Cover
Cover - shares | 3 Months Ended | |
Dec. 31, 2021 | Feb. 08, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Current Fiscal Year End Date | --09-30 | |
Entity File Number | 000-55613 | |
Entity Registrant Name | VoIP-PAL.COM INC. | |
Entity Central Index Key | 0001410738 | |
Entity Tax Identification Number | 98-0184110 | |
Entity Incorporation, State or Country Code | NV | |
Entity Address, Address Line One | 7215 Bosque Boulevard | |
Entity Address, Address Line Two | Suite 102 | |
Entity Address, City or Town | Waco | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 76710-4020 | |
City Area Code | 954 | |
Local Phone Number | 495-4600 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,776,147,863 |
Interim Consolidated Balance Sh
Interim Consolidated Balance Sheets (Unaudited) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
CURRENT | ||
Cash | $ 46,175 | $ 176,503 |
Retainer (Note 5) | 11,292 | 14,418 |
TOTAL CURRENT ASSETS | 57,467 | 190,921 |
NON-CURRENT | ||
Fixed assets (Note 6) | 6,084 | 6,648 |
Intellectual VoIP communications patent properties, net (Note 7) | 468,400 | 502,950 |
TOTAL ASSETS | 531,951 | 700,519 |
CURRENT | ||
Accounts payable and accrued liabilities | 175,571 | 181,599 |
TOTAL LIABILITIES | 175,571 | 181,599 |
STOCKHOLDERS’ equity | ||
SHARE CAPITAL (Note 10) | 1,235,715 | 1,207,915 |
ADDITIONAL PAID-IN CAPITAL (Note 10) | 65,745,048 | 65,633,848 |
SHARES TO BE ISSUED (Note 10) | 61,320 | 61,320 |
DEFICIT | (66,685,703) | (66,384,163) |
TOTAL STOCKHOLDERS' EQUITY | 356,380 | 518,920 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 531,951 | $ 700,519 |
Interim Consolidated Statements
Interim Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
EXPENSES | ||
Amortization (Note 6 & 7) | $ 35,114 | $ 35,115 |
Officers and Directors fees (Note 8) | 16,500 | 57,600 |
Legal fees | 170,238 | 149,684 |
Office & general | 29,679 | 40,975 |
Patent consulting fees | 4,309 | 6,083 |
Professional fees & services | 45,700 | 150,500 |
Total expenses | 301,540 | 439,957 |
Gain on settlement of accrued payables (Note 8) | (90,000) | |
LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD | $ (301,540) | $ (349,957) |
Basic and diluted loss per common share | $ 0 | $ 0 |
Weighted-average number of common shares outstanding: | ||
Basic and diluted | 1,881,515,343 | 2,046,303,516 |
Interim Consolidated Statemen_2
Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2021 | |
Cash Flows from Operating Activities | ||||
Loss | $ (301,540) | $ (349,957) | $ (1,808,376) | |
Add items not affecting cash: | ||||
Shares issued for services | 101,000 | |||
Amortization | 35,114 | 35,115 | ||
Gain on settlement of accrued payables | 90,000 | |||
Changes in non-cash working capital: | ||||
Retainer | 3,126 | 16,475 | ||
Accounts payable and accrued liabilities | (6,028) | 68,196 | ||
Prepaid expense | (8,750) | |||
Cash Flows Used in Operations | (269,328) | (210,421) | ||
Cash Flows from Financing Activities | ||||
Proceeds from private placement | 139,000 | 125,015 | ||
Cash Flows Provided by Financing Activities | 139,000 | 125,015 | ||
Decrease in cash | (130,328) | (85,406) | ||
Cash, beginning of the period | 176,503 | 113,538 | 28,132 | $ 113,538 |
Cash, end of the period | $ 46,175 | $ 28,132 | $ 176,503 | $ 176,503 |
Interim Consolidated Statemen_3
Interim Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Shares to be issued value [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Sep. 30, 2020 | $ 1,510,448 | $ 477,320 | $ 52,434,457 | $ (54,065,553) | $ 356,672 |
Balance, shares at Sep. 30, 2020 | 2,033,981,592 | ||||
Shares issued for private placement | $ 14,502 | 110,513 | 125,015 | ||
Shares issued for private placement, shares | 14,501,500 | ||||
Shares issued for services | $ 5,000 | 96,000 | 101,000 | ||
Shares issued for services, shares | 5,000,000 | ||||
Shares forgiven on termination of service | (416,000) | 416,000 | |||
Loss for the period | (349,957) | (349,957) | |||
Ending balance, value at Dec. 31, 2020 | $ 1,529,950 | 61,320 | 52,640,970 | (53,999,510) | 232,730 |
Balance, shares at Dec. 31, 2020 | 2,053,483,092 | ||||
Beginning balance, value at Sep. 30, 2020 | $ 1,510,448 | 477,320 | 52,434,457 | (54,065,553) | 356,672 |
Balance, shares at Sep. 30, 2020 | 2,033,981,592 | ||||
Share based compensation | 1,003,166 | ||||
Ending balance, value at Sep. 30, 2021 | $ 1,207,915 | 61,320 | 65,633,848 | (66,384,163) | 518,920 |
Balance, shares at Sep. 30, 2021 | 1,731,447,863 | ||||
Beginning balance, value at Dec. 31, 2020 | $ 1,529,950 | 61,320 | 52,640,970 | (53,999,510) | 232,730 |
Balance, shares at Dec. 31, 2020 | 2,053,483,092 | ||||
Shares issued for private placement | $ 178,700 | 714,800 | 893,500 | ||
Shares issued for private placement, shares | 178,700,000 | ||||
Shares issued for services | $ 12,800 | $ 185,100 | $ 197,900 | ||
Shares issued for services, shares | 12,800,000 | ||||
Shares returned to treasury on amendment of Anti-Dilution Clause | (513,535) | 11,089,812 | (10,576,277) | ||
Shares returned to treasury on amendment of Anti-Dilution Clause, shares | (513,535,229) | ||||
Loss for the period | $ (1,808,376) | $ (1,808,376) | |||
Share based compensation | 1,003,166 | 1,003,166 | |||
Ending balance, value at Sep. 30, 2021 | $ 1,207,915 | 61,320 | 65,633,848 | (66,384,163) | 518,920 |
Balance, shares at Sep. 30, 2021 | 1,731,447,863 | ||||
Shares issued for private placement | $ 27,800 | 111,200 | 139,000 | ||
Shares issued for private placement, shares | 27,800,000 | ||||
Loss for the period | (301,540) | (301,540) | |||
Ending balance, value at Dec. 31, 2021 | $ 1,235,715 | $ 61,320 | $ 65,745,048 | $ (66,685,703) | $ 356,380 |
Balance, shares at Dec. 31, 2021 | 1,759,247,863 |
NATURE AND CONTINUANCE OF OPERA
NATURE AND CONTINUANCE OF OPERATIONS | 3 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NATURE AND CONTINUANCE OF OPERATIONS | NOTE 1. NATURE AND CONTINUANCE OF OPERATIONS VOIP-PAL.com, Inc. (the “Company”) was incorporated in the state of Nevada in September 1997 as All American Casting International, Inc. The Company’s registered office is located at 10900 NE 4 th Since March 2004, the Company has developed technology and patents related to Voice-over-Internet Protocol (VoIP) processes. All business activities prior to March 2004 have been abandoned and written off to deficit. The Company operates in one reportable segment being the acquisition and development of VoIP-related intellectual property including patents and technology. All intangible assets are located in the United States of America In December 2013, the Company completed the acquisition of Digifonica (International) Limited, a private company controlled by the CEO of the Company, whose assets included several patents and technology developed for the VoIP market. These consolidated financial statements have been prepared on the basis of a going concern, which contemplates the realization of assets and discharge of liabilities in the normal course of business. The Company is in various stages of product development and continues to incur losses and, at December 31, 2021, had an accumulated deficit of $ 66,685,703 66,384,163 Additionally, as the Company’s stated objective is to monetize its patent suite through the licensing or sale of its intellectual property (“IP”), the Company being forced to litigate or to defend its IP claims through litigation casts substantial doubt on its future to continue as a going concern. IP litigation is generally a costly process, and in the absence of revenue the Company must raise capital to continue its own defense and to validate its claims – in the event of a failure to defend its patent claims, either because of lack of funding, a court ruling against the Company or because of a protracted litigation process, there can be no assurance that the Company will be able to raise additional capital to pay for an