10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001065949-16-000385`
Period End Date	20150131
Filing Date	20160510
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	mihi-20150131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 66 Cash Flow Statement 58 Stockholders Equity 15

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$143.50K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$9.89K	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Reserve	`AllowanceForDoubtfulOtherReceivablesCurrent`	$237.72K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	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 issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$237.45K	USD	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 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`	$699.26K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$628.09K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$208.05K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$136.88K	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`	$382.92K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$674.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$700.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.41M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$127.04K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$115.07K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$2.00K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$301.02K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.88K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$10.88K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$216.65K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$221.28K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$445.67K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$480.59K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.18M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.75M	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 shares issued and outstanding on January 31, 2015 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 January 31, 2015 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`	$-7.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.07M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.79M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.41M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$382.92K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$310.61K	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$161.33K	USD	1 Quarter
Sales, net	`Revenues`	$2.11M	USD	3 Qtrs
Sales, net	`Revenues`	$1.35M	USD	1 Quarter
Sales, net	`Revenues`	$239.06K	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$215.74K	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$866.47K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$103.71K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$1.39M	USD	3 Qtrs
Gross Profit (Loss)	`GrossProfit`	$481.42K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$23.32K	USD	3 Qtrs
Gross Profit (Loss)	`GrossProfit`	$721.53K	USD	3 Qtrs
Gross Profit (Loss)	`GrossProfit`	$57.62K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$91.54K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$299.48K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$283.65K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$88.59K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$24.85K	USD	3 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$9.43K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$68.44K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$146.18K	USD	3 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$324.39K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$291.69K	USD	3 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-43.35K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-301.01K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$12.95K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$19.18K	USD	3 Qtrs
Interest expense	`InterestExpense`	$54.30K	USD	3 Qtrs
Interest expense	`InterestExpense`	$66.16K	USD	3 Qtrs
Interest expense	`InterestExpense`	$17.85K	USD	1 Quarter
Interest expense	`InterestExpense`	$21.45K	USD	1 Quarter
Net other (loss)	`NonoperatingIncomeExpense`	$-17.85K	USD	1 Quarter
Net other (loss)	`NonoperatingIncomeExpense`	$-54.30K	USD	3 Qtrs
Net other (loss)	`NonoperatingIncomeExpense`	$-46.98K	USD	3 Qtrs
Net other (loss)	`NonoperatingIncomeExpense`	$-8.50K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$237.39K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$306.54K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-348.00K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-51.84K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-51.84K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$306.54K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$237.39K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-348.00K	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-51.84K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-44.45K	USD	Annual
Net loss	`NetIncomeLoss`	$306.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Net loss	`NetIncomeLoss`	$237.39K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-348.00K	USD	3 Qtrs
Stock subscription payable/Issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$3.00K	USD	3 Qtrs
Stock subscription payable/Issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$6.38K	USD	3 Qtrs
Depreciation expenses	`Depreciation`	$71.17K	USD	3 Qtrs
Depreciation expenses	`Depreciation`	$77.28K	USD	3 Qtrs
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$-10.00K	USD	3 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	3 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	-	USD	3 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-89.87K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$160.55K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$77.69K	USD	3 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$299.02K	USD	3 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-498.08K	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-8.38K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$533.74K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-228.49K	USD	3 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.90K	USD	3 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$185.74K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.52K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.52K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	3 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	3 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-4.63K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-55.00K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-3.48K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-34.93K	USD	3 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-214.00	USD	3 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-11.97K	USD	3 Qtrs
Proceeds from stock subscription	`ProceedsFromStockPlans`	-	USD	3 Qtrs
Proceeds from stock subscription	`ProceedsFromStockPlans`	-	USD	3 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.88K	USD	3 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.27K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.26K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$143.47K	USD	3 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$143.50K	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`	$2.63K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.89K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$143.50K	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`	$2.63K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.89K	USD	Point-in-time
Interest Paid	`InterestPaid`	$13.63K	USD	3 Qtrs
Interest Paid	`InterestPaid`	$17.30K	USD	3 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.79M	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`	$-51.84K	USD	1 Quarter
Net gain (loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$306.54K	USD	1 Quarter
Net gain (loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$237.39K	USD	3 Qtrs
Net gain (loss)	`NetIncomeLoss`	$-348.00K	USD	3 Qtrs
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.79M	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.