10-K Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001065949-15-000253`
Period End Date	20140430
Filing Date	20151013
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	mihi-20140430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 32 Cash Flow Statement 58 Stockholders Equity 10

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Par Value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory	`InventoryNet`	$93.95K	USD	Point-in-time
Inventory	`InventoryNet`	$193.75K	USD	Point-in-time
Other receivables	`OtherReceivablesGrossCurrent`	$247.72K	USD	Point-in-time
Other receivables	`OtherReceivablesGrossCurrent`	$237.72K	USD	Point-in-time
Par Value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Reserve	`AllowanceForDoubtfulOtherReceivablesCurrent`	$237.72K	USD	Point-in-time
Reserve	`AllowanceForDoubtfulOtherReceivablesCurrent`	$237.72K	USD	Point-in-time
Par Value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total other receivables	`OtherReceivablesNetCurrent`	$10.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$93.98K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$206.38K	USD	Point-in-time
Shares Issued	`CommonStockSharesIssued`	55.89M	shares	Point-in-time
Shares Issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$768.96K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$836.14K	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	55.89M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$628.09K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$526.43K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$242.52K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$208.05K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$18.67K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$8.59K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$310.61K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$467.58K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$700.90K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$656.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$930.98K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$127.04K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$128.84K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$9.43K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$2.00K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$538.58K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.70K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.88K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$160.50K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$216.65K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$480.59K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$442.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	$380.00K	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	$380.00K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 and 55,890,117 shares issued and outstanding on April 30, 2014 and April 30, 2013	`CommonStockValue`	$5.59K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 and 55,890,117 shares issued and outstanding on April 30, 2014 and April 30, 2013	`CommonStockValue`	$5.61K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.72M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.44M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$310.61K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$467.58K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$1.36M	USD	Annual
Sales, net	`Revenues`	$2.12M	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$1.40M	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$1.07M	USD	Annual
Gross profit	`GrossProfit`	$719.89K	USD	Annual
Gross profit	`GrossProfit`	$282.08K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$580.60K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$562.15K	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$99.26K	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$150.09K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-379.33K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-10.81K	USD	Annual
Other income - Gain on debt relief	`OtherNonoperatingIncomeExpense`	$41.25K	USD	Annual
Other income - Gain on debt relief	`OtherNonoperatingIncomeExpense`	$26.80K	USD	Annual
Interest expense	`InterestExpense`	$64.75K	USD	Annual
Interest expense	`InterestExpense`	$74.90K	USD	Annual
Net other Income (expense)	`NonoperatingIncomeExpense`	$-33.65K	USD	Annual
Net other Income (expense)	`NonoperatingIncomeExpense`	$-37.95K	USD	Annual
Income (Loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-417.28K	USD	Annual
Income (Loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-44.45K	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income (Loss) from operations	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Income (Loss) from operations	`NetIncomeLoss`	$-44.45K	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.89M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	56.06M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.89M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.06M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`ProfitLoss`	$-44.45K	USD	Annual
Net Income (loss)	`ProfitLoss`	$-417.28K	USD	Annual
Common stock for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$7.70K	USD	Annual
Common stock for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$7.88K	USD	Annual
Depreciation expenses	`Depreciation`	$91.68K	USD	Annual
Depreciation expenses	`Depreciation`	$101.66K	USD	Annual
Gain on debt relief	`GainsLossesOnExtinguishmentOfDebt`	$-24.87K	USD	Annual
Gain on debt relief	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on sale of asset	`GainLossOnDispositionOfAssets`	$-224.00	USD	Annual
Loss on sale of asset	`GainLossOnDispositionOfAssets`	-	USD	Annual
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$-10.00K	USD	Annual
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-99.80K	USD	Annual
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-30.82K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$44.00K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-52.65K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$251.03K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$288.80K	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$109.69K	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-536.58K	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-10.09K	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$9.21K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$454.17K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$25.64K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-18.82K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$36.89K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$37.30K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$67.18K	USD	Annual
Sale of asset	`ProceedsFromSaleOfOtherProductiveAssets`	$5.00K	USD	Annual
Sale of asset	`ProceedsFromSaleOfOtherProductiveAssets`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-67.18K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-32.30K	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$9.24K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$500.00	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$20.00K	USD	Annual
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$7.50K	USD	Annual
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-55.65K	USD	Annual
Net Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-19.92K	USD	Annual
Net Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$38.47K	USD	Annual
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-3.77K	USD	Annual
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.80K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.96K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$83.39K	USD	Annual
Net increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.63K	USD	Annual
Net increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.61K	USD	Annual
Cash and equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash and equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash and equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest Paid	`InterestPaid`	$17.91K	USD	Annual
Interest Paid	`InterestPaid`	$16.81K	USD	Annual
Income Taxes Paid	`IncomeTaxesPaid`	-	USD	Annual
Income Taxes Paid	`IncomeTaxesPaid`	-	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$7.70K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$7.88K	USD	Annual

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Stock issued to Directors	`StockIssuedDuringPeriodValueIssuedForServices`	$7.70K	USD	Annual
Stock issued to Directors (in Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	200,000.00	shares	Annual
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Net loss	`NetIncomeLoss`	$-44.45K	USD	Annual
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.