2017 Q1 Form 10-Q Financial Statement

#000109991023000020 Filed on January 23, 2023

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $31.68K $38.15K
YoY Change -16.96%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $97.97K $177.6K
YoY Change -44.85%
Operating Profit -$66.29K -$139.5K
YoY Change -52.48%
Interest Expense $52.98K $301.8K
YoY Change -82.44% -205.54%
% of Operating Profit
Other Income/Expense, Net -$97.86K $634.2K
YoY Change -115.43%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$164.2K $494.7K
YoY Change -133.19% -273.0%
Net Earnings / Revenue -518.19% 1296.64%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 223.4M shares 125.4M shares
Diluted Shares Outstanding 1.201B shares 954.7M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $9.362K $7.592K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $5.450K
Prepaid Expenses
Receivables $3.609K
Other Receivables
Total Short-Term Assets $19.92K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $11.75K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $11.75K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $19.92K
Total Long-Term Assets $11.75K
Total Assets $31.67K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $201.3K
YoY Change
Accrued Expenses $2.265M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.491M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.491M
Total Long-Term Liabilities
Total Liabilities $5.491M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$6.278M
YoY Change
Common Stock $235.1K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.459M -$5.666M
YoY Change
Total Liabilities & Shareholders Equity $31.67K
YoY Change

