10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001065949-16-000383`
Period End Date	20140731
Filing Date	20160510
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	mihi-20140731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 36 Cash Flow Statement 56 Stockholders Equity 13

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.26K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$21.78K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Inventory	`InventoryNet`	$93.95K	USD	Point-in-time
Inventory	`InventoryNet`	$93.95K	USD	Point-in-time
Receivables	`AccountsReceivableGross`	$245.78K	USD	Point-in-time
Receivables	`AccountsReceivableGross`	$237.72K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivableCurrent`	$237.72K	USD	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivableCurrent`	$237.72K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Receivables	`AccountsReceivableNet`	$8.06K	USD	Point-in-time
Total Receivables	`AccountsReceivableNet`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$93.98K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$113.27K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$836.14K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$836.14K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$652.65K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$628.09K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$183.49K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$208.05K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$8.59K	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`	$305.35K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$741.93K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$700.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.29M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$126.44K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$127.04K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$2.00K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	-	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.88K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$9.88K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$216.65K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$221.45K	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`	$491.99K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.88M	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 shares issued and outstanding on July 31, 2014 & April 30, 2014	`CommonStockValue`	$5.61K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 shares issued and outstanding on July 31, 2014 & April 30, 2014	`CommonStockValue`	$5.61K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.72M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.58M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.41M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$305.35K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$310.61K	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$57.29K	USD	1 Quarter
Sales, net	`Revenues`	$57.49K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$67.08K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$65.52K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-8.03K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-9.79K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$96.32K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$87.56K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$1.04K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.88K	USD	1 Quarter
Write-off of assets	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	1 Quarter
Write-off of assets	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-98.39K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-109.23K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$24.58K	USD	1 Quarter
Interest expense	`InterestExpense`	$23.60K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-23.60K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-24.58K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-121.99K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-133.81K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Gain (Loss) from operations	`NetIncomeLoss`	$-44.45K	USD	Annual
Net Gain (Loss) from operations	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Gain (Loss) from operations	`NetIncomeLoss`	$-121.99K	USD	1 Quarter
Net Gain (Loss) from operations	`NetIncomeLoss`	$-133.81K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	55.95M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.95M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-44.45K	USD	Annual
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Net loss	`NetIncomeLoss`	$-121.99K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-133.81K	USD	1 Quarter
Stock subscription payable	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$2.00K	USD	1 Quarter
Stock subscription payable	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$3.00K	USD	1 Quarter
Depreciation expenses	`Depreciation`	$24.56K	USD	1 Quarter
Depreciation expenses	`Depreciation`	$25.64K	USD	1 Quarter
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$10.06K	USD	1 Quarter
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$-10.00K	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$460.43K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-37.50K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$41.03K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$71.94K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.40K	USD	1 Quarter
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$673.95K	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.00K	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$129.46K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$207.25K	USD	1 Quarter
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.36K	USD	1 Quarter
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.26K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.58K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.58K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	1 Quarter
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	$4.80K	USD	1 Quarter
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$11.40K	USD	1 Quarter
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-11.40K	USD	1 Quarter
Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-2.71K	USD	1 Quarter
Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-604.00	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.53K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.59K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$19.14K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.24K	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.26K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.78K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.26K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.78K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Interest Paid	`InterestPaid`	$7.78K	USD	1 Quarter
Interest Paid	`InterestPaid`	$4.96K	USD	1 Quarter
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$7.70K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$2.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Stock issued to Directors	`StockIssuedDuringPeriodValueNewIssues`	$7.70K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$-121.99K	USD	1 Quarter
Net gain (loss)	`NetIncomeLoss`	$-133.81K	USD	1 Quarter
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.58M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time

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