SUMMIT NETWORKS INC. financial statements (2021 and earlier)

Company profile

Business Address 3A, KINGSWELL COMMERCIAL TOWER
WANCHAI, 00000
State of Incorp. NV
Fiscal Year End July 31
SIC 3231 - Glass Products, Made of Purchased Glass (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

10/31/2020
TTM
7/31/2020
7/31/2019
7/31/2018
7/31/2017
7/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 305118 1
Cash and cash equivalents 305118 1
Receivables 466    
Prepaid expense 5    
Other undisclosed current assets (466) 5  
Total current assets: 310122 1
Noncurrent Assets
Property, plant and equipment   111314
Other undisclosed noncurrent assets     2
Total noncurrent assets:   111317
Other undisclosed assets   11 
TOTAL ASSETS: 3101341418
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 103415 1
Accrued liabilities   15 1
Other undisclosed accounts payable and accrued liabilities 1034   
Due to related parties 5195321110
Total current liabilities: 5288736111
Noncurrent Liabilities
Other undisclosed noncurrent liabilities (310)    
Total noncurrent liabilities: (310)    
Other undisclosed liabilities   60  
Total liabilities: 2188796111
Stockholders' equity
Stockholders' equity attributable to parent (218)(86)(63)317
Common stock 6461655
Additional paid in capital 362365673939
Accumulated deficit (644)(512)(136)(41)(27)
Other undisclosed stockholders' equity 310 1  
Total stockholders' equity: 92(86)(62)317
TOTAL LIABILITIES AND EQUITY: 3101341418

Income statement (P&L) ($ in thousands)

10/31/2020
TTM
7/31/2020
7/31/2019
7/31/2018
7/31/2017
7/31/2016
Revenues  349 2847
Revenue, net2847
Revenue from related parties  349 
Cost of revenue
(Cost of Goods and Services Sold)
    (21)(30)
Gross profit:  349 716
Operating expenses (132)(382)(95)(21)(26)
Other undisclosed operating loss  (338) (0) 
Operating loss: (132)(371)(95)(14)(9)
Nonoperating expense
(Investment Income, Nonoperating)
  (5)   
Net loss available to common stockholders, diluted: (132)(376)(95)(14)(9)

Comprehensive Income ($ in thousands)

10/31/2020
TTM
7/31/2020
7/31/2019
7/31/2018
7/31/2017
7/31/2016
Net loss: (132)(376)(95)(14)(9)
Comprehensive loss, net of tax, attributable to parent: (132)(376)(95)(14)(9)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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