10-Q Filing

SRX HEALTH SOLUTIONS, INC. CIK: 1471727 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001185185-18-000701`
Period End Date	20180228
Filing Date	20180416
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	senz-20180228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 72 Cash Flow Statement 70

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Convertible Notes, unamortized debt discounts (in Dollars)	`DebtInstrumentUnamortizedDiscount`	$801.96K	USD	Point-in-time
Convertible Notes, unamortized debt discounts (in Dollars)	`DebtInstrumentUnamortizedDiscount`	$153.23K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.44K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$253.43K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.53K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.20K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	1,000.00	shares	Point-in-time
Inventory	`InventoryNet`	$14.88K	USD	Point-in-time
Inventory	`InventoryNet`	$14.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$268.10K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	1,000.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$16.32K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Assets	`Assets`	$268.10K	USD	Point-in-time
Total Assets	`Assets`	$16.32K	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
Common stock, shares issued	`CommonStockSharesIssued`	79.68M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	78.23M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$132.57K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	78.23M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	79.68M	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$81.48K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.33M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$312.88K	USD	Point-in-time
Accrued officer salary	`DueToOfficersOrStockholdersCurrent`	$120.00K	USD	Point-in-time
Accrued officer salary	`DueToOfficersOrStockholdersCurrent`	$160.00K	USD	Point-in-time
Notes payable and accrued interest - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$169.52K	USD	Point-in-time
Notes payable and accrued interest - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$233.01K	USD	Point-in-time
Convertible notes, net of unamortized debt discounts of $801,959 and $153,234	`ConvertibleNotesPayableCurrent`	$400.74K	USD	Point-in-time
Convertible notes, net of unamortized debt discounts of $801,959 and $153,234	`ConvertibleNotesPayableCurrent`	$212.24K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.95M	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, 2018 and August 31, 2017	`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, 2018 and August 31, 2017	`PreferredStockValue`	$1.00	USD	Point-in-time
Common stock, $0.001 par value, 580,000,000 shares authorized 79,683,842 shares issued and outstanding as of February 28, 2018 and 78,226,969 at August 31, 2017	`CommonStockValue`	$78.23K	USD	Point-in-time
Common stock, $0.001 par value, 580,000,000 shares authorized 79,683,842 shares issued and outstanding as of February 28, 2018 and 78,226,969 at August 31, 2017	`CommonStockValue`	$79.68K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.41M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.85M	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`	$-4.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.11M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.18M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-1.68M	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$268.10K	USD	Point-in-time
Total liabilities and stockholders equity (deficit)	`LiabilitiesAndStockholdersEquity`	$16.32K	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$261.00	USD	1 Quarter
Revenue	`Revenues`	$90.00	USD	1 Quarter
Revenue	`Revenues`	$475.00	USD	2 Qtrs
Revenue	`Revenues`	$320.00	USD	2 Qtrs
Cost of good sold	`CostOfGoodsSold`	$211.00	USD	2 Qtrs
Cost of good sold	`CostOfGoodsSold`	$184.00	USD	1 Quarter
Cost of good sold	`CostOfGoodsSold`	$93.00	USD	2 Qtrs
Cost of good sold	`CostOfGoodsSold`	$59.00	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$77.00	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$31.00	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$227.00	USD	2 Qtrs
Net revenue	`SalesRevenueNet`	$264.00	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$44.61K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$192.35K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$88.33K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$258.50K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$47.10K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$63.39K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$29.12K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$21.86K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$305.60K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$66.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$221.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$151.72K	USD	2 Qtrs
Net Operating Loss	`OperatingIncomeLoss`	$-151.46K	USD	2 Qtrs
Net Operating Loss	`OperatingIncomeLoss`	$-221.45K	USD	1 Quarter
Net Operating Loss	`OperatingIncomeLoss`	$-66.40K	USD	1 Quarter
Net Operating Loss	`OperatingIncomeLoss`	$-305.38K	USD	2 Qtrs
Interest expense	`InterestExpense`	$384.06K	USD	2 Qtrs
Interest expense	`InterestExpense`	$200.36K	USD	1 Quarter
Interest expense	`InterestExpense`	$449.14K	USD	2 Qtrs
Interest expense	`InterestExpense`	$768.13K	USD	1 Quarter
Gain on restructuring of debt	`GainsLossesOnRestructuringOfDebt`	-	USD	1 Quarter
Gain on restructuring of debt	`GainsLossesOnRestructuringOfDebt`	$139.32K	USD	1 Quarter
Gain on restructuring of debt	`GainsLossesOnRestructuringOfDebt`	$139.32K	USD	2 Qtrs
Gain on restructuring of debt	`GainsLossesOnRestructuringOfDebt`	-	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-256.29K	USD	1 Quarter
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-266.27K	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-600.92K	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-333.34K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$-885.09K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$-533.70K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$-910.74K	USD	2 Qtrs
