10-Q Filing

SRX HEALTH SOLUTIONS, INC. CIK: 1471727 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001185185-17-000912`
Period End Date	20170228
Filing Date	20170412
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	senz-20170228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 68 Cash Flow Statement 69

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Convertible Notes, unamortized debt discounts (in Dollars)	`DebtInstrumentUnamortizedDiscount`	-	USD	Point-in-time
Convertible Notes, unamortized debt discounts (in Dollars)	`DebtInstrumentUnamortizedDiscount`	$172.74K	USD	Point-in-time
Convertible Notes, unamortized debt discounts (in Dollars)	`DebtInstrumentUnamortizedDiscount`	-	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.53K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.20K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1,000.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$45.00	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1,000.00	shares	Point-in-time
Inventory	`InventoryNet`	$15.15K	USD	Point-in-time
Inventory	`InventoryNet`	$6.40K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1,000.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$21.68K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.64K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	580.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	580.00M	shares	Point-in-time
Equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	77.81M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	77.78M	shares	Point-in-time
Total Assets	`Assets`	$21.68K	USD	Point-in-time
Total Assets	`Assets`	$16.64K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	77.78M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	77.81M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.75K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$97.18K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$430.14K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$254.95K	USD	Point-in-time
Accrued officer salary	`DueToOfficersOrStockholdersCurrent`	$24.00K	USD	Point-in-time
Accrued officer salary	`DueToOfficersOrStockholdersCurrent`	$72.00K	USD	Point-in-time
Notes payable and accrued interest - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$70.18K	USD	Point-in-time
Notes payable and accrued interest - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Convertible notes, net of unamortized debt discounts of $0 and $172,735	`ConvertibleNotesPayableCurrent`	$267.26K	USD	Point-in-time
Convertible notes, net of unamortized debt discounts of $0 and $172,735	`ConvertibleNotesPayableCurrent`	$361.48K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$590.96K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.03M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 20,000,000 shares authorized, 1,000 shares issued and outstanding as of February 28, 2017 and August 31, 2016	`PreferredStockValue`	$1.00	USD	Point-in-time
Preferred stock, $0.001 par value, 20,000,000 shares authorized, 1,000 shares issued and outstanding as of February 28, 2017 and August 31, 2016	`PreferredStockValue`	$1.00	USD	Point-in-time
Common stock, $0.001 par value, 580,000,000 shares authorized 77,810,303 shares issued and outstanding as of February 28, 2017 and 77,775,303 as of August 31, 2016	`CommonStockValue`	$77.78K	USD	Point-in-time
Common stock, $0.001 par value, 580,000,000 shares authorized 77,810,303 shares issued and outstanding as of February 28, 2017 and 77,775,303 as of August 31, 2016	`CommonStockValue`	$77.81K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$718.49K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.24M	USD	Point-in-time
Subscription receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$5.37K	USD	Point-in-time
Subscription receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$5.37K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.32M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.37M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-574.32K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.01M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$21.68K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$16.64K	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	$320.00	USD	2 Qtrs
Revenue	`Revenues`	$90.00	USD	1 Quarter
Revenue	`Revenues`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	-	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$93.00	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$59.00	USD	1 Quarter
Net revenue	`SalesRevenueNet`	-	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$31.00	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$227.00	USD	2 Qtrs
Net revenue	`SalesRevenueNet`	-	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$192.35K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.22K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.24K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$258.50K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$4.24K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$47.10K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$29.12K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$9.69K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$7.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$221.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.91K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$305.60K	USD	2 Qtrs
Net Operating Loss	`OperatingIncomeLoss`	$-221.45K	USD	1 Quarter
Net Operating Loss	`OperatingIncomeLoss`	$-305.38K	USD	2 Qtrs
Net Operating Loss	`OperatingIncomeLoss`	$-23.91K	USD	2 Qtrs
Net Operating Loss	`OperatingIncomeLoss`	$-7.48K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.26K	USD	2 Qtrs
Interest expense	`InterestExpense`	$200.36K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.00	USD	1 Quarter
