Graphene & Solar Technologies Limited (GSTX) 10-K 17 Nov 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2017
Document And Entity Information
Entity Registrant Name	SOLAR QUARTZ TECHNOLOGIES CORPORATION
Entity Central Index Key	1,497,649
Document Type	10-K
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float		$ 214,404,889
Entity Common Stock, Shares Outstanding		225,116,996
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Current assets
Cash and cash equivalents	$ 35	$ 5
Other receivables	966
Total current assets	1,001	5
Total assets	1,001	5
Current liabilities
Accounts payable	48,212	20,217
Due to related party	3,000
Accrued interest payable	36,044	38,571
Accrued liabilities	17,511	10,463
Short term notes payable	85,000	50,000
Other liabilities	92	275
Current portion of notes payable, net of discount $0 and $71,754	70,747	146,937
Total current liabilities	260,606	266,463
Stockholders' deficit
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding
Common stock, $0.00001 par value; 100,000,000 shares authorized; 1,002,134 and 979,109 shares issued and outstanding	1,002	979
Additional paid-in capital	6,318,920	6,318,920
Accumulated deficit	(6,579,527)	(6,586,357)
Total stockholders' deficit	(259,605)	(266,458)
Total liabilities and stockholders' deficit	$ 1,001	$ 5

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Statement of Financial Position [Abstract]
Discount on Note Payable Current portion	$ 0	$ 71,754
Stockholders' equity
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	1,002,134	979,109
Common stock, outstanding shares	1,002,134	979,109

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Revenues
Operating expenses	64,790	109,593
Loss from operations	(64,790)	(109,593)
Other income (expense)
Other income		(23,810)
Interest expense	(12,408)	(31,608)
Other interest costs	(7,074)
Gain on debt extinguishment	91,102	2,576,890
Total other income (expense)	71,620	2,521,472
Net Income (Loss) before income taxes	6,830	2,411,879
Provision for income taxes
Net Income (Loss)	$ 6,830	$ 2,411,879
Income (Loss) per share:
Basic	$ 0	$ 2.90
Diluted	$ 0	$ 2.65
Weighted average shares outstanding	999,392	831,241

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Shares at Sep. 30, 2014	115,243
Beginning Balance, Amount at Sep. 30, 2014	$ 115	$ 5,522,216	$ (9,022,045)	$ (3,499,714)
Return of common stock, Shares	(2,484)
Return of common stock, Amount	$ (2)	2
Cancellation of treasury shares			23,810	23,810
Issuance of shares for debt settlement, Shares	866,350
Issuance of shares for debt settlement, Amount	$ 866	796,702		797,568
Net Income			2,411,879	2,411,879
Ending Balance, Shares at Sep. 30, 2015	979,109
Ending Balance, Amount at Sep. 30, 2015	$ 979	6,318,920	(6,586,357)	(266,458)
Beginning Balance, Shares at Sep. 30, 2015	979,109
Beginning Balance, Amount at Sep. 30, 2015	$ 979	6,318,920	(6,586,357)	(266,458)
Beginning Balance, Shares at Sep. 30, 2015	979,109
Beginning Balance, Amount at Sep. 30, 2015	$ 979	6,318,920	(6,586,357)	(266,458)
Beginning Balance, Shares at Sep. 30, 2015	979,109
Beginning Balance, Amount at Sep. 30, 2015	$ 979	6,318,920	(6,586,357)	(266,458)
Issuance of shares for debt settlement, Shares	23,025
Issuance of shares for debt settlement, Amount	$ 23			23
Net Income			6,830	6,830
Ending Balance, Shares at Sep. 30, 2016	1,002,134
Ending Balance, Amount at Sep. 30, 2016	$ 1,002	6,318,920	(6,579,527)	(259,605)
Beginning Balance, Shares at Sep. 30, 2016	1,002,134
Beginning Balance, Amount at Sep. 30, 2016	$ 1,002	6,318,920	(6,579,527)	(259,605)
Beginning Balance, Shares at Sep. 30, 2016	1,002,134
Beginning Balance, Amount at Sep. 30, 2016	$ 1,002	$ 6,318,920	$ (6,579,527)	$ (259,605)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net Income (loss)	$ 6,830	$ 2,411,879
Adjustments to reconcile net income/(loss) to net cash from operating activities:
Interest expense	19,455	31,608
Cancellation of treasury shares		23,810
Amortization of debt issuance costs
Gain on debt extinguishment	(91,102)	(2,576,890)
Other receivables	(966)	12,500
Accounts payable	27,995	25,605
Due to related party	3,000
Accrued liabilities		(9,432)
Other liabilities	(183)	(8,325)
Net cash from operating activities	(34,970)	(89,246)
Cash flows from financing activities
Issuance of short term note payable	35,000	50,000
Net cash from financing activities	35,000	50,000
Net change in cash and cash equivalents	30	(39,246)
Cash and cash equivalents
Beginning of period	5	39,251
End of period	35	5
Amounts paid during the year for:
Interest
Income taxes
Supplemental cash flow information Noncash investing and financing activities:
Issuance of shares for settlement of debt	$ 23,017	$ 866,323

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
1 . BASIS OF PRESENTATION	These consolidated audited financial statements of Solar Quartz Technologies Corporation (Solar Quartz or the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). In the opinion of management, these financials statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the interim periods. Certain information, accounting policies and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to Securities and Exchange Commission (SEC) rules and regulations. The sale of the Company’s oil and gas properties, as explained in Note 3, raised substantial doubt of the Company to continue as a going concern. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
2 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Principles of Consolidation and Basis of Presentation The Company's fiscal year-end is September 30. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to the accounting and disclosure rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). A summary of the significant accounting policies applied in the preparation of the accompanying financial statements follows Cash and Cash Equivalents Debt Issuance Costs Conversion Feature Liability and Warrant Liabilities Stock-Based Compensation Income Taxes Uncertain tax positions are recognized in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company is required to file federal income tax returns in the United States and in various state and local jurisdictions. The Company's tax returns filed since inception are subject to examination by taxing authorities in the jurisdictions in which it operates in accordance with the normal statutes of limitations in the applicable jurisdiction. Earnings Per Share Reclassifications Recently Issued Accounting Pronouncements Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or price paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in determining fair value are classified for disclosure purposes according to a hierarchy that prioritizes those inputs based upon the degree to which they are observable. The three levels of the fair-value-measurement hierarchy are as follows: · Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. · Level 2—Inputs that reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the asset or the liability; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. · Level 3—Unobservable inputs reflecting the Company's own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. In determining fair value, the Company utilizes observable market data when available, or models that incorporate observable market data. In addition to market information, the Company incorporates transaction-specific details that, in management's judgment, market participants would take into account in measuring fair value. The Company utilizes the most observable inputs available for the valuation technique employed. If a fair value measurement reflects inputs at multiple levels within the hierarchy, the fair-value measurement of both financial and nonfinancial assets and liabilities are characterized based upon the lowest level of input that is significant to the fair value measurement.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
3 . SUBSEQUENT EVENT	On July 1, 2017 the company acquired all of the shares of Solar Quartz Technologies Limited, a company incorporated in New Zealand (“SQTNZ”). These shares were purchased from Solar Quartz Technologies, Inc. (“SQTI”). We subsequently changed our name to Solar Quartz Technologies Corporation in Colorado and with FINRA, and have also been cleared by FINRA to use the new trading symbol SQTX. During July 2017 the Company issued 213,402,755 new shares of common stock to SQTI in exchange for 122 (100%) of the common shares of SQTNZ. The issuance of these shares was equivalent to 95% of the Company's shares issued, after we issue in the future an additional 10,021,224 shares of common stock to those holders of our common stock immediately prior to the acquisition. The Company does not anticipate any further reorganization of its common stock. We plan to apply to trade on the more senior OTCQX exchange or NASDAQ. SQTNZ is a corporation that has no prior business activity other than being the title owner of the exclusive mining and development rights for two High Purity Quartz (HPQ) Silica deposits known as Quartz Hill (represented by leases ML 30235, ML 30236 and ML 30237) and White Springs (represented by leases ML 30238 and ML 30239) located in North Queensland, Australia. Together they contain deposits in excess of 15 million tons of 99% pure High Purity Quartz which is feedstock in high demand in the marketplace to be used in the production of High Purity Quartz Sand (HPQS) according to independent professional reports. HPQS is an essential primary material for the manufacture of: Photo-Voltaic (PV) solar panels; Semiconductors; all High-end Electronic products; Fiber Optical cables; Halogen Lamps; HD and LCD television screens; and Epoxy Mounding Compounds (EMC).

