10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001065949-16-000397`
Period End Date	20160131
Filing Date	20160513
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	mihi-20160131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 67 Cash Flow Statement 53 Stockholders Equity 18

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$27.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$33.82K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$143.50K	USD	Point-in-time
Inventory	`InventoryNet`	$79.91K	USD	Point-in-time
Inventory	`InventoryNet`	$240.97K	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
Total other receivables	`OtherReceivables`	-	USD	Point-in-time
Total other receivables	`OtherReceivables`	-	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 current assets	`AssetsCurrent`	$91.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$274.79K	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`	$745.64K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$745.74K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$717.69K	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`	$28.06K	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`	$311.43K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$658.79K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$349.43K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.47M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$110.48K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$94.64K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$306.02K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$535.49K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$11.38K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	-	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$219.50K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$489.84K	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`	$492.73K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$471.11K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.54M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.54M	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 shares issued and outstanding on Janaury 31, 2016 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 Janaury 31, 2016 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`	$-8.51M	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`	$-2.44M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.23M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$147.95K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$311.43K	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$239.06K	USD	3 Qtrs
Sales, net	`Revenues`	$27.64K	USD	3 Qtrs
Sales, net	`Revenues`	-	USD	1 Quarter
Sales, net	`Revenues`	$161.33K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$215.74K	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$995.00	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$103.71K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$74.52K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$23.32K	USD	3 Qtrs
Gross profit (loss)	`GrossProfit`	$57.62K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-995.00	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-46.88K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$159.12K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$91.54K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$7.61K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$299.48K	USD	3 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$24.85K	USD	3 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$960.00	USD	3 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$-1.70K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$9.43K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-43.35K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-206.95K	USD	3 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-301.01K	USD	3 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-6.90K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$94.04K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$19.18K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$12.95K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$87.83K	USD	1 Quarter
Interest expense	`InterestExpense`	$25.32K	USD	3 Qtrs
Interest expense	`InterestExpense`	$21.45K	USD	1 Quarter
Interest expense	`InterestExpense`	$66.16K	USD	3 Qtrs
Interest expense	`InterestExpense`	$4.82K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$68.71K	USD	3 Qtrs
Net other Income (loss)	`NonoperatingIncomeExpense`	$83.01K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-8.50K	USD	1 Quarter
Net other Income (loss)	`NonoperatingIncomeExpense`	$-46.98K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-51.84K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-348.00K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-138.24K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$76.11K	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	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`	$76.11K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-138.24K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-348.00K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-650.89K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Basic	`EarningsPerShareBasic`	-	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	3 Qtrs
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	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
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 53 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`	$76.11K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.24K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-348.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-650.89K	USD	Annual
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$3.00K	USD	3 Qtrs
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$-11.38K	USD	3 Qtrs
Depreciation expenses	`Depreciation`	$20.30K	USD	3 Qtrs
Depreciation expenses	`Depreciation`	$71.17K	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`	-	USD	3 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	3 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-161.05K	USD	3 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	-	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`	$-63.54K	USD	3 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$229.46K	USD	3 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$299.02K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$533.74K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$140.88K	USD	3 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$185.74K	USD	3 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.64K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	3 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	3 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	$14.32K	USD	3 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	$4.63K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-34.93K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$21.62K	USD	3 Qtrs
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-15.84K	USD	3 Qtrs
Net Proceeds/(Payments) on lines of credit & credit cards	`ProceedsFromRepaymentsOfShortTermDebt`	$-11.97K	USD	3 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.09K	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`	$143.47K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.73K	USD	3 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.09K	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`	$33.82K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$143.50K	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`	$27.00	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$33.82K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$143.50K	USD	Point-in-time
Interest Paid	`InterestPaid`	$20.15K	USD	3 Qtrs
Interest Paid	`InterestPaid`	$9.29K	USD	3 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Taxes Paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs

Stockholders Equity 18 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
Balance	`StockholdersEquity`	$-3.23M	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`	$76.11K	USD	1 Quarter
Net gain loss	`NetIncomeLoss`	$-138.24K	USD	3 Qtrs
Net gain loss	`NetIncomeLoss`	$-348.00K	USD	3 Qtrs
Net gain loss	`NetIncomeLoss`	$-650.89K	USD	Annual
Net gain loss	`NetIncomeLoss`	$-417.28K	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
Balance	`StockholdersEquity`	$-3.23M	USD	Point-in-time

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