appeals process or a lengthy trial. The outcome of any litigation process may have a significant adverse effect on the Company’s ability to continue as a going concern. COVID-19 In March 2020, the World Health Organization declared a global pandemic related to the COVID-19 coronavirus. Its impact on global economies has been far-reaching and businesses around the world are being forced to cease or limit operations for long or indefinite periods of time. Measures taken to contain the spread of the COVID-19 virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Global stock markets have also experienced great volatility and significant declines. Governments and central banks have responded with monetary and fiscal interventions to stabilize economic conditions. The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of the COVID-19 pandemic, nor its impact on the financial position and results of the Company in future periods. The Company is proceeding with its business activities as long as the work environment remains safe – at this point there has been minimal disruption to day-to-day operations resulting from health and safety measures. Disruptions and volatility in the global capital markets may increase the Company’s cost of capital and adversely impact access to capital. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | NOTE 2. BASIS OF PRESENTATION The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | NOTE 3. SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation These consolidated financial statements have been prepared on a consolidated basis and include the accounts of the Company and its wholly owned subsidiary Digifonica. All intercompany transactions and balances have been eliminated. As at December 31, 2021, Digifonica had no activities. Use of Estimates The preparation of these consolidated financial statements required management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from these estimates. Where estimates have been used, financial results as determined by actual events could differ from those estimates. Cash Cash consists of cash on hand, cash held in trust, and monies held in checking and savings accounts. The Company had $ 46,175 176,503 Fixed Assets Fixed assets are stated at cost less accumulated depreciation, and depreciated using the straight-line method over their useful lives; Furniture and computers – 5 Intangible Assets Intangible assets, consisting of VoIP communication patent intellectual properties (IP) are recorded at cost and amortized over the assets estimated life on a straight-line basis. Management considers factors such as remaining life of the patents, technological usefulness and other factors in estimating the life of the assets. The carrying value of intangible assets are reviewed for impairment by management of the Company at least annually or upon the occurrence of an event which may indicate that the carrying amount may be less than its fair value. If impaired, the Company will write-down such impairment. In addition, the useful life of the intangible assets will be evaluated by management at least annually or upon the occurrence of an event which may indicate that the useful life may have changed. Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurement, defines fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (CONT’D) U.S. GAAP establishes a framework for measuring fair value under generally accepted accounting principles and enhances disclosures about fair value measurements. Fair value is defined as the amount that would be received for an asset or paid to transfer a liability (i.e., an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: Level 1: Quoted prices in active markets for identical assets and liabilities. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of cash is classified as Level 1 at December 31, 2021 and September 30, 2021. The Company classifies its financial instruments as follows: Cash is classified as held for trading and is measured at fair value. Accounts payable and accrued liabilities are classified as other financial liabilities, and have a fair value approximating their carrying value, due to their short-term nature. Income Taxes Deferred income taxes have been provided for temporary differences between financial statement and income tax reporting under the asset and liability method, using expected tax rates and laws that are expected to be in effect when the differences are expected to reverse. A valuation allowance is provided when realization is not considered more likely than not. The Company’s policy is to classify income tax assessments, if any, for interest expense and for penalties in general and administrative expenses. The Company’s income tax returns are subject to examination by the IRS and corresponding states, generally for three years after they are filed. Loss per Common Share Basic loss per share is calculated using the weighted-average number of common shares outstanding during each period. Diluted income per share includes potentially dilutive securities such as outstanding options and warrants outstanding during each period. To calculate diluted loss per share the Company uses the treasury stock method and the If-converted method. For the period ended December 31, 2021 and the year ended September 30, 2021 there were no Derivatives We account for derivatives pursuant to ASC 815, Accounting for Derivative Instruments and Hedging Activities Stock-based compensation The Company recognizes compensation expense for all stock-based payments made to employees, directors and others based on the estimated fair values of its common stock on the date of issuance. The Company determines the fair value of the share-based compensation payments granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either the date at which a commitment for performance to earn the equity instrument is reached or the date the performance is complete. The Company recognizes compensation expense for stock awards with service conditions on a straight-line basis over the requisite service period, which is included in operations. Stock option expense is recognized over the option’s vesting period. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (CONT’D) Concentrations of Credit Risk The Company’s policy is to maintain cash with reputable financial institutions or in retainers with trusted vendors. The Company has at times had cash balances at financial institutions in excess of the Federal Deposit Insurance Corporation (FDIC) Insurance Limit of $ 250,000 Recent Accounting Pronouncements and Adoption ASU 2020-10 – Codification Improvements In October 2020, the FASB issued ASU 2020-10, Codification Improvements. The guidance contains improvements to the Codification by ensuring that all guidance that requires or provides an option for an entity to provide information in the notes to financial statements is codified in the Disclosure Section of the Codification. The guidance also contains Codifications that are varied in nature and may affect the application of the guidance in cases in which the original guidance may have been unclear. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 15, 2020. For all other entities, the amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. Early adoption is permitted. We do not expect the adoption of ASU 2020-10 to have a material impact on our condensed consolidated financial statements. ASU 2021-04 – Earnings per share In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This amendment is effective for all entities, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company will evaluate the impact of the pronouncement closer to the effective date. |
PURCHASE OF DIGIFONICA
PURCHASE OF DIGIFONICA | 3 Months Ended |
Dec. 31, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