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
4 . INCOME TAXES	The Company operates in the United States; accordingly, federal and state income taxes have been provided based upon the tax laws and rates of the U.S. The Company has incurred losses since inception and, accordingly has a net operating loss carry forward as of September 30, 2016, of approximately $5,756,365. Since the Company has, on a cumulative basis, experienced net losses for tax purposes, the provisions for income taxes consists of the following: Description 2016 2015 Tax provision at expected tax rate (35%) $ 2,391 $ 149,083 Impact of permanent differences - 500 Increase (decrease) to valuation allowance (2,391 ) (149,583 ) Income tax provision $ - $ -

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
5. STOCKHOLDERS EQUITY	Preferred Stock Common Stock Treasury Stock Common shares of 866,350 and 23,025 were issued in conjunction with the settlement of debt during the years ended September 30, 2016 and 2015, respectively, resulting in increases to common stock of $866 and $23, respectively and additional paid-in capital of $796,702 and $0, respectively.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
6. STOCK-BASED COMPENSATION	On January 10, 2011, the Board of Directors approved a Non-Qualified Stock Option Plan (the "Plan") which authorizes the issuance of up to 1,500,000 shares of Company common stock to persons that exercise options granted pursuant to the Plan. The Company's employees, directors, officers, consultants and advisors are eligible to be granted options pursuant to the Plan, provided however, that bona fide services must be rendered by such consultants or advisors, and such services must not be in connection with the offer or sale of securities in a capital-raising transaction. As of September 30, 2017, no options were outstanding.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
7. COMMITMENTS AND CONTINGENCIES	Office Lease Contractual Obligations Total 2016 Thereafter Convertible notes $ 70,747 $ 70,747 - Notes Payable $ 85,000 $ 85,000 - The Company has contractual capital commitments outstanding in the principal balance of $70,474 at September 30, 2016. Accrued interest of $36,044 is due in addition to the principal balance of the Convertible notes.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
8. FAIR VALUE OF FINANCIAL INSTRUMENTS	The following table summarizes the financial liabilities measured at fair value on a recurring basis as of September 30, 2016 and 2015: Description Level September 30, 2016 September 30, 2015 Convertible Notes 1 $ 70,474 $ 146,937