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income -$164.2K $494.7K
YoY Change -133.19% -273.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $99.62K -$80.12K
YoY Change -224.35%
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 $62.14K
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$111.7K $75.98K
YoY Change -246.98%
NET CHANGE
Cash From Operating Activities $99.62K -$80.12K
Cash From Investing Activities
Cash From Financing Activities -$111.7K $75.98K
Net Change In Cash -$12.05K -$4.135K
YoY Change 191.46%
FREE CASH FLOW
Cash From Operating Activities $99.62K -$80.12K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q1 dei Document Period End Date
DocumentPeriodEndDate
2017-02-28
CY2017Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2017Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2017Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2017Q1 dei Entity File Number
EntityFileNumber
000-53157
CY2017Q1 dei Entity Registrant Name
EntityRegistrantName
TELCO CUBA, INC.
CY2017Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2017Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001427644
CY2017Q1 dei Amendment Flag
AmendmentFlag
false
CY2017Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2017Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-30
CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
usd
CY2016Q4 us-gaap Deposits Assets
DepositsAssets
usd
CY2017Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
CY2016Q1 QBAN Conversion Of Preferred B To Common Shares
ConversionOfPreferredBToCommonShares
usd
CY2017Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd
CY2016Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
usd
CY2016Q1 QBAN Depreciations
Depreciations
usd
CY2017Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
CY2016Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
CY2017Q1 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
usd
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2016Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2017Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
usd
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
usd
CY2017Q1 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2016Q1 us-gaap Interest Paid Net
InterestPaidNet
usd
CY2017Q1 QBAN Preferred B Stock Conversion To Common Shares
PreferredBStockConversionToCommonShares
usd
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2017Q1 dei Document Type
DocumentType
10-Q
CY2017Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2017Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2017Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
98-0546544
CY2017Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
454 S Yonge Street
CY2017Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 3A
CY2017Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Ormond Beach
CY2017Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
CY2017Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
32174
CY2017Q1 dei City Area Code
CityAreaCode
305
CY2017Q1 dei Local Phone Number
LocalPhoneNumber
747-7647
CY2017Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2017Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2017Q1 dei Entity Shell Company
EntityShellCompany
false
CY2017Q1 dei Security12b Title
Security12bTitle
Common Stock
CY2017Q1 dei Trading Symbol
TradingSymbol
QBAN
CY2017Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
235141501 shares
CY2017Q1 us-gaap Cash
Cash
9362 usd
CY2016Q4 us-gaap Cash
Cash
21414 usd
CY2017Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3609 usd
CY2017Q1 us-gaap Deposits Assets
DepositsAssets
1500 usd
CY2017Q1 us-gaap Inventory Net
InventoryNet
5450 usd
CY2016Q4 us-gaap Inventory Net
InventoryNet
5450 usd
CY2017Q1 us-gaap Assets Current
AssetsCurrent
19921 usd
CY2016Q4 us-gaap Assets Current
AssetsCurrent
26864 usd
CY2017Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6949 usd
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6686 usd
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11750 usd
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14738 usd
CY2017Q1 us-gaap Assets
Assets
31671 usd
CY2016Q4 us-gaap Assets
Assets
41602 usd
CY2017Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
201283 usd
CY2016Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
167854 usd
CY2017Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2264918 usd
CY2016Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2088082 usd
CY2017Q1 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
135221 usd
CY2016Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
120577 usd
CY2017Q1 QBAN Convertible Debentures Related Parties
ConvertibleDebenturesRelatedParties
15000 usd
CY2016Q4 QBAN Convertible Debentures Related Parties
ConvertibleDebenturesRelatedParties
15000 usd
CY2017Q1 us-gaap Notes Payable Current
NotesPayableCurrent
2156626 usd
CY2016Q4 us-gaap Notes Payable Current
NotesPayableCurrent
2236446 usd
CY2017Q1 QBAN Convertible Debenture
ConvertibleDebenture
540344 usd
CY2016Q4 QBAN Convertible Debenture
ConvertibleDebenture
621843 usd
CY2017Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
177390 usd
CY2016Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
132098 usd
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
5490782 usd
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
5381900 usd
CY2017Q1 us-gaap Liabilities
Liabilities
5490782 usd
CY2016Q4 us-gaap Liabilities
Liabilities
5381900 usd
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
975000000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
975000000 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
235141501 shares
CY2017Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
235141501 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
214631331 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
214631331 shares
CY2017Q1 us-gaap Common Stock Value
CommonStockValue
235141 usd
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
214631 usd
CY2017Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
583760 usd
CY2016Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
558926 usd
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6278350 usd
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6114193 usd
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
-5459111 usd
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-5340298 usd
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
31671 usd
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
41602 usd
CY2017Q1 us-gaap Revenues
Revenues
31679 usd
CY2016Q1 us-gaap Revenues
Revenues
38149 usd
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
97972 usd
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
177645 usd
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-66293 usd
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-139496 usd
CY2017Q1 us-gaap Interest Expense
InterestExpense
52975 usd
CY2016Q1 us-gaap Interest Expense
InterestExpense
301758 usd
CY2017Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-44889 usd
CY2016Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
721873 usd
CY2016Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
214036 usd
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-97864 usd
CY2016Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
634151 usd
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-164157 usd
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
494655 usd
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.0007
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.0039
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.0007
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.0005
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
223366678 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125412657 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1200845875 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
954725174 shares
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-6167953 usd
CY2016Q1 QBAN Note Payable Conversion
NotePayableConversion
7353 usd
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
494655 usd
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
-5665945 usd
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-5340298 usd
CY2017Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
10344 usd
CY2017Q1 QBAN Note Payable Conversion
NotePayableConversion
35000 usd
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-164157 usd
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
-5459111 usd
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-164157 usd
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
494655 usd
CY2017Q1 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
44889 usd
CY2016Q1 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-721873 usd
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
10344 usd
CY2017Q1 QBAN Depreciations
Depreciations
2989 usd
CY2017Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5109 usd
CY2016Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
953 usd
CY2016Q1 us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
-3453 usd
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
210667 usd
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
144603 usd
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
99623 usd
CY2016Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-80115 usd
CY2016Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
287267 usd
CY2017Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
111675 usd
CY2016Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
149150 usd
CY2016Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
62137 usd
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-111675 usd
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
75980 usd
CY2017Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-12052 usd
CY2016Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-4135 usd
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21414 usd
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11727 usd