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$-650.34K	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.06M	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-951.49K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-955.71K	USD	2 Qtrs
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-755.15K	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
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-755.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-955.71K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.06M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-951.49K	USD	1 Quarter
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Net loss per share - basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
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`	$-0.01	USD	2 Qtrs
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`	$-0.01	USD	1 Quarter
Net loss per share - diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	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`	78.71M	shares	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`	79.02M	shares	1 Quarter
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	78.71M	shares	2 Qtrs
Weighted average shares outstanding - diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	79.02M	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 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-755.15K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-955.71K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.06M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-951.49K	USD	1 Quarter
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-256.29K	USD	1 Quarter
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-266.27K	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-600.92K	USD	2 Qtrs
Change in fair value of derivative liability	`DerivativeGainLossOnDerivativeNet`	$-333.34K	USD	1 Quarter
Amortization of discount on convertible debt	`AmortizationOfDebtDiscountPremium`	$397.81K	USD	2 Qtrs
Amortization of discount on convertible debt	`AmortizationOfDebtDiscountPremium`	$368.59K	USD	2 Qtrs
Gain on note exchange	`GainsLossesOnRestructuringOfDebt`	-	USD	1 Quarter
Gain on note exchange	`GainsLossesOnRestructuringOfDebt`	$139.32K	USD	1 Quarter
Gain on note exchange	`GainsLossesOnRestructuringOfDebt`	$139.32K	USD	2 Qtrs
Gain on note exchange	`GainsLossesOnRestructuringOfDebt`	-	USD	2 Qtrs
Penalty on debt extension	`OtherNoncashExpense`	$182.61K	USD	2 Qtrs
Penalty on debt extension	`OtherNoncashExpense`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-45.00	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-211.00	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$8.75K	USD	2 Qtrs
Accrued officer salary	`IncreaseDecreaseInAccruedLiabilities`	$40.00K	USD	2 Qtrs
Accrued officer salary	`IncreaseDecreaseInAccruedLiabilities`	$48.00K	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	$178.00	USD	2 Qtrs
Interest payable - related party	`IncreaseDecreaseInInterestPayableNet`	$1.01K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.45K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$75.10K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-166.01K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.67K	USD	2 Qtrs
Payments to acquire assets	`PaymentsToAcquireProductiveAssets`	-	USD	2 Qtrs
Payments to acquire assets	`PaymentsToAcquireProductiveAssets`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	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	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	2 Qtrs
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$27.00K	USD	Point-in-time
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$134.00K	USD	1 Quarter
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$70.00K	USD	2 Qtrs
Proceeds from notes payable - related party	`ProceedsFromRelatedPartyDebt`	$35.50K	USD	2 Qtrs
Repayments of notes payable - related party	`RepaymentsOfRelatedPartyDebt`	$100.00K	USD	2 Qtrs
Repayments of notes payable - related party	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from convertible debt	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from convertible debt	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$482.50K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$20.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$418.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.67K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$251.99K	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.44K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$253.43K	USD	Point-in-time
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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.44K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$253.43K	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
Interest paid	`InterestPaid`	$1.09K	USD	2 Qtrs
Interest paid	`InterestPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Common stock issued for conversion of notes payable and accrued interest	`DebtConversionConvertedInstrumentAmount1`	-	USD	2 Qtrs
Common stock issued for conversion of notes payable and accrued interest	`DebtConversionConvertedInstrumentAmount1`	$84.96K	USD	2 Qtrs
Discount on Convertible Debt and Accrued Interest	`DebtInstrumentConvertibleBeneficialConversionFeature`	$891.17K	USD	2 Qtrs
Discount on Convertible Debt and Accrued Interest	`DebtInstrumentConvertibleBeneficialConversionFeature`	$353.61K	USD	2 Qtrs
Stock issued for commitment fee	`StockIssued1`	-	USD	2 Qtrs
Stock issued for commitment fee	`StockIssued1`	$68.95K	USD	2 Qtrs
Settlement of derivative	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	$476.94K	USD	2 Qtrs
Settlement of derivative	`EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity`	$451.79K	USD	2 Qtrs
Accrued interest capitalized into principal of convertible notes	`InterestCostsCapitalized`	$22.84K	USD	2 Qtrs
Accrued interest capitalized into principal of convertible notes	`InterestCostsCapitalized`	$15.82K	USD	2 Qtrs

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