INTERIM PERIOD DISCLOSURES

INTERIM PERIOD DISCLOSURES	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
9. INTERIM PERIOD DISCLOSURES	Interim period unaudited disclosures for the years ended September 30, 2017 and 2016 are detailed in the following schedules. The consolidated unaudited balance sheets as of June 30, 2017, March 31, 2017 and December 31, 2016, are detailed below: ASSETS June 30, 2017 March 31, 2017 December 31, 2016 Current Assets (Unaudited) (Unaudited) (Unaudited) Cash and cash equivalents $ 66 $ 68 $ 98 Total current assets 66 68 98 TOTAL ASSETS $ 66 $ 68 $ 98 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current Liabilities Accounts payable $ 62,772 $ 59,013 $ 55,030 Accrued interest payable 44,003 41,350 38,696 Accrued liabilities 23,885 21,761 19,635 Short term notes payable 85,000 85,000 85,000 Other liabilities 92 92 92 Current portion of notes payable, net of discount 70,747 70,747 70,747 Total current assets 286,500 277,963 269,201 Commitments and contingencies - - - Stockholders' Deficit Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding - - - Common stock, $0.00001 par value; 100,000,000 and 50,000,000 shares authorized; 1,002,134 shares issued and outstanding 1,002 1,002 1,002 Additional paid-in capital 6,318,920 6,318,920 6,318,920 Accumulated deficit (6,606,356 ) (6,597,817 ) (6,589,025 ) Total stockholders' deficit (286,434 ) (277,895 ) (269,103 ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 66 $ 68 $ 98 The unaudited consolidated statements of operations for the three and nine-month periods ended June 30, 2016, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30 Nine Months Ended June 30 2017 2016 2017 2016 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 3,788 2,754 12,522 27,549 Total costs and expenses 3,788 2,754 12,522 27,549 Loss from Operations (3,788 ) (2,754 ) (12,522 ) (27,549 ) Other income (expense) Other income 27 - 27 - Interest expense (2,653 ) (2,624 ) (7,959 ) (11,004 ) Other interest costs (2,125 ) (2,096 ) (6,375 ) (3,699 ) Gain on debt extinguishment - - - 91,102 Total other income (expense) (4,751 ) (4,720 ) (14,307 ) 76,399 Net Income (Loss) before income taxes (8,539 ) (7,474 ) (26,829 ) 48,850 Provision for income taxes - - - - Net Income (Loss) $ (8,539 ) $ (7,474 ) $ (26,829 ) $ 48,850 Income (Loss) per share: Basic and diluted $ (0.01 ) $ (0.02 ) $ (0.03 ) $ 0.05 Weighted average shares outstanding 1,002,134 1,002,134 1,002,134 1,002,134 The unaudited consolidated statements of operations for the three and six-month periods ended March 31, 2016, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31 Six Months Ended March 31 2017 2016 2017 2016 Revenue (Unaudited) (Unaudited) (Unaudited) (Unaudited) Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 4,014 20,563 8,734 24,795 Total costs and expenses 4,014 20,563 8,734 24,795 Loss from Operations (4,014 ) (20,563 ) (8,734 ) (24,795 ) Other income (expense) Interest expense (2,653 ) (2,854 ) (5,306 ) (7,131 ) Other interest costs (2,125 ) (1,603 ) (4,250 ) (2,852 ) Gain on debt extinguishment - 43,382 - 91,102 Total other income (expense) (4,778 ) 38,925 (9,556 ) 81,119 Net Income (Loss) before income taxes (8,792 ) 18,362 (18,290 ) 56,324 Provision for income taxes - - - - Net Income (Loss) $ (8,792 ) $ 18,362 $ (18,290 ) $ 56,324 Income (Loss) per share: Basic and diluted $ (0.01 ) $ 0.02 $ (0.02 ) $ 0.06 Weighted average shares outstanding 1,002,134 1,002,134 1,002,134 1,002,134 The unaudited consolidated statements of operations for the three-month periods ended March 31, 2016 and 2015, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended December 31 2016 2015 Revenue (Unaudited) (Unaudited) Oil and gas sales $ - $ - Costs and expenses General and administrative 4,720 4,232 Total costs and expenses 4,720 4,232 Loss from Operations (4,720 ) (4,232 ) Other income (expense) Interest expense (2,653 ) (4,276 ) Other interest costs (2,125 ) (1,250 ) Gain on debt extinguishment - 47,720 Total other income (expense) (4,778 ) 42,194 Net Income (Loss) before income taxes (9,498 ) 37,962 Provision for income taxes - - Net Income (Loss) $ (9,498 ) $ 37,962 Income (Loss) per share: Basic and diluted $ (0.01 ) $ 0.04 Weighted average shares outstanding 831,241 991,119 The unaudited consolidated statements of cash flow for the three and nine-month periods ended June 30, 2017 and 2016, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Nine Months Ended June 30, 2017 2016 (Unaudited) (Unaudited) Cash flows from Operating Activities Net Income (loss) $ (26,829 ) $ 48,850 Adjustments to reconcile net income/(loss) to net cash from operating activities: Gain on debt extinguishment - (76,190 ) Change in operating assets and liabilities: Other assets 966 (966 ) Accounts payable 8,560 (6,217 ) Due to related party 3,000 Accrued interest payable 7,959 (5,180 ) Accrued liabilities 6,374 4,923 Other liabilities 0 (183 ) Net cash from operating activities 31 (34,963 ) Cash Flows from Financing Activities Issuance of common stock - 23 Issuance of short term note payable - 35,000 Net cash from financing activities - 35,023 Net Change in Cash and Cash Equivalents 31 60 Cash and Cash Equivalents Beginning of period 35 5 End of period $ 66 $ 65 The unaudited consolidated statements of cash flow for the three and six-month periods ended March 31, 2017 and 2016, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Six Months Ended March 31, 2017 2016 Cash flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ (67,784 ) $ 56,324 Adjustments to reconcile net income/(loss) to net cash from operating activities: Gain on debt extinguishment - (76,190 ) Change in operating assets and liabilities: Accounts payable 39,030 (234 ) Accrued interest payable 10,584 (7,805 ) Accrued liabilities 8,471 2,827 Other liabilities (208 ) 25 Net cash from operating activities (9,907 ) (25,053 ) Cash Flows from Financing Activities Issuance of common stock - 23 Issuance of short term note payable - 35,000 Net cash from financing activities - 35,023 Net Change in Cash and Cash Equivalents (9,907 ) 9,970 Cash and Cash Equivalents Beginning of period 9,975 5 End of period $ 68 $ 9,975 The unaudited consolidated statements of cash flow for the three and three-month periods ended December 31, 2016 and 2015, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Three Months Ended December 31 2016 2015 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ (9,498 ) $ 37,962 Adjustments to reconcile net income/(loss) to net cash from operating activities: Gain on debt extinguishment - (39,909 ) Change in operating assets and liabilities: Other assets 966 - Accounts payable 818 3,586 Due to Related Party 3,000 Accrued interest payable 2,652 (3,547 ) Accrued liabilities 2,124 1,250 Other liabilities - 410 Net Cash from Operating Activities 63 (248 ) Cash Flows from Financing Activities Issuance of common stock - 12 Net Cash from Financing Activities - 12 Net Change in Cash and Cash Equivalents 63 (236 ) Cash and Cash Equivalents Beginning of period 35 5 End of period $ 98 $ (231 ) The consolidated unaudited balance sheets as of June 30, 2016, March 31, 2016 and December 31, 2015, are detailed below: UNAUDITED CONSOLIDATED BALANCE SHEETS ASSETS June 30, 2016 March 31, 2016 December 31, 2015 (Unaudited) (Unaudited) (Unaudited) Current Assets Cash and cash equivalents $ 65 $ 9,975 $ - Other receivables 966 - - Total current assets 1,031 9,975 - Debt issuance costs - - - TOTAL ASSETS $ 1,031 $ 9,975 $ - LIABILITIES AND STOCKHOLDERS’ DEFICIT Current Liabilities Accounts payable $ 14,000 $ 19,983 $ 23,253 Bank overdraft - - 231 Accrued interest payable 33,391 30,766 35,024 Accrued liabilities 15,386 13,290 11,713 Short term notes payable 85,000 85,000 50,000 Other liabilities 92 300 685 Current portion of notes payable, net of discount $- and $71,754 70,747 70,747 107,028 TOTAL CURRENT LIABILITIES 218,616 220,086 227,934 Commitments and contingencies - - - STOCKHOLDERS’ DEFICIT Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding - - - Common stock, $0.00001 par value; 100,000,000 and 50,000,000 shares authorized; 1,002,134 and 979,109 shares issued and outstanding 1,002 1,002 991 Additional paid-in capital 6,318,920 6,318,920 6,318,920 Accumulated deficit (6,537,507 ) (6,530,033 ) (6,547,845 ) Total stockholders' deficit (217,585 ) (210,111 ) (227,934 ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,031 $ 9,975 $ - The unaudited consolidated statements of operations for the three and nine-month periods ended June 30, 2016 and 2015, are detailed in the following schedules: CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30 Nine Months Ended June 30 2016 2015 2016 2015 (Unaudited) (Unaudited) (Unaudited) (Unaudited) REVENUE Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 2,754 11,005 27,549 90,419 Total costs and expenses 2,754 11,005 27,549 90,419 Loss from Operations (2,754 ) (11,005 ) (27,549 ) (90,419 ) Other Income (Expense) Other income - - - - Interest income - - - - Interest expense (2,624 ) (5,510 ) (11,004 ) (24,161 ) Other interest costs (2,096 ) - (3,699 ) - Gain on debt extinguishment - - 91,102 2,570,926 Total other income (expense) (4,720 ) (5,510 ) 76,399 2,546,765 Net Income (Loss) before income taxes (7,474 ) (5,500 ) 48,850 2,456,346 Provision for income taxes - - - - Net Income (Loss) $ (7,474 ) $ (16,515 ) $ 48,850 $ 2,456,346 Income (Loss) per share: Basic and diluted $ 0.02 $ (0.02 ) 0.06 $ 2.52 Weighted average shares outstanding 1,002,134 973,139 996,650 973,139 The unaudited consolidated statements of operations for the three and six-month periods ended March 31, 2016 and 2015, are detailed in the following schedules: CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31 Six Months Ended March 31 2016 2015 2016 2015 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 21,113 11,005 24,795 98,035 Total costs and expenses 21,113 11,005 24,795 98,035 Loss from Operations (21,113 ) (11,005 ) (24,795 ) (98,035 ) Other Income (Expense) Interest expense (2,854 ) (5,510 ) (7,131 ) (18,650 ) Other interest costs (1,603 ) - (2,852 ) - Gain on debt extinguishment 43,382 - 91,102 2,570,926 Total other income (expense) 38,925 (5,510 ) 81,119 2,552,276 Net Income (Loss) before income taxes 17,812 (5,500 ) 56,324 2,454,241 Provision for income taxes - - - - Net Income (Loss) $ 17,812 $ (16,515 ) $ 56,324 $ 2,454,241 Income (Loss) per share: Basic and diluted $ 0.02 $ (0.02 ) $ 0.06 $ 2.52 Weighted average shares outstanding 1,002,134 973,139 996,650 973,139 The unaudited consolidated statements of operations for the three and six-month periods ended March 31, 2016 and 2015, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended December 31 2015 2014 Revenue (Unaudited) (Unaudited) Oil and gas sales $ - $ - Costs and expenses General and administrative 3,682 87,030 Total costs and expenses 3,682 87,030 Loss from Operations (3,682 ) (87,030 ) Other Income (Expense) Interest expense (5,526 ) (13,140 ) Gain from extinguishment of debt 47,720 2,570,927 Total other income (expense) 42,194 2,557,787 Net Income (Loss) before income taxes 38,512 2,470,757 Provision for income taxes - - Net Income (Loss) $ 38,512 $ 2,470,757 Income (Loss) per share: Basic and diluted $ 0.04 $ 2.54 Weighted average shares outstanding (2) 989,291 973,139 The unaudited consolidated statements of cash flow for the nine-month periods ended June 30, 2016 and 2015, are detailed in the following schedules: CONSOLIDATED STATEMENT OF CASH FLOWS Nine Months Ended June 30, 2016 2015 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ 48,850 $ 2,456,346 Adjustments to reconcile net income/(loss) to net cash from operating activities: Amortization of debt issuance costs - 4,107 Gain on debt extinguishment (76,190 ) (2,677,698 ) Amortization of debt discount - 3,523 Change in operating assets and liabilities: Other assets (966 ) 12,500 Accounts payable (6,217 ) 8,813 Accrued interest payable (5,180 ) 105,341 Accrued liabilities 4,923 - Other liabilities (183 ) - Net Cash from Operating Activities (34,963 ) (87,068 ) Cash Flows from Financing Activities Issuance of common stock 23 - Issuance of short term note payable 35,000 50,000 Net Cash from Financing Activities 35,023 50,000 Net Change in Cash and Cash Equivalents 60 (37,068 ) Cash and Cash Equivalents Beginning of period 5 39,251 End of period $ 65 $ 2,183 The unaudited consolidated statements of cash flow for the three and six-month periods ended March 31, 2016 and 2015, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Six Month Ended March 31, 2016 2015 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ 56,324 $ 2,454,241 Adjustments to reconcile net income/(loss) to net cash from operating activities: Amortization of debt issuance costs - 4,107 Gain on debt extinguishment (76,190 ) (2,677,698 ) Amortization of debt discount - 3,523 Change in operating assets and liabilities: Other assets - 12,500 Accounts payable (234 ) 55,945 Accrued interest payable (7,805 ) 99,831 Accrued liabilities 2,827 - Other liabilities 25 8,332 Net Cash from Operating Activities (25,053 ) (39,219 ) Cash Flows from Investing Activities Capital expenditures on oil and gas properties - - Net Cash from Investing Activities - - Cash Flows from Financing Activities Issuance of common stock 23 - Issuance of short term note payable 35,000 - Net Cash from Financing Activities 35,023 - Net Change in Cash and Cash Equivalents 9,970 (39,219 ) Cash and Cash Equivalents Beginning of period 5 39,251 End of period $ 9,975 $ 32 The unaudited consolidated statements of cash flow for the three-month periods ended December 31, 2016 and 2015, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Three Month Ended December 31, 2015 2014 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ 38,512 $ 2,470,757 Adjustments to reconcile net income/(loss) to net cash from operating activities: Amortization of debt issuance costs - 4,107 Gain on debt extinguishment - (2,677,698 ) Amortization of debt discount (39,897 ) 3,523 Change in operating assets and liabilities: Other assets - 12,500 Accounts payable 3,036 46,127 Accrued interest payable (3,547 ) 94,321 Accrued liabilities 1,250 - Other liabilities 410 7,232 Net Cash from Operating Activities (236 ) (39,131 ) Cash Flows from Investing Activities Purchase of furniture and equipment - - Capital expenditures on oil and gas properties - - Net Cash from Investing Activities - - Cash Flows from Financing Activities Repayment of note payable - - Net Cash from Financing Activities - - Net Change in Cash and Cash Equivalents (236 ) (39,131 ) Cash and Cash Equivalents Beginning of period 5 39,251 End of period $ (231 ) $ 120

