10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001065949-16-000384`
Period End Date	20141031
Filing Date	20160510
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	mihi-20141031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 64 Cash Flow Statement 59 Stockholders Equity 15

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.26K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.27K	USD	Point-in-time
Inventory	`InventoryNet`	$93.95K	USD	Point-in-time
Inventory	`InventoryNet`	$93.95K	USD	Point-in-time
Other receivables	`OtherReceivablesGrossCurrent`	$237.72K	USD	Point-in-time
Other receivables	`OtherReceivablesGrossCurrent`	$237.72K	USD	Point-in-time
Reserve	`AllowanceForDoubtfulOtherReceivablesCurrent`	$237.72K	USD	Point-in-time
Reserve	`AllowanceForDoubtfulOtherReceivablesCurrent`	$237.72K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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 other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total other receivables	`OtherReceivablesNetCurrent`	-	USD	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`	$97.21K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$836.14K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$628.09K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$677.21K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$158.93K	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`	$264.73K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$715.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$700.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.36M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$125.07K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$127.04K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$60.77K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$2.00K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.88K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$10.38K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$216.65K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$227.95K	USD	Point-in-time
Related party payable	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Related party payable	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$503.55K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$480.59K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.75M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.01M	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 shares issued and outstanding on October 31, 2014 and 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 October 31, 2014 and 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`	$-8.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.72M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.74M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.99M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$310.61K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$264.73K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$20.24K	USD	1 Quarter
Sales, net	`Revenues`	$762.33K	USD	2 Qtrs
Sales, net	`Revenues`	$705.04K	USD	1 Quarter
Sales, net	`Revenues`	$77.73K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$454.73K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$46.52K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$522.16K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$112.04K	USD	2 Qtrs
Gross Profit (Loss)	`GrossProfit`	$250.31K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$-34.31K	USD	2 Qtrs
Gross Profit (Loss)	`GrossProfit`	$-26.28K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$240.17K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$207.94K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$195.10K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$106.76K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$111.62K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$77.74K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$10.54K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$15.42K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$76.73K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-257.67K	USD	2 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-148.44K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-32.67K	USD	2 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$66.82K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$6.23K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$6.23K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$44.71K	USD	2 Qtrs
Interest expense	`InterestExpense`	$36.45K	USD	2 Qtrs
Interest expense	`InterestExpense`	$-12.86K	USD	1 Quarter
Net other loss	`NonoperatingIncomeExpense`	$-13.90K	USD	1 Quarter
Net other loss	`NonoperatingIncomeExpense`	$-36.45K	USD	2 Qtrs
Net other loss	`NonoperatingIncomeExpense`	$-38.49K	USD	2 Qtrs
Net other loss	`NonoperatingIncomeExpense`	$-12.86K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-296.16K	USD	2 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-162.34K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$53.97K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-69.13K	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-69.13K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-296.16K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$53.97K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-162.34K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	2 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-69.13K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-296.16K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Net loss	`NetIncomeLoss`	$53.97K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-162.34K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-44.45K	USD	Annual
Stock subscription payable/Issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$4.12K	USD	2 Qtrs
Stock subscription payable/Issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$2.50K	USD	2 Qtrs
Depreciation expenses	`Depreciation`	$53.03K	USD	2 Qtrs
Depreciation expenses	`Depreciation`	$49.12K	USD	2 Qtrs
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$-10.00K	USD	2 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	2 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$369.93K	USD	2 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$156.71K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$68.21K	USD	2 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$58.77K	USD	2 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$310.65K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-8.44K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$84.52K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$267.10K	USD	2 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-29.05K	USD	2 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.39K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.58K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.58K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	2 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-55.00K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-11.30K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$22.96K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-8.96K	USD	2 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.97K	USD	2 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-3.80K	USD	2 Qtrs
Proceeds from stock subscription	`ProceedsFromStockPlans`	-	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$32.81K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$32.28K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.23K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.63K	USD	2 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.26K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.27K	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`	$3.26K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.27K	USD	Point-in-time
Interest Paid	`InterestPaid`	$4.96K	USD	2 Qtrs
Interest Paid	`InterestPaid`	$14.78K	USD	2 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Shares issued to settle accrued expenses	`DebtConversionConvertedInstrumentAmount1`	$7.70K	USD	2 Qtrs
Shares issued to settle accrued expenses	`DebtConversionConvertedInstrumentAmount1`	-	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Stock issued to Directors	`StockIssuedDuringPeriodValueNewIssues`	$7.70K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$-69.13K	USD	2 Qtrs
Net gain (loss)	`NetIncomeLoss`	$-296.16K	USD	2 Qtrs
Net gain (loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$53.97K	USD	1 Quarter
Net gain (loss)	`NetIncomeLoss`	$-162.34K	USD	1 Quarter
Net gain (loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time

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