PURCHASE OF DIGIFONICA | NOTE 4. PURCHASE OF DIGIFONICA The Company acquired Digifonica in December 2013. Pursuant to the terms in the Share Purchase Agreement (the “SPA”) the Company acquired 100 800,000 389,023,561 The SPA included an anti-dilution clause (the “Anti-Dilution Clause”) that required the Company to maintain the Seller’s percentage ownership of the Company at 40 During the year ended September 30, 2021, on April 12, 2021, the SPA was amended to provide that: a) from its inception until March 31, 2021, the Company would issue warrants to purchase common shares of the Company in an equivalent amount to and instead of the required shares being issued pursuant to the Anti-Dilution Clause; and b) the Anti-Dilution Clause would be null and void from April 1, 2021 forward. As a result of this amendment, the Seller returned 513,535,229 107,935,333 621,470,562 0.021 ten years |
RETAINER
RETAINER | 3 Months Ended |
Dec. 31, 2021 | |
Retainer | |
RETAINER | NOTE 5. RETAINER The Company has retainers with certain of its professional service providers. The balance due on these prepaid retainers was $ 11,292 14,418 VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 |
FIXED ASSETS
FIXED ASSETS | 3 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
FIXED ASSETS | NOTE 6. FIXED ASSETS A summary of the Company’s fixed assets as of December 31, 2021 and September 30, 2021 is as follows: SCHEDULE OF FIXED ASSETS December 31, 2021 September 30, Office furniture & computers $ 11,917 $ 11,917 Accumulated depreciation (5,833 ) (5,269 ) Net book value $ 6,084 $ 6,648 There were no retirements of any fixed assets in the periods presented. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 3 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS | NOTE 7. INTANGIBLE ASSETS The Company acquired certain patents and technology from Digifonica in December 2013 (see Note 4). These assets have been recorded in the financial statements as intangible assets. These assets are being amortized over twelve (12) years on a straight-line basis. A summary of intangible assets as of December 31, 2021 and September 30, 2021 is as follows: SCHEDULE OF INTANGIBLE ASSETS December 31, 2021 September 30, VoIP Intellectual property and patents $ 1,552,416 $ 1,552,416 Accumulated amortization (1,084,016 ) (1,049,466 ) Net book value $ 468,400 $ 502,950 There were no disposals of any intangible assets in the periods presented. |
RELATED PARTY TRANSACTIONS AND
RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT COMPENSATION | 3 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT COMPENSATION | NOTE 8. RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT COMPENSATION The Company compensates certain of its key management personnel to operate its business in the normal course. Key management includes the Company’s executive officers and members of its Board of Directors. Compensation paid or accrued to key management for services during the three-month period ended December 31, 2021 and 2020 includes: SCHEDULE OF COMPENSATION PAID OR ACCRUED TO KEY MANAGEMENT FOR SERVICES December 31, 2021 December 31, Management fees paid or accrued to the CEO $ - $ 36,000 Management fees paid to the current CFO 4,500 - Management fees paid or accrued to the former CFO - 21,600 Fees paid or accrued to Directors 12,000 - $ 16,500 $ 57,600 During the three-month period ended December 31, 2021 the Company accrued $ 2,000 50,400 14,500 7,200 16,500 57,600 2,000 Nil During the year ended September 31, 2021 two members of the Board of Directors resigned and forgave $ 90,000 416,000 As at December 31, 2021, there are nil Nil 513,535,229 107,935,333 621,470,562 0.021 ten years VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 |
SUPPLEMENTAL CASH FLOW INFORMAT
SUPPLEMENTAL CASH FLOW INFORMATION | 3 Months Ended |
Dec. 31, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
SUPPLEMENTAL CASH FLOW INFORMATION | NOTE 9. SUPPLEMENTAL CASH FLOW INFORMATION During the period ended December 31, 2021, the Company paid $ Nil Nil There were no non-cash investing or financing transactions during the three-month periods ended December 31, 2021 and 2020. |
SHARE CAPITAL
SHARE CAPITAL | 3 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
SHARE CAPITAL | NOTE 10. SHARE CAPITAL Capital Stock Authorized and Issued as at December 31, 2021: - 3,000,000,000 3,000,000,000 0.001 1,759,247,863 1,731,447,863 - 1,000,000 0.01 Nil Nil Issues during the three-month period ended December 31, 2021 During the three-month period ended December 31, 2021, the Company issued 27,800,000 0.005 139,000 Issues during the year ended September 30, 2021 During the year ended September 30, 2021, the Company: - issued 193,201,500 0.005 0.01 1,018,515 - issued 17,800,000 281,100 - returned to treasury 513,535,229 Nil - issued 621,470,562 0.021 ten years - granted 90,000,000 90,000,000 0.025 five year - returned to treasury 8,000,000 8,000,000 0.06 Subsequent Issues Subsequent to the period ended December 31, 2021, the Company issued: - 8,900,000 0.005 44,500 - 8,000,000 65,000 Shares to be Issued As at December 31, 2021, there are 1,977,523 1,977,523 61,320 61,320 As at December 31, 2021, there are nil Nil 107,935,333 VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 3 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
STOCK-BASED COMPENSATION | NOTE 11. STOCK-BASED COMPENSATION Warrants As of December 31, 2021, there are 621,470,562 621,470,562 During the year ended September 30, 2021, on April 16, 2021, the Company issued 621,470,562 0.021 ten years 1.59 0 10 0 184.22 0 0 0 11,089,812 nil 0.018 nil Stock Option Plan In order to provide incentive to directors, officers, management, employees, consultants and others who provide services to the Company or any subsidiary (the “Service Providers”) to act in the best interests of the Company, and to retain such Service Providers, the Company has in place an incentive Stock Option Plan (the “Plan”) whereby the Company is authorized to issue up to 10% of its issued and outstanding share capital in options to purchase common shares of the Company. The maximum term of options granted under the Plan cannot exceed ten years, with vesting terms determined at the discretion of the Board of Directors. The following table summarizes the Company’s stock option transactions: SCHEDULE OF STOCK OPTIONS TRANSACTIONS Number of options Weighted average exercise price Balance September 30, 2020 34,850,000 $ 0.037 Granted 90,000,000 0.025 Cancelled / Expired (8,000,000 ) 0.060 Balance September 30, 2021 116,850,000 $ 0.026 Cancelled / Expired (3,450,000 ) 0.060 Balance December 31, 2021 113,400,000 $ 0.025 The following table summarizes the stock options outstanding at December 31, 2021: SCHEDULE OF STOCK OPTIONS OUTSTANDING Options Outstanding Exercise Price Remaining Contractual Life (Yrs) Number of Options Currently Exercisable 8,400,000 0.050 0.3 8,400,000 15,000,000 0.010 3.73 15,000,000 90,000,000 0.025 4.31 45,000,000 113,400,000 $ 0.025 3.94 68,400,000 There were no stock options granted, exercised or that vested during the three-month period ended December 31, 2021. During the year ended September 30, 2021, on April 23, 2021 the Company granted 90,000,000 90,000,000 0.025 five years The following assumptions were used for the Black-Scholes valuation of stock options granted during the year ended September 30, 2021: risk-free rate of 0.83 0 5 0 160 0 0 0 1,003,166 nil 45,000,000 90,000,000 The weighted-average grant-date fair value of options granted during the year ended September 30, 2021 was $ 0.022 Nil VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 |
CONTINGENT LIABILITIES
CONTINGENT LIABILITIES | 3 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