SUMMARY OF SIGNIFICANT ACCOUN16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2016
Summary Of Significant Accounting Policies Policies
Principles of Consolidation and Basis of Presentation	The consolidated financial statements include the accounts of Solar Quartz Technologies Corporation and its subsidiaries. Solar Quartz’s significant accounting policies are consistent with those discussed in the audited financial statements as of September 30, 2016 and 2015. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company's fiscal year-end is September 30. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to the accounting and disclosure rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). A summary of the significant accounting policies applied in the preparation of the accompanying financial statements follows
Cash and Cash Equivalents	The Company considers all highly liquid instruments purchased with a maturity date of three months or less to be cash equivalents.
Debt Issuance Costs	Costs incurred in connection with the issuance of long-term debt are capitalized and amortized over the term of the related debt.
Conversion Feature Liability and Warrant Liabilities	The conversion feature liability and warrant liabilities are recorded at fair value based upon valuation models utilizing relevant factors such as expected life, estimated volatility, risk-free interest and expected dividend rate. Changes in the fair value of these liabilities are reported in the statements of operations.
Stock-Based Compensation	The Company accounts for employee stock-based compensation using the fair value method. The fair value attributable to stock options is calculated based on the Black-Scholes option pricing model and is amortized to expense over the service period which is equivalent to the time required to vest the stock options.
Income Taxes	Income taxes are provided based on the liability method for financial reporting purposes. Under this method deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred income tax assets to the amount expected to be realized. Uncertain tax positions are recognized in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. The Company is required to file federal income tax returns in the United States and in various state and local jurisdictions. The Company's tax returns filed since inception are subject to examination by taxing authorities in the jurisdictions in which it operates in accordance with the normal statutes of limitations in the applicable jurisdiction.
Earnings Per Share	Basic earnings per share have been calculated based upon the weighted-average number of common shares outstanding. Diluted earnings per share have been calculated based upon the weighted-average number of common and potential shares.
Reclassifications	Certain amounts previously presented for prior periods have been reclassified to conform to the current presentation. The reclassifications had no effect on net loss, working capital or equity previously reported.
Recently Issued Accounting Pronouncements	Various accounting standards updates have been recently issued, most of which represented technical corrections to the accounting literature or were applicable to specific industries. No new accounting pronouncements have been issued that are likely to have a material impact to the Company’s consolidated financial statements.
Fair Value Measurements	The carrying value of cash and cash equivalents, accounts receivable, and accounts payable, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. The estimated fair value of long-term debt was determined by discounting future cash flows using rates currently available to the Company for debt with similar terms and remaining maturities. The Company calculated that the estimated fair value of the long-term debt is not significantly different than the carrying value of the debt. The participation liability associated with outstanding long-term debt was determined by utilizing a present value factor of 10 applied to proved developed reserves associated with the wells drilled with the proceeds of the notes. Fair value is defined as the price that would be received to sell an asset or price paid to transfer a liability in an orderly transaction between market participants at the measurement date. Inputs used in determining fair value are classified for disclosure purposes according to a hierarchy that prioritizes those inputs based upon the degree to which they are observable. The three levels of the fair-value-measurement hierarchy are as follows: · Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. · Level 2—Inputs that reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the asset or the liability; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. · Level 3—Unobservable inputs reflecting the Company's own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. In determining fair value, the Company utilizes observable market data when available, or models that incorporate observable market data. In addition to market information, the Company incorporates transaction-specific details that, in management's judgment, market participants would take into account in measuring fair value. The Company utilizes the most observable inputs available for the valuation technique employed. If a fair value measurement reflects inputs at multiple levels within the hierarchy, the fair-value measurement of both financial and nonfinancial assets and liabilities are characterized based upon the lowest level of input that is significant to the fair value measurement.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2016
Income Taxes Tables
Schedule for the provision for income taxes	Description 2016 2015 Tax provision at expected tax rate (35%) $ 2,391 $ 149,083 Impact of permanent differences - 500 Increase (decrease) to valuation allowance (2,391 ) (149,583 ) Income tax provision $ - $ -

