SideChannel, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>SideChannel, Inc. filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing its financial activities and corporate history.</b>

AI Summary

SideChannel, Inc. (SDCH) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. SideChannel, Inc. filed a 10-Q report for the quarterly period ended December 31, 2023. The filing covers the period from October 1, 2023, to December 31, 2023. The company was formerly known as CIPHERLOC Corp and NATIONAL SCIENTIFIC CORP/AZ. SideChannel, Inc. is incorporated in Delaware and its fiscal year ends on September 30. The business address is 146 Main Street, Suite 405, Worcester, MA 01608.

Why It Matters

For investors and stakeholders tracking SideChannel, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for SideChannel, Inc. for the specified quarter. Understanding the company's historical name changes and incorporation details is crucial for tracking its corporate evolution and potential investor relations.

Risk Assessment

Risk Level: low — SideChannel, Inc. shows low risk based on this filing. The filing is a standard 10-Q report, which is routine for publicly traded companies and does not indicate any unusual financial distress or significant positive developments.

Analyst Insight

Review the full 10-Q filing to understand SideChannel, Inc.'s financial performance, operational risks, and strategic initiatives during the quarter ending December 31, 2023.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-07 — Filing Date (Filed as of date)
• 0930 — Fiscal Year End (Fiscal year end)
• 1934 Act — SEC Act (SEC Act)
• 000-28745 — SEC File Number (SEC file number)

Key Players & Entities

• SideChannel, Inc. (company) — Filer name
• CIPHERLOC Corp (company) — Former company name
• NATIONAL SCIENTIFIC CORP/AZ (company) — Former company name
• DE (location) — State of incorporation
• Worcester (location) — City of business address
• MA (location) — State of business address
• 512-649-7700 (phone_number) — Business phone number
• 20231231 (date) — Conformed period of report

Forward-Looking Statements

• SideChannel will continue to operate with an accumulated deficit in the near term. (SideChannel, Inc.) — high confidence, target: 2024-09-30

FAQ

Key Dates

• 2023-12-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-02-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance and condition for a specific quarter.)

Fiscal Year End

The last day of a company's fiscal year. (Helps in understanding the timing of annual financial reporting and tax obligations.)

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share SDCH N/A Indicate by ch

Filing Documents

• form10-q.htm (10-Q) — 568KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-005198.txt (&nbsp;) — 2802KB
• sdch-20231231.xsd (EX-101.SCH) — 25KB
• sdch-20231231_cal.xml (EX-101.CAL) — 30KB
• sdch-20231231_def.xml (EX-101.DEF) — 67KB
• sdch-20231231_lab.xml (EX-101.LAB) — 214KB
• sdch-20231231_pre.xml (EX-101.PRE) — 151KB
• form10-q_htm.xml (XML) — 288KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Consolidated Balance Sheets as of December 31, 2023 (Unaudited), and September 30, 2023 3 Unaudited Consolidated Statements of Operations for the three months ended December 31, 2023 and 2022 4 Unaudited Consolidated Statement of Stockholders' Equity for the three months ended December 31, 2023 and 2022 5 Unaudited Consolidated Statements of Cash Flows for the three months ended December 31, 2023 and 2022 6

Notes to Financial Statements

Notes to Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5 Other Information 20 Item 6. Exhibits 20 2 Table of Contents PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS SIDECHANNEL, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) December 31, 2023 September 30, 2023 (Unaudited) ASSETS Current assets Cash $ 819 $ 1,053 Accounts receivable, net 868 834 Deferred costs 180 180 Prepaid expenses and other current assets 278 381 Total current assets 2,145 2,448 Fixed assets 27 30 Goodwill 1,356 1,356 Deferred costs 105 150 Total assets $ 3,633 $ 3,984 LIABILITIES & STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $ 511 $ 613 Deferred revenue 238 280 Promissory note payable - 50 Income taxes payable 11 11 Total current liabilities 760 954 Other Liabilities - - Total liabilities 760 954 Commitments and contingencies - - 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 222 214 Additional paid-in capital 21,836 21,755 Accumulated Deficit ( 19,185 ) ( 18,939 ) Total stockholders' equity 2,873 3,030 Total liabilities and stockholders' equity $ 3,633 $ 3,984 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 Table of Contents SIDECHANNEL, INC. CONSOLIDATED STATEMENT OF OPERATIONS (In thousands, except share and per share data) (Unaudited) Three Months Ended December 31, 2023 2022 Revenues $ 1,736 $ 1,546 Cost of revenues 891 681 Gross profit 845 865 Operating expenses General and administrative 709 1,030 Selling and marketing 269 307 Research and development 1

View Full Filing

View this 10-Q filing on SEC EDGAR