SEC Info - Sunstock, Inc. - ‘10-Q’ for 9/30/19

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Sunstock, Inc. – ‘10-Q’ for 9/30/19 – ‘R15’

On: Friday, 11/1/19, at 1:12pm ET · For: 9/30/19 · Accession #: 1493152-19-16310 · File #: 0-54830

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/01/19  Sunstock, Inc.                    10-Q        9/30/19   52:2.8M                                   M2 Compliance/FA

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    301K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     23K 
 3: EX-32.1     Certification -- §906 - SOA'02                      HTML     18K 
32: R1          Document and Entity Information                     HTML     47K 
16: R2          Condensed and Consolidated Balance Sheets           HTML     90K 
21: R3          Condensed and Consolidated Balance Sheets           HTML     36K 
                (Parenthetical)                                                  
47: R4          Condensed and Consolidated Statements of            HTML     71K 
                Operations (Unaudited)                                           
31: R5          Condensed and Consolidated Statements of Changes    HTML     65K 
                in Stockholders' Deficit (Unaudited)                             
15: R6          Condensed and Consolidated Statements of Cash       HTML    100K 
                Flows (Unaudited)                                                
20: R7          Nature of Operations and Summary of Significant     HTML     49K 
                Accounting Policies                                              
48: R8          Going Concern                                       HTML     21K 
30: R9          Recent Accounting Pronouncements                    HTML     36K 
24: R10         Property and Equipment                              HTML     22K 
11: R11         Accounts Payable and Accrued Expenses               HTML     22K 
39: R12         Related Party Balances                              HTML     21K 
45: R13         Commitments and Contingencies                       HTML     37K 
25: R14         Outstanding Debt                                    HTML     55K 
12: R15         Derivative Liabilities                              HTML     26K 
41: R16         Stockholder's Deficit                               HTML     22K 
46: R17         Subsequent Events                                   HTML     20K 
26: R18         Nature of Operations and Summary of Significant     HTML     76K 
                Accounting Policies (Policies)                                   
10: R19         Recent Accounting Pronouncements (Tables)           HTML     26K 
34: R20         Property and Equipment (Tables)                     HTML     22K 
50: R21         Accounts Payable and Accrued Expenses (Tables)      HTML     22K 
22: R22         Commitments and Contingencies (Tables)              HTML     23K 
18: R23         Outstanding Debt (Tables)                           HTML     36K 
35: R24         Derivative Liabilities (Tables)                     HTML     26K 
51: R25         Nature of Operations and Summary of Significant     HTML     74K 
                Accounting Policies (Details Narrative)                          
23: R26         Going Concern (Details Narrative)                   HTML     20K 
19: R27         Recent Accounting Pronouncements - Schedule of      HTML     32K 
                Condensed Consolidated Balance Sheet upon Adoption               
                (Details)                                                        
33: R28         Property and Equipment (Details Narrative)          HTML     19K 
52: R29         Property and Equipment - Schedule of Property and   HTML     27K 
                Equipment (Details)                                              
44: R30         Accounts Payable and Accrued Expenses - Schedule    HTML     33K 
                of Accounts Payable and Accrued Expenses (Details)               
37: R31         Related Party Balances (Details Narrative)          HTML     61K 
14: R32         Commitments and Contingencies (Details Narrative)   HTML     74K 
28: R33         Commitments and Contingencies - Schedule of         HTML     44K 
                Maturities of Operating Lease Payments (Details)                 
43: R34         Outstanding Debt (Details Narrative)                HTML    137K 
36: R35         Outstanding Debt - Schedule of Convertible Notes    HTML     69K 
                Payable (Details)                                                
13: R36         Outstanding Debt - Schedule of Convertible Notes    HTML     18K 
                Payable (Details) (Parenthetical)                                
27: R37         Derivative Liabilities - Schedule of Fair Value     HTML     25K 
                Assumption (Details)                                             
42: R38         Derivative Liabilities - Schedule of Fair Value of  HTML     22K 
                Embedded Conversion Features on Recurring Basis                  
                (Details)                                                        
38: R39         Stockholder's Deficit (Details Narrative)           HTML     58K 
49: R40         Subsequent Events (Details Narrative)               HTML     40K 
29: XML         IDEA XML File -- Filing Summary                      XML     92K 
17: EXCEL       IDEA Workbook of Financial Reports                  XLSX     60K 
 4: EX-101.INS  XBRL Instance -- ssok-20190930                       XML    786K 
 6: EX-101.CAL  XBRL Calculations -- ssok-20190930_cal               XML    129K 
 7: EX-101.DEF  XBRL Definitions -- ssok-20190930_def                XML    328K 
 8: EX-101.LAB  XBRL Labels -- ssok-20190930_lab                     XML    656K 
 9: EX-101.PRE  XBRL Presentations -- ssok-20190930_pre              XML    493K 
 5: EX-101.SCH  XBRL Schema -- ssok-20190930                         XSD    121K 
40: ZIP         XBRL Zipped Folder -- 0001493152-19-016310-xbrl      Zip     89K

‘R15’ — Derivative Liabilities

This is an IDEA Financial Report. [ Alternative Formats ]

Derivative Liabilities

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Liabilities

NOTE 9 – DERIVATIVE LIABILITIES

The Company evaluates its debt instruments, or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for under the relevant sections of ASC Topic 815-40, Derivative Instruments and Hedging: Contracts in Entity’s Own Equity. The result of this accounting treatment could be that the fair value of a financial instrument is classified as a derivative instrument and is marked-to-market at each balance sheet date and recorded as a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the statement of operations as other income or other expense. Upon conversion or exercise of a derivative instrument, the instrument is marked to fair value at the conversion date and then that fair value is reclassified to equity. Financial instruments that are initially classified as equity that become subject to reclassification under ASC Topic 815-40 are reclassified to a liability account at the fair value of the instrument on the reclassification date.

The Company applies the accounting standard that provides guidance for determining whether an equity-linked financial instrument, or embedded feature, is indexed to an entity’s own stock. The standard applies to any freestanding financial instrument or embedded features that have the characteristics of a derivative, and to any freestanding financial instruments that are potentially settled in an entity’s own common stock.

From time to time, the Company has issued notes with embedded conversion features. Certain of the embedded conversion features contain price protection or anti-dilution features that result in these instruments being treated as derivatives for accounting purposes. Accordingly, the Company has classified all conversion features as derivative liabilities as of September 30, 2019, and has estimated the fair value of these embedded conversion features using a binomial options pricing model with the following assumptions:

	For the Nine Months ended September 30, 2019

Annual Dividend yield		0	%
Expected life (years)		0.75
Risk-free interest rate		1.79	%
Expected volatility		187	%

The following table presents the changes in fair value of our embedded conversion features measured at fair value on a recurring basis for the nine months ended September 30, 2019:

Balance December 31, 2018	$	2,356,887
Change in fair value		6,366,915
Balance as of September 30, 2019	$	8,723,802

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-Q’ Filing	Date	Other Filings

Filed on:	11/1/19
For Period end:	9/30/19
	12/31/18	10-K, 10-K/A, NT 10-K
		List all Filings

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Filing Submission 0001493152-19-016310 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)