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Tables
Schedule of Contractual Obligation	Total 2016 Thereafter Convertible notes $ 70,747 $ 70,747 - Notes Payable $ 85,000 $ 85,000 -

FAIR VALUE OF FINANCIAL INSTR19

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Sep. 30, 2016
Fair Value Of Financial Instruments Tables
Schedule of financial liabilities measured at fair value	The following table summarizes the financial liabilities measured at fair value on a recurring basis as of September 30, 2016 and 2015: Description Level September 30, 2016 September 30, 2015 Convertible Notes 1 $ 70,474 $ 146,937

INTERIM PERIOD DISCLOSURES (Tab

INTERIM PERIOD DISCLOSURES (Tables)	12 Months Ended
	Sep. 30, 2016
Interim Period Disclosures Tables
Schedule of interim period unaudited disclosures	The consolidated unaudited balance sheets as of June 30, 2017, March 31, 2017 and December 31, 2016, are detailed below: ASSETS June 30, 2017 March 31, 2017 December 31, 2016 Current Assets (Unaudited) (Unaudited) (Unaudited) Cash and cash equivalents $ 66 $ 68 $ 98 Total current assets 66 68 98 TOTAL ASSETS $ 66 $ 68 $ 98 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current Liabilities Accounts payable $ 62,772 $ 59,013 $ 55,030 Accrued interest payable 44,003 41,350 38,696 Accrued liabilities 23,885 21,761 19,635 Short term notes payable 85,000 85,000 85,000 Other liabilities 92 92 92 Current portion of notes payable, net of discount 70,747 70,747 70,747 Total current assets 286,500 277,963 269,201 Commitments and contingencies - - - Stockholders' Deficit Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding - - - Common stock, $0.00001 par value; 100,000,000 and 50,000,000 shares authorized; 1,002,134 shares issued and outstanding 1,002 1,002 1,002 Additional paid-in capital 6,318,920 6,318,920 6,318,920 Accumulated deficit (6,606,356 ) (6,597,817 ) (6,589,025 ) Total stockholders' deficit (286,434 ) (277,895 ) (269,103 ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 66 $ 68 $ 98 The unaudited consolidated statements of operations for the three and nine-month periods ended June 30, 2016, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30 Nine Months Ended June 30 2017 2016 2017 2016 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 3,788 2,754 12,522 27,549 Total costs and expenses 3,788 2,754 12,522 27,549 Loss from Operations (3,788 ) (2,754 ) (12,522 ) (27,549 ) Other income (expense) Other income 27 - 27 - Interest expense (2,653 ) (2,624 ) (7,959 ) (11,004 ) Other interest costs (2,125 ) (2,096 ) (6,375 ) (3,699 ) Gain on debt extinguishment - - - 91,102 Total other income (expense) (4,751 ) (4,720 ) (14,307 ) 76,399 Net Income (Loss) before income taxes (8,539 ) (7,474 ) (26,829 ) 48,850 Provision for income taxes - - - - Net Income (Loss) $ (8,539 ) $ (7,474 ) $ (26,829 ) $ 48,850 Income (Loss) per share: Basic and diluted $ (0.01 ) $ (0.02 ) $ (0.03 ) $ 0.05 Weighted average shares outstanding 1,002,134 1,002,134 1,002,134 1,002,134 The unaudited consolidated statements of operations for the three and six-month periods ended March 31, 2016, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31 Six Months Ended March 31 2017 2016 2017 2016 Revenue (Unaudited) (Unaudited) (Unaudited) (Unaudited) Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 4,014 20,563 8,734 24,795 Total costs and expenses 4,014 20,563 8,734 24,795 Loss from Operations (4,014 ) (20,563 ) (8,734 ) (24,795 ) Other income (expense) Interest expense (2,653 ) (2,854 ) (5,306 ) (7,131 ) Other interest costs (2,125 ) (1,603 ) (4,250 ) (2,852 ) Gain on debt extinguishment - 43,382 - 91,102 Total other income (expense) (4,778 ) 38,925 (9,556 ) 81,119 Net Income (Loss) before income taxes (8,792 ) 18,362 (18,290 ) 56,324 Provision for income taxes - - - - Net Income (Loss) $ (8,792 ) $ 18,362 $ (18,290 ) $ 56,324 Income (Loss) per share: Basic and diluted $ (0.01 ) $ 0.02 $ (0.02 ) $ 0.06 Weighted average shares outstanding 1,002,134 1,002,134 1,002,134 1,002,134 The unaudited consolidated statements of operations for the three-month periods ended March 31, 2016 and 2015, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended December 31 2016 2015 Revenue (Unaudited) (Unaudited) Oil and gas sales $ - $ - Costs and expenses General and administrative 4,720 4,232 Total costs and expenses 4,720 4,232 Loss from Operations (4,720 ) (4,232 ) Other income (expense) Interest expense (2,653 ) (4,276 ) Other interest costs (2,125 ) (1,250 ) Gain on debt extinguishment - 47,720 Total other income (expense) (4,778 ) 42,194 Net Income (Loss) before income taxes (9,498 ) 37,962 Provision for income taxes - - Net Income (Loss) $ (9,498 ) $ 37,962 Income (Loss) per share: Basic and diluted $ (0.01 ) $ 0.04 Weighted average shares outstanding 831,241 991,119 The unaudited consolidated statements of cash flow for the three and nine-month periods ended June 30, 2017 and 2016, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Nine Months Ended June 30, 2017 2016 (Unaudited) (Unaudited) Cash flows from Operating Activities Net Income (loss) $ (26,829 ) $ 48,850 Adjustments to reconcile net income/(loss) to net cash from operating activities: Gain on debt extinguishment - (76,190 ) Change in operating assets and liabilities: Other assets 966 (966 ) Accounts payable 8,560 (6,217 ) Due to related party 3,000 Accrued interest payable 7,959 (5,180 ) Accrued liabilities 6,374 4,923 Other liabilities 0 (183 ) Net cash from operating activities 31 (34,963 ) Cash Flows from Financing Activities Issuance of common stock - 23 Issuance of short term note payable - 35,000 Net cash from financing activities - 35,023 Net Change in Cash and Cash Equivalents 31 60 Cash and Cash Equivalents Beginning of period 35 5 End of period $ 66 $ 65 The unaudited consolidated statements of cash flow for the three and six-month periods ended March 31, 2017 and 2016, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Six Months Ended March 31, 2017 2016 Cash flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ (67,784 ) $ 56,324 Adjustments to reconcile net income/(loss) to net cash from operating activities: Gain on debt extinguishment - (76,190 ) Change in operating assets and liabilities: Accounts payable 39,030 (234 ) Accrued interest payable 10,584 (7,805 ) Accrued liabilities 8,471 2,827 Other liabilities (208 ) 25 Net cash from operating activities (9,907 ) (25,053 ) Cash Flows from Financing Activities Issuance of common stock - 23 Issuance of short term note payable - 35,000 Net cash from financing activities - 35,023 Net Change in Cash and Cash Equivalents (9,907 ) 9,970 Cash and Cash Equivalents Beginning of period 9,975 5 End of period $ 68 $ 9,975 The unaudited consolidated statements of cash flow for the three and three-month periods ended December 31, 2016 and 2015, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Three Months Ended December 31 2016 2015 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ (9,498 ) $ 37,962 Adjustments to reconcile net income/(loss) to net cash from operating activities: Gain on debt extinguishment - (39,909 ) Change in operating assets and liabilities: Other assets 966 - Accounts payable 818 3,586 Due to Related Party 3,000 Accrued interest payable 2,652 (3,547 ) Accrued liabilities 2,124 1,250 Other liabilities - 410 Net Cash from Operating Activities 63 (248 ) Cash Flows from Financing Activities Issuance of common stock - 12 Net Cash from Financing Activities - 12 Net Change in Cash and Cash Equivalents 63 (236 ) Cash and Cash Equivalents Beginning of period 35 5 End of period $ 98 $ (231 ) The consolidated unaudited balance sheets as of June 30, 2016, March 31, 2016 and December 31, 2015, are detailed