CY2017Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9362 usd
CY2016Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7592 usd
CY2016Q1 QBAN Preferred B Stock Conversion To Common Shares
PreferredBStockConversionToCommonShares
1200 usd
CY2017Q1 us-gaap Stock Issued1
StockIssued1
2000 usd
CY2016Q1 us-gaap Stock Issued1
StockIssued1
7353 usd
CY2017Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80A_eus-gaap--NatureOfOperations_z1WPPwKzT4p6" style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.   <span id="xdx_82A_zk17noHYgSW7">Nature of Operations and Going Concern</span></b></span></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telco Cuba, Inc. (fka CaerVision Global, Inc., fka American Mineral Group Minerals Inc.) (the "Company") was incorporated in the State of Nevada on August 10, 2007. Up until June 12, 2015, the company was previously engaged in the exploration, development, and acquisition of mineral properties.</span></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 12, 2015, the Company consummated a Share Exchange with Amgentech, Inc., a Florida corporation.  <span id="xdx_907_ecustom--SharesExchangeDescription_c20161201__20170228" title="Shares Exchange description">Under the terms of the Share Exchange, the holders of Amgentech received 50,088 shares of Series B Preferred Stock that had been previously issued to third parties in exchange for 100% of the issued and outstanding capital of Amgentech. Each share of Series B preferred is convertible into 5,000 shares of common stock (254,440,000 shares total) and has voting rights of 5,000 per share (254,440,000 votes).</span> As a result of this transaction, Amgentech became a wholly owned subsidiary of the Company with control transferring to the previous owners of Amgentech.  Amgentech elected to be treated as the successor issuer for SEC reporting and accounting purposes.  The Share Exchange was accounted for as a reverse acquisition and re-capitalization. The Amgentech Shareholders obtained approximately 60% of voting control on the date of Share Exchange. Amgentech was the acquirer for financial reporting purposes and the Company was the acquired company. <span style="line-height: 107%">  </span>The Company filed an amendment to its articles of incorporation and changed its name to Telco Cuba, Inc. Telco Cuba is foremost a technology solutions service provider offering services under the brand names “Amgentech” and “Telco Cuba”.</span></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going Concern</b></span></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared on the basis of accounting principles applicable to a going concern; accordingly, they do not give effect to adjustments that would be necessary should the Company be unable to continue as a going concern and therefore be required to realize its assets and retire its liabilities in other than the normal course of business and at amounts different from those in the accompanying financial statements. As shown in the accompanying financial statements, the Company has an accumulated deficit of $<span id="xdx_90E_eus-gaap--RetainedEarningsAppropriated_iI_pdn3_dm_c20170228_z4K2jEeqMJL4" title="Accumulated deficit">4.962</span> million. <span style="background-color: white">The Company currently does not have the cash resources to meet its operating commitments for the next twelve months and expects to have ongoing requirements for capital investment or debt to implement its business plan. These factors, among others, raise substantial doubt that the Company will be able to continue as a going concern for a reasonable period of time.</span> Management plans to raise cash from public or private debt or equity financing, on an as needed basis. The Company's ability to continue as a going concern is in substantial doubt unless it can achieve profitable operations and/or upon obtaining additional financing. The outcome of these matters cannot be predicted at this time.</span></p>
CY2017Q1 QBAN Shares Exchange Description
SharesExchangeDescription
Under the terms of the Share Exchange, the holders of Amgentech received 50,088 shares of Series B Preferred Stock that had been previously issued to third parties in exchange for 100% of the issued and outstanding capital of Amgentech. Each share of Series B preferred is convertible into 5,000 shares of common stock (254,440,000 shares total) and has voting rights of 5,000 per share (254,440,000 votes).
CY2017Q1 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
4962000 usd
CY2017Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2016Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2016Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
132098 usd
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
223366678 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125412657 shares
CY2017Q1 QBAN Convertible Debentures
ConvertibleDebentures
499204197 shares
CY2016Q1 QBAN Convertible Debentures
ConvertibleDebentures
473782517 shares
CY2017Q1 QBAN Convertible Preferred Stock
ConvertiblePreferredStock
478275000 shares
CY2016Q1 QBAN Convertible Preferred Stock
ConvertiblePreferredStock
355530000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1200845875 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
954725174 shares
CY2017Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
177390 usd
CY2017Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_zZJZDvg5zlAe" style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>g)   <span id="xdx_863_z5K2uXoxtXTd">Estimates</span></b></span></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The preparation of financial statements in conformity with US generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those reported.</span></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"/></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b/></span></p>
CY2017Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zJlOG4ACoFU2" style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>h) <span id="xdx_868_z8yc5EqXMBTl">Accounts receivable and concentration of credit risk</span></b></span></p> <p style="font: 11pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company provides credit to its clients in the form of payment terms. The Company limits its credit risk by performing credit evaluations of its clients and maintaining a reserve, if deemed necessary, for potential credit losses. Such evaluations include the review of a customer’s outstanding balances with consideration towards such customer’s historical collection experience, as well as prevailing economic and market conditions and other factors. </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company currently has no accounts receivable in 2016 and, therefore, does not currently have a concentrated credit risk associated with trade receivables.</span></p>
CY2016Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2015Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
975000000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
975000000 shares
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
400000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
400000 shares
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
10000000 shares
CY2016Q4 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
35000 usd
CY2016Q4 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.0035
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
400000 shares
CY2017Q1 QBAN Preferred Stock Designated
PreferredStockDesignated
300000 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2017Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2016Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2017Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-57400 usd
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
173100 usd
CY2017Q1 QBAN Utilization Increase In Tax Loss Carryforward
UtilizationIncreaseInTaxLossCarryforward
-57400 usd
CY2016 QBAN Utilization Increase In Tax Loss Carryforward
UtilizationIncreaseInTaxLossCarryforward
173100 usd
CY2017Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
6500000 usd
CY2017Q1 us-gaap Convertible Debt
ConvertibleDebt
540344 usd
CY2016Q4 us-gaap Convertible Debt
ConvertibleDebt
621843 usd
CY2017Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
499204917 shares
CY2016Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
473782517 shares
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
3.5294 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
3.5294 pure
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.04 pure
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.04 pure
CY2017Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y3M
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P0Y3M
CY2017Q1 us-gaap Share Price
SharePrice
0.004
CY2016Q4 us-gaap Share Price
SharePrice
0.004
CY2017Q1 us-gaap Notes Payable
NotesPayable
2156626 usd
CY2016Q1 us-gaap Notes Payable
NotesPayable
2236446 usd
CY2017Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
46110 usd
CY2016Q1 us-gaap Interest Expense Other Long Term Debt
InterestExpenseOtherLongTermDebt
47740 usd
CY2017Q1 us-gaap Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
135221 usd
CY2016Q4 us-gaap Due To Other Related Parties Classified Current
DueToOtherRelatedPartiesClassifiedCurrent
135577 usd
CY2017Q1 us-gaap Related Party Transaction Rate
RelatedPartyTransactionRate
0.12 pure

Files In Submission

Name View Source Status
0001099910-23-000020-index-headers.html Edgar Link pending
0001099910-23-000020-index.html Edgar Link pending
0001099910-23-000020.txt Edgar Link pending
0001099910-23-000020-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
qban-20170228.xsd Edgar Link pending
qban10q.htm Edgar Link pending
R1.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
qban-20170228_cal.xml Edgar Link unprocessable
qban-20170228_def.xml Edgar Link unprocessable
qban-20170228_lab.xml Edgar Link unprocessable
qban-20170228_pre.xml Edgar Link unprocessable
qban10q_htm.xml Edgar Link completed
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.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