CONTINGENT LIABILITIES | NOTE 12. CONTINGENT LIABILITIES Patent Litigation The Company is party to patent and patent-related litigation cases as follows: i) VoIP-Pal.com Inc. v. Apple, Inc. (Case No. 2:16-CV-00260) & Verizon Wireless Services, LLC, Verizon Communications Inc., AT&T Corp. (Case No. 2:16-CV-00271) in the United States District Court, District of Nevada In February 2016 the Company filed patent infringement lawsuits in the United States District Court, District of Nevada against Apple, Inc, (Case No. 2:16-CV-00260), Verizon Wireless Services, LLC, Verizon Communications Inc., and AT&T Corp. (Case No. 2:16-CV-00271). These cases are seeking a combined $ 7,024,377,876 In August, 2018, the cases were consolidated under one lawsuit, and transferred to the U.S. District Court for the Northern District of California, where they were renamed as Case Nos. 5:18-cv-06217-LHK, 5:18-cv-06054-LHK and 5:18-cv-06177-LHK. The Defendants filed a Motion to Dismiss the cases, asserting that Voip-Pal’s ’005 and ’815 patents do not claim patentable subject matter. On March 25, 2019, the U.S. District Court for the Northern District of California granted the Defendants’ Motion to Dismiss in all of the cases. The Company appealed the district court decision to the US Court of Appeals for the Federal Circuit. The Federal Circuit affirmed the district court’s decision. On April 15, 2020, the Company filed a combined petition for rehearing and rehearing en banc ii) VoIP-Pal.com Inc. v. Twitter, Inc. (Case No. 2:16-CV-02338) in the United States District Court, District of Nevada On October 6, 2016, the Company filed a lawsuit in the United States District Court, District of Nevada against Twitter, Inc, (Case No. 2:16- CV-02338) in which Voip-Pal.com alleges infringement of U.S. Patent No. 8,542,815 and its continuation patent, U.S. Patent No. 9,179,005, This case is seeking $ 3,200,000,000 On April 15, 2020, the Company filed a combined petition for rehearing and rehearing en banc iii) VoIP-Pal.com Inc. v. Amazon.com, Inc. et al. (Case No. 2:18-CV-01076) in the United States District Court, District of Nevada In June 2018, the Company filed a lawsuit in the United States District Court, District of Nevada, against Amazon.com, Inc. and certain related entities, alleging infringement of U.S. Patent Nos. 9,537,762, 9,813,330, 9,826,002 and 9,948,549. In November 2018, the case was transferred to the U.S. District Court for the Northern District of California, where it was renamed Case No. 5:18-cv-07020-LHK and consolidated with Case No. 5:18-cv-06216-LHK. The Defendants filed a Motion to Dismiss the cases, asserting that Voip-Pal’s ’762, ’330, ’002, and ’549 patents do not claim patentable subject matter. On November 1, 2019, the U.S. District Court for the Northern District of California granted the Defendants’ Motion to Dismiss in all of the cases. The Company appealed the district court decision to the U.S. Court of Appeals for the Federal Circuit, who affirmed the district court’s decision. During the period ended December 31, 2020, the Company filed a petition for rehearing of this case, which petition was subsequently denied by the court in January 2021. In January, 2021 the Company filed a petition for rehearing of this case, which was denied by the Federal Circuit on January 26, 2021. On June 25, 2021, the Company filed a Petition for Writ of Certiorari with the U.S. Supreme Court. On October 4, 2021, the petition was denied. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 12. CONTINGENT LIABILITIES (CONT’D) Patent Litigation iv) VoIP-Pal.com Inc. v. Apple, Inc. et al. (Case No. 2:18-CV-00953) in the United States District Court, District of Nevada In May 2018, the Company filed a lawsuit in the United States District Court, District of Nevada, against Apple, Inc., alleging infringement of U.S. Patent Nos. 9,537,762, 9,813,330, 9,826,002 and 9,948,549. In November 2018, the case was transferred to the U.S. District Court for the Northern District of California, where it was renamed Case No. 5:18-cv-06216-LHK and consolidated with Case No. 5:18-cv-07020. The Defendants filed a Motion to Dismiss the cases, asserting that Voip-Pal’s ’762, ’330, ’002, and ’549 patents do not claim patentable subject matter. On November 1, 2019, the U.S. District Court for the Northern District of California granted the Defendants’ Motion to Dismiss in all of the cases. The Company appealed the district court decision to the U.S. Court of Appeals for the Federal Circuit, who affirmed the district court’s decision. In January, 2021, the Company filed a petition for rehearing of this case, which was denied by the Federal Circuit on January 26, 2021. On June 25, 2021, the Company filed a Petition for Writ of Certiorari with the U.S. Supreme Court. On October 4, 2021, the petition was denied. v) VoIP-Pal.com Inc. v. Facebook, Inc. et al. Case No. 6-20-cv-00267 in the US District Court, Western District of Texas In April 2020, the Company filed a lawsuit in the United States District Court, Western District of Texas, against Facebook, Inc. and certain related entities, alleging infringement of U.S. Patent No. 10,218,606. The case is pending. vi) VoIP-Pal.com Inc. v. Google, LLC fka Google, Inc. Case No. 6-20-cv-00269 in US District Court, Western District of Texas. In April 2020, the Company filed a lawsuit in the United States District Court, Western District of Texas, against Google, alleging infringement of U.S. Patent No. 10,218,606. The case is pending. vii) VoIP-Pal.com Inc. v. Amazon.com, Inc. et al. Case No. 6-20-cv-00272 in US District Court, Western District of Texas. In April 2020, the Company filed a lawsuit in the United States District Court, Western District of Texas, against Amazon.com, Inc. and certain related entities, alleging infringement of U.S. Patent No. 10,218,606. The case is pending. viii) VoIP-Pal.com Inc. v. Apple, Inc. Case No. 6-20-cv-00275 in the US District Court, Western District of Texas. In April 2020, the Company filed a lawsuit in the United States District Court, Western District of Texas, against Apple, Inc. alleging infringement of U.S. Patent No. 10,218,606. On March 24, 2021, VoIP-Pal voluntarily dismissed this case. ix) VoIP-Pal.com Inc. v. AT&T, Inc. et al. Case No. 6-20-cv-00325 in the US District Court, Western District of Texas. In April 2020, the Company filed a lawsuit in the United States District Court, Western District of Texas, against AT&T, Inc. and certain related entities, alleging infringement of U.S. Patent No. 10,218,606. On March 25, 2021, the Court dismissed this case without prejudice. x) VoIP-Pal.com Inc. v. Verizon Comm, Inc. et al. Case No. 6-20-cv-00327 in the US District Court, Western District of Texas. In April 2020, the Company filed a lawsuit in the US District Court, Western District of Texas, against Verizon Communications, Inc. and certain related entities, alleging infringement of U.S. Patent No. 10,218,606. On April 1, 2021, the Court dismissed this case without prejudice. xi) Twitter, Inc. v. VoIP-Pal.com Inc. Case No. 5-20-cv-02397 in the United States District Court, Northern District of California. In April 2020, Twitter filed a declaratory judgment lawsuit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent No. 10,218,606. The case is pending. On March 24, 2021, VoIP-Pal moved to dismiss this case for lack of subject-matter jurisdiction. On August 30, 2021, the Court granted the motion. On September 27, 2021, Twitter filed a motion for attorney’s fees. The motion is pending. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 12. CONTINGENT LIABILITIES (CONT’D) Patent Litigation xii) Apple, Inc. v. VoIP-Pal.com Inc. Case No. 5:20-cv-02460 in the United States District Court, Northern District of California. In April 2020, Apple filed a declaratory judgment suit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent Nos. 9,935,872 and 10,218,606. The case is pending. On January 13, 2021, VoIP-Pal filed a Petition for Writ of Mandamus with the U.S. Court of Appeals for the Federal Circuit (Case No. 2021-00112) seeking to reverse the district court’s denial of VoIP-Pal’s motion to dismiss this action under the first-to-file rule. On February 19, 2021, the Mandamus petition was denied by the Court. On March 24, 2021, VoIP-Pal moved to dismiss this case for lack of subject-matter jurisdiction. On August 26, 2021, the Court denied the motion. On October 22, 2021, the parties stipulated to dismissal of the case without prejudice. xiii) AT&T Corp., et al. v. VoIP-Pal.com Inc. Case No. 5:20-cv-02995 in the U.S. District Court, Northern District of California. In April 2020, AT&T filed a declaratory judgment lawsuit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent No. 10,218,606. The case is pending. On January 13, 2021, VoIP-Pal filed a Petition for Writ of Mandamus with the U.S. Court of Appeals for the Federal Circuit (Case No. 2021-00112) seeking to reverse the district court’s denial of VoIP-Pal’s motion to dismiss this action under the first-to-file rule. On February 19, 2021, the Mandamus petition was denied by the Court. On March 24, 2021, VoIP-Pal moved to dismiss this case for lack of subject-matter jurisdiction. On August 25, 2021, the Court denied the motion. On October 13, 2021, the parties stipulated to dismissal of the case without prejudice. xiv) Cellco Partnership dba Verizon Wireless, v. VoIP-Pal.com Inc. Case No. 5:20-cv-03092 in the United States District Court, Northern District of California. In April 2020, Verizon filed a declaratory judgment lawsuit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent No. 10,218,606. The case is pending. On January 13, 2021, VoIP-Pal filed a Petition for Writ of Mandamus with the U.S. Court of Appeals for the Federal Circuit (Case No. 2021-00112) seeking to reverse the district court’s denial of VoIP-Pal’s motion to dismiss this action under the first-to-file rule. On February 19, 2021, the Mandamus petition was denied by the Court. On March 24, 2021, VoIP-Pal moved to dismiss this case for lack of subject-matter jurisdiction. On May 25, 2021, the parties stipulated to dismissal of the case without prejudice. On May 26, 2021, the Court granted the stipulation. xv) Twitter, Inc. v. VoIP-Pal.com Inc. Case No. 3-21-cv-02769 in the United States District Court, Northern District of California On April 16, 2021, Twitter Inc. filed a declaratory judgment lawsuit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent No. 9,935,872. The case is pending. On June 21, 2021, VoIP-Pal moved to dismiss this case for lack of jurisdiction. During the period ended December 31, 2021, on November 2, 2021, the Court denied the motion. The case is pending. xvi) VoIP-Pal.com, Inc. v. Facebook, Inc. et al Case No. 6-21-cv-665 in the United States District Court, Western District of Texas On June 25, 2021, the Company filed a lawsuit in the US District Court, Western District of Texas, against Facebook, Inc. and WhatsApp, Inc. alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. xvii) VoIP-Pal.com, Inc. v. Google, LLC Case No. 6-21-cv-667 in the United States District Court, Western District of Texas On June 25, 2021, the Company filed a lawsuit in the US District Court, Western District of Texas, against Google LLC alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. xviii) VoIP-Pal.com, Inc. v. Amazon.com, Inc. et al. Case No. 6-21-cv-668 in the U.S. District Court, Western District of Texas On June 25, 2021, the Company filed a lawsuit in the U.S. District Court, Western District of Texas, against Amazon and related entities alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 12. CONTINGENT LIABILITIES (CONT’D) Patent Litigation xix) VoIP-Pal.com, Inc. v. Apple Inc. Case No. 6-21-cv-670 in the U.S. District Court, Western District of Texas On June 25, 2021, the Company filed a lawsuit in the U.S. District Court, Western District of Texas, against Apple alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. On October 22, 2021, the parties stipulated to dismissal of the case without prejudice. xx) VoIP-Pal.com, Inc. v. AT&T Corp. et al. Case No. 6-21-cv-671 in the U.S. District Court, Western District of Texas On June 25, 2021, the Company filed a lawsuit in the U.S. District Court, Western District of Texas, against AT&T and related entities alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. On October 13, 2021, the parties stipulated to dismissal of the case without prejudice. xxi) VoIP-Pal.com, Inc. v. Verizon Comms., Inc. Case No. 6-21-cv-672 in the U.S. District Court, Western District of Texas On June 25, 2021, the Company filed a lawsuit in the U.S. District Court, Western District of Texas, against Verizon and related entities alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. xxii) VoIP-Pal.com, Inc. v. T-Mobile US, Inc. et al. Case No. 6-21-cv-668 in the U.S. District Court, Western District of Texas On June 25, 2021, the Company filed a lawsuit in the U.S. District Court, Western District of Texas, against T-Mobile and related entities alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. xxiii) Apple, Inc. v. VoIP-Pal.com Inc. Case No. 5:21-cv-5110 in the U.S. District Court, Northern District of California. On July 1, 2021, Apple filed a declaratory judgment suit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent Nos. 8,630,234 and 10,880,721. On October 22, 2021, the parties stipulated to dismissal of the case without prejudice. xxiv) AT&T Corp., et al. v. VoIP-Pal.com Inc. Case No. 5:21-cv-5078 in the U.S. District Court, Northern District of California. On June 30, 2021, AT&T filed a declaratory judgment lawsuit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent Nos. 8,630,234 and 10,880,721. On October 13, 2021, the parties stipulated to dismissal of the case without prejudice. xxv) Cellco Partnership dba Verizon Wireless, v. VoIP-Pal.com Inc. Case No. 5:21-cv-5275 in the U.S. District Court, Northern District of California. On July 8, 2021, Verizon filed a declaratory judgment lawsuit against the Company in the United States District Court, Northern District of California, alleging non-infringement and invalidity of U.S. Patent Nos. 8,630,234 and 10,880,721. On October 15, 2021, the court stayed the case. xxvi) VoIP-Pal.com Inc v Samsung Electronics Co., Ltd. et al. Case No. 6-21-cv-1246 in U.S. District Court, Western District of Texas During the period ended December 31, 2021, on November 30, 2021, the Company filed a lawsuit in the U.S. District Court, Western District of Texas, against Samsung and related entities alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. xxvii) VoIP-Pal.com, Inc v Huawei Technologies Co, Ltd. et al Case No. 6-21-cv-1247 in U.S. District Court, Western District of Texas During the period ended December 31, 2021, on November 30, 2021, the Company filed a lawsuit in the U.S. District Court, Western District of Texas, against Huawei and related entities alleging infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. xxviii) Twitter, Inc. v. VoIP-Pal.com Inc. Case No. 3:21-cv-9773 in the U.S. District Court, Northern District of California During the period ended December 31, 2021, on December 17, 2021, Twitter filed a declaratory judgment lawsuit against the Company in the United States District Court, Northern District of California, alleging non-infringement of U.S. Patent Nos. 8,630,234 and 10,880,721. The case is pending. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 12. CONTINGENT LIABILITIES (CONT’D) Non-Patent Litigation The Company is party to non-patent litigation cases as follows: 1. Locksmith Financial Corporation, Inc. et al. (Plaintiff(s)) v VoIP-Pal.com Inc. et al (Defendant(s)) (Case No A-20-807745-C) filed in Clark County District Court. During the year ended September 30, 2021, the Plaintiff filed suit in Nevada District Court claiming that the Defendants had prevented the Plaintiffs from re-registering and/or transferring certain share certificates. Subsequent to the period ended December 31, 2021, the Court entered a judgment in favor of VoIP-Pal.com Inc and co-defendants, dismissing the case. It is uncertain if the Plaintiffs will appeal. 