below: UNAUDITED CONSOLIDATED BALANCE SHEETS ASSETS June 30, 2016 March 31, 2016 December 31, 2015 (Unaudited) (Unaudited) (Unaudited) Current Assets Cash and cash equivalents $ 65 $ 9,975 $ - Other receivables 966 - - Total current assets 1,031 9,975 - Debt issuance costs - - - TOTAL ASSETS $ 1,031 $ 9,975 $ - LIABILITIES AND STOCKHOLDERS’ DEFICIT Current Liabilities Accounts payable $ 14,000 $ 19,983 $ 23,253 Bank overdraft - - 231 Accrued interest payable 33,391 30,766 35,024 Accrued liabilities 15,386 13,290 11,713 Short term notes payable 85,000 85,000 50,000 Other liabilities 92 300 685 Current portion of notes payable, net of discount $- and $71,754 70,747 70,747 107,028 TOTAL CURRENT LIABILITIES 218,616 220,086 227,934 Commitments and contingencies - - - STOCKHOLDERS’ DEFICIT Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued or outstanding - - - Common stock, $0.00001 par value; 100,000,000 and 50,000,000 shares authorized; 1,002,134 and 979,109 shares issued and outstanding 1,002 1,002 991 Additional paid-in capital 6,318,920 6,318,920 6,318,920 Accumulated deficit (6,537,507 ) (6,530,033 ) (6,547,845 ) Total stockholders' deficit (217,585 ) (210,111 ) (227,934 ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,031 $ 9,975 $ - The unaudited consolidated statements of operations for the three and nine-month periods ended June 30, 2016 and 2015, are detailed in the following schedules: CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30 Nine Months Ended June 30 2016 2015 2016 2015 (Unaudited) (Unaudited) (Unaudited) (Unaudited) REVENUE Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 2,754 11,005 27,549 90,419 Total costs and expenses 2,754 11,005 27,549 90,419 Loss from Operations (2,754 ) (11,005 ) (27,549 ) (90,419 ) Other Income (Expense) Other income - - - - Interest income - - - - Interest expense (2,624 ) (5,510 ) (11,004 ) (24,161 ) Other interest costs (2,096 ) - (3,699 ) - Gain on debt extinguishment - - 91,102 2,570,926 Total other income (expense) (4,720 ) (5,510 ) 76,399 2,546,765 Net Income (Loss) before income taxes (7,474 ) (5,500 ) 48,850 2,456,346 Provision for income taxes - - - - Net Income (Loss) $ (7,474 ) $ (16,515 ) $ 48,850 $ 2,456,346 Income (Loss) per share: Basic and diluted $ 0.02 $ (0.02 ) 0.06 $ 2.52 Weighted average shares outstanding 1,002,134 973,139 996,650 973,139 The unaudited consolidated statements of operations for the three and six-month periods ended March 31, 2016 and 2015, are detailed in the following schedules: CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31 Six Months Ended March 31 2016 2015 2016 2015 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue Oil and gas sales $ - $ - $ - $ - Costs and expenses General and administrative 21,113 11,005 24,795 98,035 Total costs and expenses 21,113 11,005 24,795 98,035 Loss from Operations (21,113 ) (11,005 ) (24,795 ) (98,035 ) Other Income (Expense) Interest expense (2,854 ) (5,510 ) (7,131 ) (18,650 ) Other interest costs (1,603 ) - (2,852 ) - Gain on debt extinguishment 43,382 - 91,102 2,570,926 Total other income (expense) 38,925 (5,510 ) 81,119 2,552,276 Net Income (Loss) before income taxes 17,812 (5,500 ) 56,324 2,454,241 Provision for income taxes - - - - Net Income (Loss) $ 17,812 $ (16,515 ) $ 56,324 $ 2,454,241 Income (Loss) per share: Basic and diluted $ 0.02 $ (0.02 ) $ 0.06 $ 2.52 Weighted average shares outstanding 1,002,134 973,139 996,650 973,139 The unaudited consolidated statements of operations for the three and six-month periods ended March 31, 2016 and 2015, are detailed in the following schedules: UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended December 31 2015 2014 Revenue (Unaudited) (Unaudited) Oil and gas sales $ - $ - Costs and expenses General and administrative 3,682 87,030 Total costs and expenses 3,682 87,030 Loss from Operations (3,682 ) (87,030 ) Other Income (Expense) Interest expense (5,526 ) (13,140 ) Gain from extinguishment of debt 47,720 2,570,927 Total other income (expense) 42,194 2,557,787 Net Income (Loss) before income taxes 38,512 2,470,757 Provision for income taxes - - Net Income (Loss) $ 38,512 $ 2,470,757 Income (Loss) per share: Basic and diluted $ 0.04 $ 2.54 Weighted average shares outstanding (2) 989,291 973,139 The unaudited consolidated statements of cash flow for the three and nine-month periods ended June 30, 2016 and 2015, are detailed in the following schedules: CONSOLIDATED STATEMENT OF CASH FLOWS Nine Months Ended June 30, 2016 2015 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ 48,850 $ 2,456,346 Adjustments to reconcile net income/(loss) to net cash from operating activities: Amortization of debt issuance costs - 4,107 Gain on debt extinguishment (76,190 ) (2,677,698 ) Amortization of debt discount - 3,523 Change in operating assets and liabilities: Other assets (966 ) 12,500 Accounts payable (6,217 ) 8,813 Accrued interest payable (5,180 ) 105,341 Accrued liabilities 4,923 - Other liabilities (183 ) - Net Cash from Operating Activities (34,963 ) (87,068 ) Cash Flows from Financing Activities Issuance of common stock 23 - Issuance of short term note payable 35,000 50,000 Net Cash from Financing Activities 35,023 50,000 Net Change in Cash and Cash Equivalents 60 (37,068 ) Cash and Cash Equivalents Beginning of period 5 39,251 End of period $ 65 $ 2,183 The unaudited consolidated statements of cash flow for the three and six-month periods ended March 31, 2016 and 2015, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Six Month Ended March 31, 2016 2015 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ 56,324 $ 2,454,241 Adjustments to reconcile net income/(loss) to net cash from operating activities: Amortization of debt issuance costs - 4,107 Gain on debt extinguishment (76,190 ) (2,677,698 ) Amortization of debt discount - 3,523 Change in operating assets and liabilities: Other assets - 12,500 Accounts payable (234 ) 55,945 Accrued interest payable (7,805 ) 99,831 Accrued liabilities 2,827 - Other liabilities 25 8,332 Net Cash from Operating Activities (25,053 ) (39,219 ) Cash Flows from Investing Activities Capital expenditures on oil and gas properties - - Net Cash from Investing Activities - - Cash Flows from Financing Activities Issuance of common stock 23 - Issuance of short term note payable 35,000 - Net Cash from Financing Activities 35,023 - Net Change in Cash and Cash Equivalents 9,970 (39,219 ) Cash and Cash Equivalents Beginning of period 5 39,251 End of period $ 9,975 $ 32 The unaudited consolidated statements of cash flow for the three-month periods ended December 31, 2016 and 2015, are detailed in the following schedule: UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS Three Month Ended December 31, 2015 2014 Cash Flows from Operating Activities (Unaudited) (Unaudited) Net Income (loss) $ 38,512 $ 2,470,757 Adjustments to reconcile net income/(loss) to net cash from operating activities: Amortization of debt issuance costs - 4,107 Gain on debt extinguishment - (2,677,698 ) Amortization of debt discount (39,897 ) 3,523 Change in operating assets and liabilities: Other assets - 12,500 Accounts payable 3,036 46,127 Accrued interest payable (3,547 ) 94,321 Accrued liabilities 1,250 - Other liabilities 410 7,232 Net Cash from Operating Activities (236 ) (39,131 ) Cash Flows from Investing Activities Purchase of furniture and equipment - - Capital expenditures on oil and gas properties - - Net Cash from Investing Activities - - Cash Flows from Financing Activities Repayment of note payable - - Net Cash from Financing Activities - - Net Change in Cash and Cash Equivalents (236 ) (39,131 ) Cash and Cash Equivalents Beginning of period 5 39,251 End of period $ (231 ) $ 120

