10-K Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001072588-12-000105`
Period End Date	20120430
Filing Date	20120814
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	mihi-20120430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 34 Cash Flow Statement 64 Stockholders Equity 25

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$17.35K	USD	Point-in-time
Preferred Stock Series A shares par value	`PreferredStockSeriesASharesParValue`	$0.01	USD	Point-in-time
Preferred Stock Series A shares par value	`PreferredStockSeriesASharesParValue`	$0.01	USD	Point-in-time
Cash	`Cash`	$107.22K	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Receivables	`AccountsReceivableGross`	$5.89K	USD	Point-in-time
Preferred Stock Series A shares Authorized	`PreferredStockSeriesSharesAuthorized`	50.00	shares	Point-in-time
Receivables	`AccountsReceivableGross`	$237.72K	USD	Point-in-time
Preferred Stock Series A shares Authorized	`PreferredStockSeriesSharesAuthorized`	50.00	shares	Point-in-time
Preferred stock Series A, issued shares	`PreferredStockSeriesIssuedShares`	20.00	shares	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivable`	-	USD	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivable`	$237.72K	USD	Point-in-time
Preferred stock Series A, issued shares	`PreferredStockSeriesIssuedShares`	30.00	shares	Point-in-time
Preferred stock Series A, outstanding shares	`PreferredStockSeriesOutstandingShares`	30.00	shares	Point-in-time
Preferred stock Series A, outstanding shares	`PreferredStockSeriesOutstandingShares`	20.00	shares	Point-in-time
Total receivables	`AccountsReceivableNet`	-	USD	Point-in-time
Total receivables	`AccountsReceivableNet`	$5.89K	USD	Point-in-time
Inventory	`InventoryNet`	$224.57K	USD	Point-in-time
Preferred Stock Series B shares par value	`PreferredStockSeriesBShareParValue`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$99.64K	USD	Point-in-time
Preferred Stock Series B shares Authorized	`PreferredStockSeriesBSharesAuthorized`	100.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$122.88K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$224.57K	USD	Point-in-time
Property & Equipment	`PropertyPlantAndEquipmentGross`	$753.33K	USD	Point-in-time
Property & Equipment	`PropertyPlantAndEquipmentGross`	$848.21K	USD	Point-in-time
Preferred stock Series B , issued shares	`PreferredStockSeriesBIssuedShares`	20.00	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$441.21K	USD	Point-in-time
Preferred stock Series B , outstanding shares	`PreferredStockSeriesBOutstandingShares`	20.00	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$422.27K	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Property & Equipment	`PropertyPlantAndEquipmentNet`	$425.94K	USD	Point-in-time
Common Stock shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Property & Equipment	`PropertyPlantAndEquipmentNet`	$312.13K	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
Common Stock shares Issued	`CommonStockSharesIssued`	55.89M	shares	Point-in-time
Common Stock shares Issued	`CommonStockSharesIssued`	51.11M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseNoncurrent`	$31.46K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseNoncurrent`	$9.47K	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	51.11M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$546.16K	USD	Point-in-time
Common Stock shares Outstanding	`CommonStockSharesOutstanding`	55.89M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$580.28K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$759.87K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$684.68K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$458.95K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$295.99K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$132.61K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$214.56K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$192.00	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$238.50K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$428.89K	USD	Point-in-time
Stock committed to be issued	`SharesCommitedToBeIssued`	$2.96K	USD	Point-in-time
Stock committed to be issued	`SharesCommitedToBeIssued`	-	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	-	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$90.50K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$57.50K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$895.56K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$417.82K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$683.04K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.54M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.54M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.83M	USD	Point-in-time
Preferred stock 10,000,000 shares authorized Series A preferred stock, $0.01 par value, 50 shares authorized, 30 and 20 shares issued and outstanding on April 30, 2012 & 2011	`PreferredStockSeriesA`	$360.00K	USD	Point-in-time