2. T K Investments, Inc. et al. (Plaintiff(s)) v VoIP-Pal.com Inc. et al (Defendant(s)) (Case No A-20-807835-C) filed in Clark County District Court. During the year ended September 30, 2021, the Plaintiff filed suit in Nevada District Court claiming that the Defendants had prevented the Plaintiffs from re-registering and/or transferring certain share certificates. Subsequent to the period ended December 31, 2021, the Court entered a judgment in favor of VoIP-Pal.com Inc and co-defendants, dismissing the case. It is uncertain if the Plaintiffs will appeal. 3. Kashwise Global Funding, Inc. (Plaintiff) v VoIP-Pal.com Inc. (Defendant) (Case No CACE-20-005215) filed in Circuit Court in and for Broward County, Florida. During the year ended September 30, 2020, the Plaintiff filed suit claiming that the Defendant had failed to pay the Plaintiff a fee for a third-party funding that did not close. The Defendant has filed a Response indicating that the complaint has no merit. The case is pending. Performance Bonus Payable In 2016, the board of directors authorized the Company to provide a performance bonus (the “Performance Bonus”) of up to 3 In 2019, the board of directors authorized the increase of the Performance Bonus to up to 10 66.67 127,000,000 60,000,000 As at December 31, 2021, no bonusable event had occurred and there was no Performance Bonus payable. |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation These consolidated financial statements have been prepared on a consolidated basis and include the accounts of the Company and its wholly owned subsidiary Digifonica. All intercompany transactions and balances have been eliminated. As at December 31, 2021, Digifonica had no activities. |
Use of Estimates | Use of Estimates The preparation of these consolidated financial statements required management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from these estimates. Where estimates have been used, financial results as determined by actual events could differ from those estimates. |
Cash | Cash Cash consists of cash on hand, cash held in trust, and monies held in checking and savings accounts. The Company had $ 46,175 176,503 |
Fixed Assets | Fixed Assets Fixed assets are stated at cost less accumulated depreciation, and depreciated using the straight-line method over their useful lives; Furniture and computers – 5 |
Intangible Assets | Intangible Assets Intangible assets, consisting of VoIP communication patent intellectual properties (IP) are recorded at cost and amortized over the assets estimated life on a straight-line basis. Management considers factors such as remaining life of the patents, technological usefulness and other factors in estimating the life of the assets. The carrying value of intangible assets are reviewed for impairment by management of the Company at least annually or upon the occurrence of an event which may indicate that the carrying amount may be less than its fair value. If impaired, the Company will write-down such impairment. In addition, the useful life of the intangible assets will be evaluated by management at least annually or upon the occurrence of an event which may indicate that the useful life may have changed. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurement, defines fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (CONT’D) U.S. GAAP establishes a framework for measuring fair value under generally accepted accounting principles and enhances disclosures about fair value measurements. Fair value is defined as the amount that would be received for an asset or paid to transfer a liability (i.e., an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value: Level 1: Quoted prices in active markets for identical assets and liabilities. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of cash is classified as Level 1 at December 31, 2021 and September 30, 2021. The Company classifies its financial instruments as follows: Cash is classified as held for trading and is measured at fair value. Accounts payable and accrued liabilities are classified as other financial liabilities, and have a fair value approximating their carrying value, due to their short-term nature. |
Income Taxes | Income Taxes Deferred income taxes have been provided for temporary differences between financial statement and income tax reporting under the asset and liability method, using expected tax rates and laws that are expected to be in effect when the differences are expected to reverse. A valuation allowance is provided when realization is not considered more likely than not. The Company’s policy is to classify income tax assessments, if any, for interest expense and for penalties in general and administrative expenses. The Company’s income tax returns are subject to examination by the IRS and corresponding states, generally for three years after they are filed. |
Loss per Common Share | Loss per Common Share Basic loss per share is calculated using the weighted-average number of common shares outstanding during each period. Diluted income per share includes potentially dilutive securities such as outstanding options and warrants outstanding during each period. To calculate diluted loss per share the Company uses the treasury stock method and the If-converted method. For the period ended December 31, 2021 and the year ended September 30, 2021 there were no |
Derivatives | Derivatives We account for derivatives pursuant to ASC 815, Accounting for Derivative Instruments and Hedging Activities |
Stock-based compensation | Stock-based compensation The Company recognizes compensation expense for all stock-based payments made to employees, directors and others based on the estimated fair values of its common stock on the date of issuance. The Company determines the fair value of the share-based compensation payments granted as either the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. If the fair value of the equity instruments issued is used, it is measured using the stock price and other measurement assumptions as of the earlier of either the date at which a commitment for performance to earn the equity instrument is reached or the date the performance is complete. The Company recognizes compensation expense for stock awards with service conditions on a straight-line basis over the requisite service period, which is included in operations. Stock option expense is recognized over the option’s vesting period. VOIP-PAL.COM INC. Notes to the Interim Consolidated Financial Statements (Unaudited – prepared by management) (Expressed in United States Dollars) December 31, 2021 NOTE 3. SIGNIFICANT ACCOUNTING POLICIES (CONT’D) |
Concentrations of Credit Risk | Concentrations of Credit Risk The Company’s policy is to maintain cash with reputable financial institutions or in retainers with trusted vendors. The Company has at times had cash balances at financial institutions in excess of the Federal Deposit Insurance Corporation (FDIC) Insurance Limit of $ 250,000 |
Recent Accounting Pronouncements and Adoption | Recent Accounting Pronouncements and Adoption ASU 2020-10 – Codification Improvements In October 2020, the FASB issued ASU 2020-10, Codification Improvements. The guidance contains improvements to the Codification by ensuring that all guidance that requires or provides an option for an entity to provide information in the notes to financial statements is codified in the Disclosure Section of the Codification. The guidance also contains Codifications that are varied in nature and may affect the application of the guidance in cases in which the original guidance may have been unclear. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 15, 2020. For all other entities, the amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. Early adoption is permitted. We do not expect the adoption of ASU 2020-10 to have a material impact on our condensed consolidated financial statements. ASU 2021-04 – Earnings per share In May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40). The new ASU addresses issuer’s accounting for certain modifications or exchanges of freestanding equity-classified written call options. This amendment is effective for all entities, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted. The Company will evaluate the impact of the pronouncement closer to the effective date. |