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - shares	1 Months Ended	12 Months Ended
	Jul. 31, 2017	Sep. 30, 2016
Subsequent Event [Member]
Description for High Purity Quartz Silica deposits	Quartz Hill (represented by leases ML 30235, ML 30236 and ML 30237) and White Springs (represented by leases ML 30238 and ML 30239) located in North Queensland, Australia. Together they contain deposits in excess of 15 million tons of 99% pure High Purity Quartz which is feedstock in high demand in the marketplace to be used in the production of High Purity Quartz Sand (HPQS) according to independent professional reports
SQTI [Member] | Subsequent Event [Member]
Business acquisition consideration transferred, shares issued	213,402,755
Business acquisition shares issued or issuable, percentage	95.00%
Additional common stock shares reserved for future issuance	10,021,224
SQTNZ [Member] | Subsequent Event [Member]
Ownership interest acquired	100.00%
Business acquisition, shares acquired from SQTI	122
Solar Quartz Technologies Limited [Member]
State of Incorporation		New Zealand

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Taxes Details 1
Tax provision at expected tax rate	$ 2,391	$ 149,083
Impact of permanent differences		500
Increase (decrease) to valuation allowance	(2,391)	(149,583)
Income tax provision

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Sep. 30, 2016USD ($)
Income Taxes Details
Net operating loss carry forward	$ 5,756,365
Income tax rate	35.00%

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jul. 31, 2017
Preferred stock, authorized shares	5,000,000	5,000,000
Common stock, authorized shares	100,000,000	100,000,000
Common stock, par value	$ 0.00001	$ 0.00001
Treasury shares	14,355
Issuance of shares for debt settlement, Amount	$ 23	$ 797,568
Common Stock
Issuance of shares for debt settlement, Shares	23,025	866,350
Issuance of shares for debt settlement, Amount	$ 23	$ 866
Additional Paid-In Capital
Issuance of shares for debt settlement, Amount		$ 796,702
Subsequent Event [Member]
Preferred stock, authorized shares			10,000,000
Common stock, authorized shares			500,000,000
Common stock, par value			$ 0.00001

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative)	Jan. 10, 2011shares
Non-Qualified Stock Option Plan [Member] | Maximum [Member]
Common stock shares issuable upon exercise of options	1,500,000

COMMITMENTS AND CONTINGENCIES26

COMMITMENTS AND CONTINGENCIES (Details)	Sep. 30, 2016USD ($)
Total	$ 70,474
Convertible Notes [Member]
2,016	70,747
Thereafter
Total	70,747
Notes Payable [Member]
2,016	85,000
Thereafter
Total	$ 85,000

COMMITMENTS AND CONTINGENCIES27

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Contractual capital commitments outstanding amount	$ 70,474
Accrued interest	36,044	$ 38,571
Convertible Notes [Member]
Contractual capital commitments outstanding amount	70,747
Accrued interest	36,044
Woodlands, Texas [Member]
Office Lease periodic payments	$ 197
Frequency of periodic payments	Monthly
Lease description	The Company leases a virtual office lease in The Woodlands, Texas until June 30, 2019 at $197 per month.

FAIR VALUE OF FINANCIAL INSTR28

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Inputs, Level 1 [Member]
Convertible Notes	$ 70,474	$ 146,937

INTERIM PERIOD DISCLOSURES (Det

INTERIM PERIOD DISCLOSURES (Details) - USD ($)	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014
Current assets
Cash and cash equivalents				$ 35				$ 5				$ 39,251
Other receivables				966
Total current assets				1,001				5
Total assets				1,001				5
Current liabilities
Accounts payable				48,212				20,217
Accrued interest payable				36,044				38,571
Accrued liabilities				17,511				10,463
Short term notes payable				85,000				50,000
Other liabilities				92				275
Current portion of notes payable, net of discount $0 and $71,754				70,747				146,937
Total current liabilities				260,606				266,463
Stockholders' deficit
Preferred stock
Common stock				1,002				979
Additional paid-in capital				6,318,920				6,318,920
Accumulated deficit				(6,579,527)				(6,586,357)
Total stockholders' deficit				(259,605)				(266,458)				(3,499,714)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY				1,001				5
Interim Period Disclosures [Member]
Current assets
Cash and cash equivalents	$ 66	$ 68	$ 98	$ 35	$ 65	$ 9,975	$ (231)	$ 5	$ 2,183	$ 32	$ 120	$ 39,251
Other receivables					966
Total current assets	66	68	98		1,031	9,975
Debt issuance costs
Total assets	66	68	98		1,031	9,975
Current liabilities
Accounts payable	62,772	59,013	55,030		14,000	19,983	23,253
Bank overdraft							231
Accrued interest payable	44,003	41,350	38,696		33,391	30,766	35,024
Accrued liabilities	23,885	21,761	19,635		15,386	13,290	11,713
Short term notes payable	85,000	85,000	85,000		85,000	85,000	50,000
Other liabilities	92	92	92		92	300	685
Current portion of notes payable, net of discount $0 and $71,754	70,747	70,747	70,747		70,747	70,747	107,028
Total current liabilities	286,500	277,963	269,201		218,616	220,086	227,934
Commitments and contingencies
Stockholders' deficit
Preferred stock
Common stock	1,002	1,002	1,002		1,002	1,002	991
Additional paid-in capital	6,318,920	6,318,920	6,318,920		6,318,920	6,318,920	6,318,920
Accumulated deficit	(6,606,356)	(6,597,817)	(6,589,025)		(6,537,507)	(6,530,033)	(6,547,845)
Total stockholders' deficit	(286,434)	(277,895)	(269,103)		(217,585)	(210,111)	(227,934)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 66	$ 68	$ 98		$ 1,031	$ 9,975

