10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001065949-16-000396`
Period End Date	20151031
Filing Date	20160513
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	mihi-20151031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 66 Cash Flow Statement 58 Stockholders Equity 15

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.87K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$809.00	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
Inventory	`InventoryNet`	$221.00K	USD	Point-in-time
Inventory	`InventoryNet`	$79.91K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$237.72K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$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
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 other receivables	`OtherReceivables`	-	USD	Point-in-time
Total other receivables	`OtherReceivables`	-	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`	$221.81K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$91.00K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$745.74K	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`	$697.28K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$714.50K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$48.36K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$31.24K	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`	$261.64K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$147.95K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$453.58K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$658.79K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.47M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$105.53K	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`	$456.54K	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`	$485.55K	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`	$490.54K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.58M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.58M	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, 2015 and 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 October 31, 2015 and 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`	$-8.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.60M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.10M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.32M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.44M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$147.95K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$261.64K	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	-	USD	1 Quarter
Sales, net	`Revenues`	$27.64K	USD	2 Qtrs
Sales, net	`Revenues`	$20.24K	USD	1 Quarter
Sales, net	`Revenues`	$77.73K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$112.04K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$46.52K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$19.84K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$73.52K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-34.31K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-45.87K	USD	2 Qtrs
Gross profit (loss)	`GrossProfit`	$-19.84K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-26.28K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$164.89K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$74.10K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$111.62K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$207.94K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$15.42K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$2.66K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$10.54K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$174.00	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-148.44K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-94.11K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-257.67K	USD	2 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-213.42K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$6.23K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$6.23K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$6.21K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$1.60K	USD	1 Quarter
Interest expense	`InterestExpense`	$44.71K	USD	2 Qtrs
Interest expense	`InterestExpense`	$4.03K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.51K	USD	2 Qtrs
Net other Income (loss)	`NonoperatingIncomeExpense`	$-2.43K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-13.90K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-38.49K	USD	2 Qtrs
Net other Income (loss)	`NonoperatingIncomeExpense`	$-14.29K	USD	2 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-296.16K	USD	2 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-227.71K	USD	2 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-96.54K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-162.34K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-162.34K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-650.89K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-296.16K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-227.71K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-96.54K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-44.45K	USD	Annual
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.01	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	2 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-162.34K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-650.89K	USD	Annual
Net loss	`NetIncomeLoss`	$-296.16K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-227.71K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-96.54K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-44.45K	USD	Annual
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$2.50K	USD	2 Qtrs
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$500.00	USD	2 Qtrs
Depreciation expenses	`Depreciation`	$49.12K	USD	2 Qtrs
Depreciation expenses	`Depreciation`	$17.22K	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`	-	USD	2 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	2 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$141.09K	USD	2 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$165.89K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$156.71K	USD	2 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$58.77K	USD	2 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$150.51K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$267.10K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$193.03K	USD	2 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-29.05K	USD	2 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-34.68K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$102.00	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-102.00	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	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`	$-11.30K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-10.02K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$19.43K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$22.96K	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`	$-4.95K	USD	2 Qtrs
Proceeds from stock subscription	`ProceedsFromStockSubscription`	-	USD	2 Qtrs
Proceeds from stock subscription	`ProceedsFromStockSubscription`	-	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$32.28K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.50K	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`	$-10.28K	USD	2 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	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`	$5.87K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$809.00	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`	$2.63K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.87K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$809.00	USD	Point-in-time
Interest Paid	`InterestPaid`	-	USD	2 Qtrs
Interest Paid	`InterestPaid`	-	USD	2 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Stockholders Equity 15 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`	$-3.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Stock issued to Directors	`StockIssuedDuringPeriodValueNewIssues`	$7.70K	USD	Annual
Net gain loss	`NetIncomeLoss`	$-162.34K	USD	1 Quarter
Net gain loss	`NetIncomeLoss`	$-650.89K	USD	Annual
Net gain loss	`NetIncomeLoss`	$-296.16K	USD	2 Qtrs
Net gain loss	`NetIncomeLoss`	$-227.71K	USD	2 Qtrs
Net gain loss	`NetIncomeLoss`	$-96.54K	USD	1 Quarter
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`	$-3.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.44M	USD	Point-in-time

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