00K $10.82K
YoY Change -7.59% 0.0% -1.8%
Operating Profit -$10.82K
YoY Change -1.8%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$671.00
YoY Change
Pretax Income -$10.00K -$10.00K -$10.00K
YoY Change 0.0% 0.0% 0.0%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$10.00K -$10.00K -$11.49K
YoY Change -12.98% 0.0% 4.29%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 53.86M shares 53.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2014 Q3 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.00K $50.00K $70.00K
YoY Change -71.43% 150.0% 75.0%
Cash & Equivalents $51.74K $70.50K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00 $0.00
YoY Change
Inventory
Prepaid Expenses $500.00 $0.00 $0.00
Receivables
Other Receivables
Total Short-Term Assets $20.00K $51.74K $70.50K
YoY Change -71.63% 142.07% 76.25%
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 $20.00K $51.74K $70.50K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $20.00K $51.74K $70.50K
YoY Change -71.63% 142.07% 76.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $3.315K $6.115K
YoY Change -100.0% 306.25%
Accrued Expenses $10.00K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $70.00K $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $80.00K $3.315K $6.115K
YoY Change 1208.26% 306.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $70.00K $70.00K
YoY Change -100.0%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $70.00K $70.00K
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.00K $3.315K $6.115K
Total Long-Term Liabilities $0.00 $70.00K $70.00K
Total Liabilities $76.07K $76.46K $76.79K
YoY Change -0.93% 9269.61%
SHAREHOLDERS EQUITY
Retained Earnings -$616.3K -$586.8K
YoY Change 8.36%
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 -$54.20K -$24.71K -$6.288K
YoY Change
Total Liabilities & Shareholders Equity $21.87K $51.74K $70.50K
YoY Change -68.97% 142.07% 76.25%

Cashflow Statement

Concept 2015 Q1 2014 Q3 2014 Q1
OPERATING ACTIVITIES
Net Income -$10.00K -$10.00K -$11.49K
YoY Change -12.98% 0.0% 4.29%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$20.00K -$10.00K -$10.00K
YoY Change 100.0% 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 70.00K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -20.00K -10.00K -10.00K
Cash From Investing Activities
Cash From Financing Activities 0.000 0.000 70.00K
Net Change In Cash -20.00K -10.00K 60.00K
YoY Change -133.33% 0.0% -400.0%
FREE CASH FLOW
Cash From Operating Activities -$20.00K -$10.00K -$10.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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51744 USD
CY2015Q1 us-gaap Liabilities
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CY2014Q3 us-gaap Liabilities Current
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us-gaap Interest Expense Debt
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CY2015Q1 us-gaap Interest Payable Current And Noncurrent
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CY2014Q1 us-gaap Proceeds From Notes Payable
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CY2014Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
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CY2015Q1 us-gaap Long Term Notes Payable
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CY2014Q3 us-gaap Common Stock Value
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CY2015Q1 us-gaap Additional Paid In Capital
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CY2014Q3 us-gaap Additional Paid In Capital
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CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
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-586809 USD
CY2015Q1 us-gaap Stockholders Equity
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-54198 USD
CY2014Q3 us-gaap Stockholders Equity
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CY2015Q1 us-gaap Liabilities And Stockholders Equity
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CY2014Q3 us-gaap Liabilities And Stockholders Equity
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CY2015Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2014Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2015Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2014Q3 us-gaap Common Stock Shares Authorized
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CY2015Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2014Q3 us-gaap Common Stock Shares Issued
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CY2015Q1 us-gaap Common Stock Shares Outstanding
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CY2014Q1 us-gaap Revenues
Revenues
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CY2015Q1 us-gaap Revenues
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Accounts Payable
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5299 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2815 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
671 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
2430 USD
us-gaap Net Cash Provided By Used In Operating Activities
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-20637 USD
us-gaap Net Cash Provided By Used In Operating Activities
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-30371 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Nature Of Operations
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Note 1. Organization and Description of Business</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">MicroChannel Technologies Corporation (the &#8220;Company&#8221;) was formed as a wholly-owned subsidiary of New Energy Technologies, Inc. (&#8220;New Energy&#8221;). New Energy spun off its issued and outstanding shares to New Energy&#8217;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="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">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> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
dei Document Type
DocumentType
10-Q
dei Amendment Flag
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false
dei Document Period End Date
DocumentPeriodEndDate
2015-02-28
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
MICROCHANNEL TECHNOLOGIES CORP
dei Entity Central Index Key
EntityCentralIndexKey
0001413488
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--08-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
MCTC
CY2015Q2 dei Entity Common Stock Shares Outstanding
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CY2015Q1 us-gaap Prepaid Expense Current
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CY2015Q1 us-gaap Interest Payable Current
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CY2014Q3 us-gaap Interest Payable Current
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CY2015Q1 us-gaap Notes Payable Current
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CY2014Q3 us-gaap Notes Payable Current
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us-gaap Proceeds From Notes Payable
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us-gaap Proceeds From Notes Payable
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Interest Paid
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us-gaap Interest Paid
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Files In Submission

Name View Source Status
0001144204-15-022554-index-headers.html Edgar Link pending
0001144204-15-022554-index.html Edgar Link pending
0001144204-15-022554.txt Edgar Link pending
0001144204-15-022554-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
mctc-20150228.xml Edgar Link completed
mctc-20150228.xsd Edgar Link pending
mctc-20150228_cal.xml Edgar Link unprocessable
mctc-20150228_def.xml Edgar Link unprocessable
mctc-20150228_lab.xml Edgar Link unprocessable
mctc-20150228_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R2.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
v405536_10q.htm Edgar Link pending
v405536_ex31-1.htm Edgar Link pending
v405536_ex32-1.htm Edgar Link pending