INTERIM PERIOD DISCLOSURES (D30

INTERIM PERIOD DISCLOSURES (Details 1) - USD ($)	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Costs and expenses
Loss from operations																$ (64,790)	$ (109,593)
Other income (expense)
Other income																	23,810
Interest expense																(19,455)	(31,608)
Gain on debt extinguishment																(91,102)	(2,576,890)
Total other expense																71,620	2,521,472
Provision for income taxes
Net loss																$ 6,830	$ 2,411,879
Weighted average number of common shares																999,392	831,241
Interim Period Disclosures [Member]
Revenues
Oil and gas sales
Costs and expenses
General and administrative	3,788	4,014	4,720	2,754	20,563	4,232	11,005	11,005	87,030	8,734	24,795	98,035	12,522	27,549	90,419
Total costs and expenses	3,788	4,014	4,720	2,754	20,563	4,232	11,005	11,005	87,030	8,734	24,795	98,035	12,522	27,549	90,419
Loss from operations	(3,788)	(4,014)	(4,720)	(2,754)	(20,563)	(4,232)	(11,005)	(11,005)	(87,030)	(8,734)	(24,795)	(98,035)	(12,522)	(27,549)	(90,419)
Other income (expense)
Other income	27												27
Interest income
Interest expense	(2,653)	(2,653)	(2,653)	(2,624)	(2,854)	(4,276)	(5,510)	(5,510)	(13,140)	(5,306)	(7,131)	(18,650)	(7,959)	(11,004)	(24,161)
Other interest costs	(2,125)	(2,125)	(2,125)	(2,096)	(1,603)	(1,250)				(4,250)	(2,852)		(6,375)	(3,699)
Gain on debt extinguishment					43,382	(39,909)			2,570,927		(76,190)	2,570,926		91,102	2,570,926
Total other expense	(4,751)	(4,778)	(4,778)	(4,720)	38,925	42,194	(5,510)	(5,510)	2,557,787	(9,556)	81,119	2,552,276	(14,307)	76,399	2,546,765
Loss before income taxes	(8,539)	(8,792)	(9,498)	(7,474)	18,362	37,962	(5,500)	(5,500)	2,470,757	(18,290)	56,324	2,454,241	(26,829)	48,850	2,456,346
Provision for income taxes
Net loss	$ (8,539)	$ (8,792)	$ (9,498)	$ (7,474)	$ 18,362	$ 37,962	$ (16,515)	$ (16,515)	$ 2,470,757	$ (67,784)	$ 56,324	$ 2,454,241	$ (26,829)	$ 48,850	$ 2,456,346
Loss per share - Basic and diluted	$ (0.01)	$ (0.01)	$ (0.01)	$ (0.02)	$ 0.02	$ 0.04	$ (0.02)	$ (0.02)	$ 2.54	$ (0.02)	$ 0.06	$ 2.52	$ (0.03)	$ 0.05	$ 2.52
Weighted average number of common shares	1,002,134	1,002,134	831,241	1,002,134	1,002,134	991,119	973,139	973,139	973,139	1,002,134	1,002,134	973,139	1,002,134	1,002,134	973,139

INTERIM PERIOD DISCLOSURES (D31

INTERIM PERIOD DISCLOSURES (Details 2) - USD ($)	3 Months Ended									6 Months Ended			9 Months Ended			12 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net Income (loss)																$ 6,830	$ 2,411,879
Adjustments to reconcile net income/(loss) to net cash from operating activities:
Amortization of debt issuance costs
Gain on debt extinguishment																(91,102)	(2,576,890)
Accounts payable																27,995	25,605
Due to related party																3,000
Accrued liabilities																	(9,432)
Other liabilities																(183)	(8,325)
Net cash from operating activities																(34,970)	(89,246)
Cash flows from financing activities
Issuance of short term note payable																35,000	50,000
Net cash from financing activities																35,000	50,000
Net change in cash and cash equivalents																30	(39,246)
Cash and cash equivalents
Beginning of period			$ 35			$ 5			$ 39,251	$ 35	$ 5	$ 39,251	$ 35	$ 5	$ 39,251	5	39,251
End of period																35	5
Interim Period Disclosures [Member]
Cash flows from operating activities
Net Income (loss)	$ (8,539)	$ (8,792)	(9,498)	$ (7,474)	$ 18,362	37,962	$ (16,515)	$ (16,515)	2,470,757	(67,784)	56,324	2,454,241	(26,829)	48,850	2,456,346
Adjustments to reconcile net income/(loss) to net cash from operating activities:
Amortization of debt issuance costs									4,107			4,107			4,107
Gain on debt extinguishment					43,382	(39,909)			2,570,927		(76,190)	2,570,926		91,102	2,570,926
Amortization of debt discount						(39,897)			3,523			3,523
Other assets			966						12,500			12,500	966	(966)	12,500
Accounts payable			818			3,586			46,127	39,030	(234)	55,945	8,560	(6,217)	8,813
Due to related party			3,000										3,000
Accrued interest payable			2,652			(3,547)			94,321	10,584	(7,805)	99,831	7,959	(5,180)	105,341
Accrued liabilities			2,124			1,250				8,471	2,827		6,374	4,923
Other liabilities						410			7,232	(208)	25	8,332	0	(183)
Net cash from operating activities			63			(248)			(39,131)	(9,907)	(25,053)	(39,219)	31	(34,963)	(87,068)
Cash Flows from Investing Activities
Capital expenditures on oil and gas properties
Net Cash from Investing Activities
Cash flows from financing activities
Repayment of note payable
Issuance of common stock						12					23			23
Issuance of short term note payable											35,000			35,000	50,000
Net cash from financing activities						12					35,023			35,023	50,000
Net change in cash and cash equivalents			63			(236)			(39,131)	(9,907)	9,970	(39,219)	31	60	(37,068)
Cash and cash equivalents
Beginning of period	68	98	35	9,975	(231)	5	32	120	39,251	35	5	39,251	35	5	39,251	5	39,251
End of period	$ 66	$ 68	$ 98	$ 65	$ 9,975	$ (231)	$ 2,183	$ 32	$ 120	$ 68	$ 9,975	$ 32	$ 66	$ 65	$ 2,183	$ 35	$ 5