10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001065949-16-000395`
Period End Date	20150731
Filing Date	20160513
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	mihi-20150731.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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$34.13K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.26K	USD	Point-in-time
Inventory	`InventoryNet`	$139.35K	USD	Point-in-time
Inventory	`InventoryNet`	$79.91K	USD	Point-in-time
Receivables	`AccountsReceivableGrossCurrent`	$237.72K	USD	Point-in-time
Receivables	`AccountsReceivableGrossCurrent`	$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
Reserve	`AllowanceForDoubtfulOtherReceivablesCurrent`	$237.72K	USD	Point-in-time
Reserve	`AllowanceForDoubtfulOtherReceivablesCurrent`	$237.72K	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 Receivables	`ReceivablesNetCurrent`	-	USD	Point-in-time
Total Receivables	`ReceivablesNetCurrent`	-	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
Total current assets	`AssetsCurrent`	$173.47K	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`	$745.74K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$745.64K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$697.28K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$711.31K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$48.36K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$34.43K	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`	$216.49K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$147.95K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$658.79K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$386.66K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.47M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$110.48K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$105.36K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$306.02K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$451.54K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$11.88K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$11.38K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$219.50K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$475.52K	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`	$488.29K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.44M	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 July 31, 2015 & April 30, 2015	`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, 2015 & April 30, 2015	`CommonStockValue`	$5.61K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.91M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.37M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.22M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$216.49K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$147.95K	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$57.49K	USD	1 Quarter
Sales, net	`Revenues`	$27.64K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$65.52K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$53.65K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-8.03K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-26.01K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$87.79K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$96.32K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$4.88K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$2.48K	USD	1 Quarter
Write-off of assets	`WriteoffOfAssets`	-	USD	1 Quarter
Write-off of assets	`WriteoffOfAssets`	-	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-109.23K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-116.28K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$4.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$-16.43K	USD	1 Quarter
Interest expense	`InterestExpense`	$-24.58K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-24.58K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-11.81K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-128.10K	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`	$-133.81K	USD	1 Quarter
Net Gain (Loss) from operations	`NetIncomeLoss`	$-650.89K	USD	Annual
Net Gain (Loss) from operations	`NetIncomeLoss`	$-128.10K	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`	56.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	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`	$-133.81K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-650.89K	USD	Annual
Net loss	`NetIncomeLoss`	$-128.10K	USD	1 Quarter
Stock subscription payable	`StockSubscriptionPayable`	$500.00	USD	1 Quarter
Stock subscription payable	`StockSubscriptionPayable`	$2.00K	USD	1 Quarter
Depreciation expenses	`Depreciation`	$24.56K	USD	1 Quarter
Depreciation expenses	`Depreciation`	$16.93K	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`	-	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-59.44K	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.11K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$41.03K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$54.67K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$71.94K	USD	1 Quarter
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$145.51K	USD	1 Quarter
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$129.46K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$142.07K	USD	1 Quarter
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.36K	USD	1 Quarter
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.97K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	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`	$-5.12K	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`	$17.18K	USD	1 Quarter
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	-	USD	1 Quarter
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-604.00	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$15.59K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.06K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.24K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$23.04K	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.13K	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`	$11.09K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.26K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.13K	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`	$11.09K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.26K	USD	Point-in-time
Interest Paid	`InterestPaid`	$7.78K	USD	1 Quarter
Interest Paid	`InterestPaid`	$7.78K	USD	1 Quarter
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Stock issued for services	`StockIssued1`	$2.00K	USD	1 Quarter
Stock issued for services	`StockIssued1`	$2.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.22M	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`	$-133.81K	USD	1 Quarter
Net gain loss	`NetIncomeLoss`	$-650.89K	USD	Annual
Net gain loss	`NetIncomeLoss`	$-128.10K	USD	1 Quarter
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$-3.22M	USD	Point-in-time

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