FIXED ASSETS (Tables)
FIXED ASSETS (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
SCHEDULE OF FIXED ASSETS | A summary of the Company’s fixed assets as of December 31, 2021 and September 30, 2021 is as follows: SCHEDULE OF FIXED ASSETS December 31, 2021 September 30, Office furniture & computers $ 11,917 $ 11,917 Accumulated depreciation (5,833 ) (5,269 ) Net book value $ 6,084 $ 6,648 |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
SCHEDULE OF INTANGIBLE ASSETS | SCHEDULE OF INTANGIBLE ASSETS December 31, 2021 September 30, VoIP Intellectual property and patents $ 1,552,416 $ 1,552,416 Accumulated amortization (1,084,016 ) (1,049,466 ) Net book value $ 468,400 $ 502,950 |
RELATED PARTY TRANSACTIONS AN_2
RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT COMPENSATION (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
SCHEDULE OF COMPENSATION PAID OR ACCRUED TO KEY MANAGEMENT FOR SERVICES | Compensation paid or accrued to key management for services during the three-month period ended December 31, 2021 and 2020 includes: SCHEDULE OF COMPENSATION PAID OR ACCRUED TO KEY MANAGEMENT FOR SERVICES December 31, 2021 December 31, Management fees paid or accrued to the CEO $ - $ 36,000 Management fees paid to the current CFO 4,500 - Management fees paid or accrued to the former CFO - 21,600 Fees paid or accrued to Directors 12,000 - $ 16,500 $ 57,600 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
SCHEDULE OF STOCK OPTIONS TRANSACTIONS | The following table summarizes the Company’s stock option transactions: SCHEDULE OF STOCK OPTIONS TRANSACTIONS Number of options Weighted average exercise price Balance September 30, 2020 34,850,000 $ 0.037 Granted 90,000,000 0.025 Cancelled / Expired (8,000,000 ) 0.060 Balance September 30, 2021 116,850,000 $ 0.026 Cancelled / Expired (3,450,000 ) 0.060 Balance December 31, 2021 113,400,000 $ 0.025 |
SCHEDULE OF STOCK OPTIONS OUTSTANDING | The following table summarizes the stock options outstanding at December 31, 2021: SCHEDULE OF STOCK OPTIONS OUTSTANDING Options Outstanding Exercise Price Remaining Contractual Life (Yrs) Number of Options Currently Exercisable 8,400,000 0.050 0.3 8,400,000 15,000,000 0.010 3.73 15,000,000 90,000,000 0.025 4.31 45,000,000 113,400,000 $ 0.025 3.94 68,400,000 |
NATURE AND CONTINUANCE OF OPE_2
NATURE AND CONTINUANCE OF OPERATIONS (Details Narrative) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated deficit | $ 66,685,703 | $ 66,384,163 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Sep. 30, 2021 | |
Property, Plant and Equipment [Line Items] | ||
Cash | $ 46,175 | $ 176,503 |
Antidilutive securities | 0 | 0 |
Cash, FDIC insured amount | $ 250,000 | |
Furniture and Computers [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 5 years |
PURCHASE OF DIGIFONICA (Details
PURCHASE OF DIGIFONICA (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | |
Apr. 12, 2021 | Dec. 31, 2013 | Dec. 31, 2021 | |
Seller of Digifonica [Member] | |||
Business Acquisition [Line Items] | |||
Treasury stock, shares, acquired | 513,535,229 | 513,535,229 | |
Additional shares accrued during period shares | 107,935,333 | 107,935,333 | |
Number of warrant exercised to purchase common shares | 621,470,562 | 621,470,562 | |
Common shares price | $ 0.021 | $ 0.021 | |
Warrants Term | 10 years | 10 years | |
Share Purchase Agreement [Member] | Digifonica [Member] | |||
Business Acquisition [Line Items] | |||
Business acquisition, percentage of ownership acquired | 100.00% | ||
Business combination, cash transferred | $ 800,000 | ||
Business acquisition, equity interest issued, number of shares | 389,023,561 | ||
Anti-dilution clause, percentage of ownership | 40.00% |
RETAINER (Details Narrative)
RETAINER (Details Narrative) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Retainer | ||
Prepaid retainers, value | $ 11,292 | $ 14,418 |
SCHEDULE OF FIXED ASSETS (Detai
SCHEDULE OF FIXED ASSETS (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Property, Plant and Equipment [Abstract] | ||
Office furniture & computers | $ 11,917 | $ 11,917 |
Accumulated depreciation | (5,833) | (5,269) |
Net book value | $ 6,084 | $ 6,648 |
SCHEDULE OF INTANGIBLE ASSETS (
SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
VoIP Intellectual property and patents | $ 1,552,416 | $ 1,552,416 |
Accumulated amortization | (1,084,016) | (1,049,466) |
Net book value | $ 468,400 | $ 502,950 |
SCHEDULE OF COMPENSATION PAID O
SCHEDULE OF COMPENSATION PAID OR ACCRUED TO KEY MANAGEMENT FOR SERVICES (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Fees paid or accrued | $ 16,500 | $ 57,600 |
Chief Executive Officer [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Fees paid or accrued | 36,000 | |
Chief Financial Officer [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Fees paid or accrued | 4,500 | |
Former Chief Financial Officer [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Fees paid or accrued | 21,600 | |
Directors [Member] | ||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ||
Fees paid or accrued | $ 12,000 |
RELATED PARTY TRANSACTIONS AN_3
RELATED PARTY TRANSACTIONS AND KEY MANAGEMENT COMPENSATION (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |
Apr. 12, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | |
Related Party Transaction [Line Items] | ||||
Accrued fees | $ 2,000 | $ 50,400 | ||
Value for compensation | 14,500 | 7,200 | ||
Fees paid or accrued, total | 16,500 | 57,600 | ||
Accounts payable and accrued liabilities | 175,571 | $ 181,599 | ||
Gain on settlement of accrued payables | $ (90,000) | |||
Shares to be issued for unpaid director fees | $ 416,000 | |||
Seller of Digifonica [Member] | ||||
Related Party Transaction [Line Items] | ||||
Shares accrued during period, shares | ||||
Treasury stock, shares, acquired | 513,535,229 | 513,535,229 | ||
Shares accrued during period, shares | 107,935,333 | 107,935,333 | ||
Number of warrant exercised to purchase common shares | 621,470,562 | 621,470,562 | ||
Common shares price | $ 0.021 | $ 0.021 | ||
Warrant term | 10 years | 10 years | ||
Officers and Directors [Member] | ||||
Related Party Transaction [Line Items] | ||||
Accounts payable and accrued liabilities | $ 2,000 | |||
Two Members of Board of Directors [Member] | ||||
Related Party Transaction [Line Items] | ||||
Gain on settlement of accrued payables | $ 90,000 |
SUPPLEMENTAL CASH FLOW INFORM_2
SUPPLEMENTAL CASH FLOW INFORMATION (Details Narrative) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Sep. 30, 2021 | |
Supplemental Cash Flow Elements [Abstract] | ||
Interest paid, net |
SHARE CAPITAL (Details Narrativ
SHARE CAPITAL (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Feb. 10, 2022 | Apr. 23, 2021 | Apr. 16, 2021 | Apr. 12, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2021 | |
Class of Stock [Line Items] | ||||||||
Common stock, shares authorized | 3,000,000,000 | 3,000,000,000 | 3,000,000,000 | |||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||
Common stock, shares issued | 1,759,247,863 | 1,731,447,863 | 1,731,447,863 | |||||
Cash proceeds from private placement | $ 139,000 | $ 125,015 | ||||||
Stock option granted , shares | 90,000,000 | |||||||
Options exercisable | 5 years | |||||||
Shares issued for services during period | $ 101,000 | $ 197,900 | ||||||
