10-Q Filing

MEDIXALL GROUP, INC. CIK: 1601280 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001079973-22-000915`
Period End Date	20220331
Filing Date	20220801
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	mdxl_10q-033122_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 28 Cash Flow Statement 50 Stockholders Equity 16

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Net of discount	`ConvertibleDebtNetOfDiscount`	$23.80K	USD	Point-in-time
Cash	`Cash`	$63.42K	USD	Point-in-time
Cash	`Cash`	$103.90K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseCurrent`	$116.41K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseCurrent`	$276.04K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$7.48K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$3.48K	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$342.94K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$227.80K	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$20.70K	USD	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$23.38K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Rights-to-use-intellectual property	`OtherIntangibleAssetsNet`	$227.57K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	110.86M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	115.90M	shares	Point-in-time
Rights-to-use-intellectual property	`OtherIntangibleAssetsNet`	-	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	115.90M	shares	Point-in-time
Right-of-use-operating lease asset	`OperatingLeaseRightOfUseAsset`	$295.96K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	110.86M	shares	Point-in-time
Right-of-use-operating lease asset	`OperatingLeaseRightOfUseAsset`	$313.86K	USD	Point-in-time
Website and development costs	`IntangibleAssetsNetExcludingGoodwill`	$451.40K	USD	Point-in-time
Website and development costs	`IntangibleAssetsNetExcludingGoodwill`	$453.08K	USD	Point-in-time
Total assets	`Assets`	$1.23M	USD	Point-in-time
Total assets	`Assets`	$1.13M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$588.87K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$585.72K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$589.20K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$567.20K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$60.19K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$69.26K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.23M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$246.37K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$238.62K	USD	Point-in-time
Senior Convertible Debentures, net of discount of $23,800	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Senior Convertible Debentures, net of discount of $23,800	`ConvertibleDebtCurrent`	$426.88K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.47M	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 115,901,920 and 110,864,595 shares issued and outstanding	`CommonStockValue`	$110.86K	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 115,901,920 and 110,864,595 shares issued and outstanding	`CommonStockValue`	$115.90K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.40M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.19M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$1.02M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$381.90K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-340.12K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-675.50K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.23M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$7.91K	USD	1 Quarter
Revenue	`Revenues`	$3.27K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$328.66K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$339.58K	USD	1 Quarter
Professional fees - related party	`ProfessionalFeesRelatedParty`	$164.04K	USD	1 Quarter
Professional fees - related party	`ProfessionalFeesRelatedParty`	$120.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeRelatedParty`	$120.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeRelatedParty`	$240.00K	USD	1 Quarter
Personnel related expenses	`LaborAndRelatedExpense`	$601.55K	USD	1 Quarter
Personnel related expenses	`LaborAndRelatedExpense`	$1.53M	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$199.40K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$110.40K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.34M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$2.42M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.41M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.33M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Less preferred stock dividends	`DividendsPreferredStock`	$46.97K	USD	1 Quarter
Less preferred stock dividends	`DividendsPreferredStock`	$72.84K	USD	1 Quarter
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.38M	USD	1 Quarter
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.48M	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfCommonSharesOutstandingDuringPeriodsBasicAndDiluted`	100.24M	shares	1 Quarter
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfCommonSharesOutstandingDuringPeriodsBasicAndDiluted`	114.63M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Depreciation	`Depreciation`	$1.00K	USD	1 Quarter
Depreciation	`Depreciation`	$2.68K	USD	1 Quarter
Common stock issued as compensation for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Common stock issued as compensation for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$1.09M	USD	1 Quarter
Amortization of debenture discounts	`AmortizationOfDebentureDiscounts`	-	USD	1 Quarter
Amortization of debenture discounts	`AmortizationOfDebentureDiscounts`	$-680.00	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$4.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$45.93K	USD	1 Quarter
Prepaid expenses - related party	`IncreaseDecreaseInPrepaidExpensesRelatedParty`	$159.63K	USD	1 Quarter
Prepaid expenses - related party	`IncreaseDecreaseInPrepaidExpensesRelatedParty`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$82.03K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.15K	USD	1 Quarter
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$22.00K	USD	1 Quarter
Amortization of right-of-use operating lease asset	`AmortizationOfRightofuseOperatingLeaseAsset`	$18.23K	USD	1 Quarter
Amortization of right-of-use operating lease asset	`AmortizationOfRightofuseOperatingLeaseAsset`	$17.89K	USD	1 Quarter
Amortization of right-to-use intellectual property	`AmortizationOfRighttouseIntellectualProperty`	-	USD	1 Quarter
Amortization of right-to-use intellectual property	`AmortizationOfRighttouseIntellectualProperty`	$8.43K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-19.21K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-16.83K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.13M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.30M	USD	1 Quarter
Website and development costs	`WebsiteAndDevelopmentCosts`	$1.68K	USD	1 Quarter
Website and development costs	`WebsiteAndDevelopmentCosts`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.68K	USD	1 Quarter
Proceeds from the sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$720.00K	USD	1 Quarter
Proceeds from the sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$621.88K	USD	1 Quarter
Proceeds from the sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Proceeds from the sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.34M	USD	1 Quarter
Proceeds from issuance of convertible debentures	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from issuance of convertible debentures	`ProceedsFromIssuanceOfLongTermDebt`	$450.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.97M	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$670.70K	USD	1 Quarter
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$40.48K	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.32M	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$645.76K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.90K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$63.42K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.32M	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$645.76K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$103.90K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$63.42K	USD	Point-in-time
Issuance of Common Stock in exchange for of the Right-to-Use Intellectual Property	`IssuanceOfCommonStockInExchangeForOfRighttouseIntellectualProperty`	-	USD	1 Quarter
Issuance of Common Stock in exchange for of the Right-to-Use Intellectual Property	`IssuanceOfCommonStockInExchangeForOfRighttouseIntellectualProperty`	$236.00K	USD	1 Quarter
Discount issued with Convertible Debentures	`DiscountIssuedWithConvertibleDebentures`	$23.80K	USD	1 Quarter
Discount issued with Convertible Debentures	`DiscountIssuedWithConvertibleDebentures`	-	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$1.02M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$381.90K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-340.12K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-675.50K	USD	Point-in-time
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs	`StockIssuedDuringPeriodValueOther`	$720.00K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs	`StockIssuedDuringPeriodValueOther`	$621.88K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.09M	USD	1 Quarter
Common stock issued in exchange for right-to-use intellectual property	`CommonStockIssuedInExchangeForRighttouseIntellectualProperty`	$236.00K	USD	1 Quarter
Fair value of Warrants issued with Convertible Debentures	`FairValueOfWarrantsIssuedWithConvertibleDebentures`	$23.80K	USD	1 Quarter
Proceeds received from sale of Preferred Stock	`ProceedsReceivedFromSaleOfPreferredStock`	$1.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$1.02M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$381.90K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-340.12K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-675.50K	USD	Point-in-time

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