10-K Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001065949-16-000394`
Period End Date	20150430
Filing Date	20160513
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	mihi-20150430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 37 Cash Flow Statement 56 Stockholders Equity 13

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	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`	$27.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventory	`InventoryNet`	$79.91K	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
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
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	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
Common stock, shares issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$91.00K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$836.14K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$745.64K	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
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$628.09K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$697.28K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$48.36K	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`	$147.95K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$310.61K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$658.79K	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`	$1.47M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$127.04K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$110.48K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$306.02K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$2.00K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$11.38K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.88K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$219.50K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$216.65K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$471.11K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$480.59K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.24M	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 shares issued and outstanding on April 30, 2015 and 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 April 30, 2015 and 2014	`CommonStockValue`	$5.61K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.37M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.10M	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 stockholders' deficit	`StockholdersEquity`	$-1.99M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$147.95K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$310.61K	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$239.06K	USD	Annual
Sales, net	`Revenues`	$2.12M	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$258.41K	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$1.40M	USD	Annual
Gross profit	`GrossProfit`	$-19.35K	USD	Annual
Gross profit	`GrossProfit`	$719.89K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$376.79K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$580.60K	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$34.30K	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$150.09K	USD	Annual
Write-off of inventory	`WriteoffOfInventory`	$93.95K	USD	Annual
Write-off of inventory	`WriteoffOfInventory`	-	USD	Annual
Write-off of intangible assets	`WriteoffOfIntangibleAssets`	-	USD	Annual
Write-off of intangible assets	`WriteoffOfIntangibleAssets`	$73.77K	USD	Annual
Income (Loss) from operations	`OperatingIncomeLoss`	$-598.15K	USD	Annual
Income (Loss) from operations	`OperatingIncomeLoss`	$-10.81K	USD	Annual
Other income - Gain on debt relief	`OtherNonoperatingIncomeExpense`	$30.35K	USD	Annual
Other income - Gain on debt relief	`OtherNonoperatingIncomeExpense`	$41.25K	USD	Annual
Interest expense	`InterestExpense`	$74.90K	USD	Annual
Interest expense	`InterestExpense`	$83.08K	USD	Annual
Net other Income (expense)	`NonoperatingIncomeExpense`	$-52.74K	USD	Annual
Net other Income (expense)	`NonoperatingIncomeExpense`	$-33.65K	USD	Annual
Income (Loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-650.89K	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`	$-650.89K	USD	Annual
Net Income (Loss) from operations	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Income (Loss) from operations	`NetIncomeLoss`	$-44.45K	USD	Annual
Basic	`EarningsPerShareBasic`	-	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Diluted	`EarningsPerShareDiluted`	-	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.06M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.06M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Income (loss)	`NetIncomeLoss`	$-650.89K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-3.50K	USD	Annual
Common stock for services	`StockIssuedDuringPeriodValueIssuedForServices`	$-7.88K	USD	Annual
Depreciation expenses	`Depreciation`	$85.92K	USD	Annual
Depreciation expenses	`Depreciation`	$101.66K	USD	Annual
Write of off Intangible Asset	`WriteOfOffIntangibleAsset`	-	USD	Annual
Write of off Intangible Asset	`WriteOfOffIntangibleAsset`	$73.77K	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`	$-14.04K	USD	Annual
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-99.80K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-42.11K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$44.00K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$288.80K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$246.01K	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-536.58K	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$304.02K	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-10.09K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$25.64K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$685.15K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$34.26K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-18.82K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$67.18K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	Annual
Sale of asset	`ProceedsFromSaleOfOtherAssets1`	-	USD	Annual
Sale of asset	`ProceedsFromSaleOfOtherAssets1`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-67.18K	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$500.00	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$2.85K	USD	Annual
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-55.65K	USD	Annual
Net Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$38.47K	USD	Annual
Net Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-9.48K	USD	Annual
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-16.56K	USD	Annual
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.80K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$83.39K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.19K	USD	Annual
Net increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.61K	USD	Annual
Net increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.06K	USD	Annual
Cash and equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	USD	Point-in-time
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 equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	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
Interest Paid	`InterestPaid`	$17.91K	USD	Annual
Interest Paid	`InterestPaid`	$20.15K	USD	Annual
Income Taxes Paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income Taxes Paid	`IncomeTaxesPaidNet`	-	USD	Annual
Stock issued for services	`StockIssuedForServices`	$7.88K	USD	Annual
Stock issued for services	`StockIssuedForServices`	$3.50K	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	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
Stock cancelled	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$-650.89K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net gain (loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Balance	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	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.