Preferred stock 10,000,000 shares authorized Series A preferred stock, $0.01 par value, 50 shares authorized, 30 and 20 shares issued and outstanding on April 30, 2012 & 2011	`PreferredStockSeriesA`	$240.00K	USD	Point-in-time
Preferred stock 10,000,000 shares authorized Series B preferred stock, $0.001 par value, 100 shares authorized, 20 shares issued and outstanding on April 30, 2012	`PreferredStockSeriesB`	$20.00K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized, 55,890,117 and 51,110,497 shares issued and outstanding on April 30, 2012 and April 30, 2011	`CommonStockValue`	$5.11K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized, 55,890,117 and 51,110,497 shares issued and outstanding on April 30, 2012 and April 30, 2011	`CommonStockValue`	$5.59K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.52M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-6.01M	USD	Point-in-time
Total Medina International Holdings, Inc. stockholders' equity	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Total Medina International Holdings, Inc. stockholders' equity	`StockholdersEquity`	$-2.27M	USD	Point-in-time
Total Medina International Holdings, Inc. stockholders' equity	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total Medina International Holdings, Inc. stockholders' equity	`StockholdersEquity`	$-2.24M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$546.16K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$580.28K	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$419.40K	USD	Annual
Sales, net	`Revenues`	$1.54M	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$342.74K	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$1.03M	USD	Annual
Gross Profit (Loss)	`GrossProfit`	$512.53K	USD	Annual
Gross Profit (Loss)	`GrossProfit`	$76.66K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.09M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$664.93K	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$153.45K	USD	Annual
Selling and marketing expenses	`SellingAndMarketingExpense`	$63.44K	USD	Annual
Write-off of assets	`ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss`	-	USD	Annual
Write-off of assets	`ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss`	$222.57K	USD	Annual
Income (Loss) from operations	`OperatingIncomeLoss`	$-528.41K	USD	Annual
Income (Loss) from operations	`OperatingIncomeLoss`	$-1.08M	USD	Annual
Other income (expense)	`NonoperatingIncomeExpense`	$17.16K	USD	Annual
Other income (expense)	`NonoperatingIncomeExpense`	$32.05K	USD	Annual
Interest expense	`InterestExpense`	$69.65K	USD	Annual
Interest expense	`InterestExpense`	$187.45K	USD	Annual
Net other loss	`OtherNonoperatingGainsLosses`	$-170.29K	USD	Annual
Net other loss	`OtherNonoperatingGainsLosses`	$-37.61K	USD	Annual
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.25M	USD	Annual
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-566.02K	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net Income (loss)	`ProfitLoss`	$-1.25M	USD	Annual
Net Income (loss)	`ProfitLoss`	$-566.02K	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.02	USD	Annual
Basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	52.80M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	51.03M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	52.80M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.03M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.25M	USD	Annual
Net loss	`ProfitLoss`	$-566.02K	USD	Annual
Common stock expenses	`CommonStockExpenses`	$30.51K	USD	Annual
Common stock expenses	`CommonStockExpenses`	$8.34K	USD	Annual
Depreciation expenses	`Depreciation`	$159.27K	USD	Annual
Depreciation expenses	`Depreciation`	$119.89K	USD	Annual
Write-off of fixed assets	`ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss`	-	USD	Annual
Write-off of fixed assets	`ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss`	$222.57K	USD	Annual
Stock Issued for conversion of debt	`StockIssuedDuringPeriodValueOther`	$-44.50K	USD	Annual
Beneficial loan conversion	`DebtInstrumentConvertibleBeneficialConversionFeature`	$-95.00K	USD	Annual
Preferred A stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$140.00K	USD	Annual
Preferred B stock issued for services	`PreferredBStockIssuedForServices`	$24.71K	USD	Annual
Settlement of Court case	`SettlementAdjustment`	-	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.89K	USD	Annual
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-56.39K	USD	Annual
(increase) decrease in other receivable	`IncreaseDecreaseInOtherReceivables`	$-465.00	USD	Annual
(increase) decrease in other receivable	`IncreaseDecreaseInOtherReceivables`	$1.69K	USD	Annual
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$-65.01K	USD	Annual
(Increase) decrease in inventory	`IncreaseDecreaseInInventories`	$124.93K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$93.22K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$121.84K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$189.95K	USD	Annual