Interest expense	`InterestExpense`	$384.06K	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-266.27K	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-333.34K	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-2.26K	USD	2 Qtrs
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-650.34K	USD	2 Qtrs
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-533.70K	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-4.00	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-755.15K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-7.49K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-26.17K	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-955.71K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-26.17K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-955.71K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-755.15K	USD	1 Quarter
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Net loss per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net loss per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Net loss per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Net loss per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	77.80M	shares	1 Quarter
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	77.79M	shares	2 Qtrs
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	63.15M	shares	2 Qtrs
Weighted average shares outstanding - basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	77.58M	shares	1 Quarter
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	63.15M	shares	2 Qtrs
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.58M	shares	1 Quarter
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.79M	shares	2 Qtrs
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.80M	shares	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-26.17K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-955.71K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-755.15K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$1.09K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	-	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-266.27K	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-333.34K	USD	1 Quarter
Amortization of discount on convertible debt	`AmortizationOfDebtDiscountPremium`	$368.59K	USD	2 Qtrs
Amortization of discount on convertible debt	`AmortizationOfDebtDiscountPremium`	$1.70K	USD	2 Qtrs
Penalty on debt extension	`OtherNoncashExpense`	-	USD	2 Qtrs
Penalty on debt extension	`OtherNoncashExpense`	$182.61K	USD	2 Qtrs
Imputed interest	`ImputedInterestDebt`	$557.00	USD	2 Qtrs
Imputed interest	`ImputedInterestDebt`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.15K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-45.00	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$8.75K	USD	2 Qtrs
Accrued officer salary	`IncreaseDecreaseInAccruedLiabilities`	$48.00K	USD	2 Qtrs
Accrued officer salary	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	$178.00	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	-	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$75.10K	USD	2 Qtrs
Other payable	`IncreaseDecreaseInOtherAccountsPayable`	$6.68K	USD	2 Qtrs
Other payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.67K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.29K	USD	2 Qtrs
Principal payments made on convertible notes	`RepaymentsOfConvertibleDebt`	-	USD	2 Qtrs
Principal payments made on convertible notes	`RepaymentsOfConvertibleDebt`	$50.00K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$14.50K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$70.00K	USD	2 Qtrs
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$1.19K	USD	2 Qtrs
Proceeds from convertible debt - related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$1.70K	USD	2 Qtrs
Proceeds from convertible debt - related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$17.39K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$100.00	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.67K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.53K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.20K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$100.00	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.53K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.20K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$100.00	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Discount on Convertible Debt and Accrued Interest	`DebtInstrumentConvertibleBeneficialConversionFeature`	-	USD	2 Qtrs
Discount on Convertible Debt and Accrued Interest	`DebtInstrumentConvertibleBeneficialConversionFeature`	$1.70K	USD	2 Qtrs
Stock issued for conversion of debt	`DebtConversionConvertedInstrumentAmount1`	-	USD	2 Qtrs
Stock issued for conversion of debt	`DebtConversionConvertedInstrumentAmount1`	$40.24K	USD	2 Qtrs
Stock issued for subscription receivable	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	2 Qtrs
Stock issued for subscription receivable	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$5.37K	USD	2 Qtrs
Discount from derivative	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$353.61K	USD	2 Qtrs
Discount from derivative	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	-	USD	2 Qtrs
Stock issued for commitment fee	`StockIssuedDuringPeriodValueOther`	$68.95K	USD	Point-in-time
Stock issued for commitment fee	`StockIssuedDuringPeriodValueOther`	$68.95K	USD	2 Qtrs
Stock issued for commitment fee	`StockIssuedDuringPeriodValueOther`	-	USD	2 Qtrs
Settlement of derivative	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	$451.79K	USD	2 Qtrs
Settlement of derivative	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	-	USD	2 Qtrs
Accrued interest capitalized into principal of convertible notes	`NotesIssued1`	$22.84K	USD	2 Qtrs
Accrued interest capitalized into principal of convertible notes	`NotesIssued1`	-	USD	2 Qtrs

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