Subsequent Event [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Shares issued for services during period, shares | 8,000,000 | |||||||
Shares issued for services during period | $ 65,000 | |||||||
Directors officers employees consultants and advisors [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Stock option granted , shares | 90,000,000 | |||||||
Options exercisable | 5 years | |||||||
Consultants and advisors [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Stock option granted , shares | 8,000,000 | |||||||
Seller of Digifonica [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Warrant per share | $ 0.021 | $ 0.021 | ||||||
Warrant term | 10 years | 10 years | ||||||
Additional shares accrued during period shares | 107,935,333 | 107,935,333 | ||||||
Digifonica Purchase Agreement [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of shares authorized to be purchase | 513,535,229 | 513,535,229 | ||||||
Value of stock repurchased | ||||||||
Common Stock [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of shares issued | 193,201,500 | |||||||
Cash proceeds from private placement | $ 1,018,515 | |||||||
Shares issued for services during period, shares | 17,800,000 | |||||||
Shares issued for services during period | $ 281,100 | |||||||
Warrant shares | 621,470,562 | 621,470,562 | 621,470,562 | |||||
Warrant per share | $ 0.021 | $ 0.021 | $ 0.021 | |||||
Warrant term | 10 years | 10 years | 10 years | |||||
Shares issued for services during period, shares | 5,000,000 | 12,800,000 | ||||||
Shares issued for services during period | $ 5,000 | $ 12,800 | ||||||
Additional shares accrued during period shares | 107,935,333 | |||||||
Common Stock [Member] | Share to be Issued [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Shares issued for services during period, shares | 1,977,523 | 1,977,523 | ||||||
Shares issued for services during period | $ 61,320 | $ 61,320 | ||||||
Common Stock [Member] | Directors officers employees consultants and advisors [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share price | $ 0.025 | $ 0.025 | ||||||
Common Stock [Member] | Consultants and advisors [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share price | 0.06 | $ 0.06 | ||||||
Common Stock [Member] | Seller of Digifonica [Member] | Share to be Issued [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Outstanding warrants exercised | ||||||||
Common Stock [Member] | Minimum [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share price | 0.005 | $ 0.005 | ||||||
Common Stock [Member] | Maximum [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Share price | $ 0.01 | $ 0.01 | ||||||
Private Placement [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of shares issued | 27,800,000 | |||||||
Share price | $ 0.005 | |||||||
Proceed from common stock | $ 139,000 | |||||||
Private Placement [Member] | Subsequent Event [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Number of shares issued | 8,900,000 | |||||||
Share price | $ 0.005 | |||||||
Proceed from common stock | $ 44,500 | |||||||
Convertible Preferred Stock [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Preferred stock, shares authorized | 1,000,000 | |||||||
Preferred stock, par value | $ 0.01 | |||||||
Preferred stock, shares issued |
SCHEDULE OF STOCK OPTIONS TRANS
SCHEDULE OF STOCK OPTIONS TRANSACTIONS (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Dec. 31, 2021 | Sep. 30, 2021 | |
Share-based Payment Arrangement [Abstract] | ||
Number of options, beginning balance | 116,850,000 | 34,850,000 |
Weighted average exercise price, beginning balance | $ 0.026 | $ 0.037 |
Number of options, Granted | 90,000,000 | |
Weighted average exercise price, Granted | $ 0.025 | |
Number of options, Cancelled/Expired | (3,450,000) | (8,000,000) |
Weighted average exercise price, Cancelled/Expired | $ 0.060 | $ 0.060 |
Number of options, ending balance | 113,400,000 | 116,850,000 |
Weighted average exercise price, ending balance | $ 0.025 | $ 0.026 |
SCHEDULE OF STOCK OPTIONS OUTST
SCHEDULE OF STOCK OPTIONS OUTSTANDING (Details) - $ / shares | 3 Months Ended | ||
Dec. 31, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Options Outstanding | 113,400,000 | 116,850,000 | 34,850,000 |
Exercise Price | $ 0.025 | $ 0.026 | $ 0.037 |
Remaining Contractual Life | 3 years 11 months 8 days | ||
Number of Options Currently Exercisable | 68,400,000 | ||
Range 1 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Options Outstanding | 8,400,000 | ||
Exercise Price | $ 0.050 | ||
Remaining Contractual Life | 3 months 18 days | ||
Number of Options Currently Exercisable | 8,400,000 | ||
Range 2 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Options Outstanding | 15,000,000 | ||
Exercise Price | $ 0.010 | ||
Remaining Contractual Life | 3 years 8 months 23 days | ||
Number of Options Currently Exercisable | 15,000,000 | ||
Range 3 [Member] | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Options Outstanding | 90,000,000 | ||
Exercise Price | $ 0.025 | ||
Remaining Contractual Life | 4 years 3 months 21 days | ||
Number of Options Currently Exercisable | 45,000,000 |
STOCK-BASED COMPENSATION (Detai
STOCK-BASED COMPENSATION (Details Narrative) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||
Apr. 23, 2021 | Sep. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2021 | Apr. 16, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant outstanding, shares | 621,470,562 | 621,470,562 | 621,470,562 | |||
Risk free interest rate | 0.83% | 0.00% | ||||
Expected life (in years) | 5 years | 0 years | ||||
Expected volatility | 160.00% | 0.00% | ||||
Expected dividend yield | 0.00% | 0.00% | ||||
Warrants and rights outstanding | $ 11,089,812 | $ 11,089,812 | ||||
Share issued granded , price per share | $ 0.022 | |||||
Contractual term | 5 years | |||||
Compensation cost | $ 1,003,166 | $ 1,003,166 | ||||
Options outstanding | 116,850,000 | 116,850,000 | 34,850,000 | 113,400,000 | ||
Number of options currently exercisable | 68,400,000 | |||||
Stock Option Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Options outstanding | 45,000,000 | 45,000,000 | ||||
Number of options currently exercisable | 90,000,000 | 90,000,000 | ||||
Directors officers employees consultants and advisors [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock options granted | 90,000,000 | |||||
Stock options payment award | 90,000,000 | |||||
Weighted average exercise price | $ 0.025 | |||||
Contractual term | 5 years | |||||
Warrant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Risk free interest rate | 1.59% | 0.00% | ||||
Expected life (in years) | 10 years | 0 years | ||||
Expected volatility | 184.22% | 0.00% | ||||
Expected dividend yield | 0.00% | 0.00% | ||||
Share issued granded , price per share | $ 0.018 | |||||
Common Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Warrant shares | 621,470,562 | 621,470,562 | 621,470,562 | |||
Warrant per share | $ 0.021 | $ 0.021 | $ 0.021 | |||
Warrant term | 10 years | 10 years | 10 years | |||
Compensation cost |
CONTINGENT LIABILITIES (Details
CONTINGENT LIABILITIES (Details Narrative) - USD ($) | Oct. 06, 2016 | Feb. 29, 2016 | Sep. 30, 2019 | Sep. 30, 2016 |
Board of Directors [Member] | ||||
Loss Contingencies [Line Items] | ||||
Performance bonus percent | 66.67% | 3.00% | ||
Authorized the increase of performance bonus | 10.00% | |||
Director and Several Consultants [Member] | ||||
Loss Contingencies [Line Items] | ||||
Bonus shares | 127,000,000 | |||
Director and Several Consultants [Member] | Restricted from Trading Under Rule 144 [Member] | ||||
Loss Contingencies [Line Items] | ||||
Bonus shares | 60,000,000 | |||
Apple Inc, Verizon Wireless Services LLC, Verizon Communications Inc, AT and T Corp [Member] | ||||
Loss Contingencies [Line Items] | ||||
Damages sought value | $ 7,024,377,876 | |||
Twitter, Inc. [Member] | ||||
Loss Contingencies [Line Items] | ||||
Damages sought value | $ 3,200,000,000 |