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$109.92K	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-69.50K	USD	Annual
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$190.40K	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$23.21K	USD	Annual
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-23.68K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$831.14K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$580.32K	USD	Annual
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-415.55K	USD	Annual
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.29K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$107.03K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.16K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.16K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-107.03K	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$192.00	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	Annual
Proceeds (payment) from note payable	`ProceedsFromNotesPayable`	$-70.81K	USD	Annual
Proceeds (payment) from note payable	`ProceedsFromNotesPayable`	$90.50K	USD	Annual
Proceeds (payments) from related party notes payables	`RepaymentsOfRelatedPartyDebt`	$4.58K	USD	Annual
Proceeds (payments) from related party notes payables shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	Annual
Proceeds (payments) from related party notes payables shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$265.22K	USD	Annual
Proceeds (payment) from Lines of Credit & Credit Cards	`RepaymentsOfShortTermDebt`	$-3.89K	USD	Annual
Proceeds (payment) from Lines of Credit & Credit Cards	`RepaymentsOfShortTermDebt`	$193.00	USD	Annual
Proceeds from stock subscription	`ProceedsFromStockSubscription`	-	USD	Annual
Proceeds from stock subscription	`ProceedsFromStockSubscription`	$150.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$505.23K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-71.01K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-89.87K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.35K	USD	Annual
Cash and cash equivalents - beginning of period	`Cash`	$17.35K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`Cash`	$107.22K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`Cash`	-	USD	Point-in-time
Cash and cash equivalents - end of period	`Cash`	$17.35K	USD	Point-in-time
Cash and cash equivalents - end of period	`Cash`	$107.22K	USD	Point-in-time
Cash and cash equivalents - end of period	`Cash`	-	USD	Point-in-time
Interest Paid	`InterestPaid`	$28.90K	USD	Annual
Interest Paid	`InterestPaid`	$16.81K	USD	Annual
Taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Taxes paid	`IncomeTaxesPaid`	-	USD	Annual
Stock issued for services	`StockIssuedForServices`	$30.51K	USD	Annual
Stock issued for services	`StockIssuedForServices`	$5.38K	USD	Annual
Paid in Capital from legal settlement	`PaidInCapitalFromLegalSettlement`	-	USD	Annual
Paid in Capital from legal settlement	`PaidInCapitalFromLegalSettlement`	$1.01M	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-2.27M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-2.24M	USD	Point-in-time
Preferred Stock issued for subscription payable, Amount	`PreferredStockIssuedForSubscriptionPayableAmount`	$240.00K	USD	Annual
Stock issued to Directors, Amount	`StockIssuedDuringPeriodValueIssuedForNoncashConsiderations`	$4.38K	USD	Annual
Stock issued to Directors, Amount	`StockIssuedDuringPeriodValueIssuedForNoncashConsiderations`	$10.46K	USD	Annual
Stock issued to Directors, Amount	`StockIssuedDuringPeriodValueIssuedForNoncashConsiderations`	$3.16K	USD	Annual
Preferred Stock issued to Directors, Amount	`PreferredStockIssuedToDirectorsAmount`	$164.71K	USD	Annual
Stock issued for subscription payable, Amount	`StockIssuedForSubscriptionPayableAmount`	$662.74K	USD	Annual
Stock issued for accrued liabilities, Amount	`StockIssuedForAccruedLiabilitiesAmount`	$413.50K	USD	Annual
Shares issued for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$20.05K	USD	Annual
Shares issued for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$1.00K	USD	Annual
Shares issued for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$7.04K	USD	Annual
Stock subscription receivable, Amount	`StockSubscriptionReceivableAmount`	-	USD	Annual
Shares issued for cash, Amount	`StockIssuedDuringPeriodValueIssuedForCash`	$150.00K	USD	Annual
Shares issued on conversion of debt, Amount	`SharesIssuedOnConversionOfDebtAmount`	$47.46K	USD	Annual
Beneficial Loan conversion Expense, Amount	`BeneficialLoanConversionExpense`	$95.00K	USD	Annual
Settlement of Lawsuit	`SettlementOfLawsuit`	$1.01M	USD	Annual
Net income	`NetIncomeLoss`	$-1.25M	USD	Annual
Net income	`NetIncomeLoss`	$-742.07K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-2.27M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-2.24M	USD	Point-in-time

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