10-K Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001262463-13-000580`
Period End Date	20120531
Filing Date	20130829
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	prex-20120531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 52 Cash Flow Statement 74 Stockholders Equity 28

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	$11.18K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.18K	USD	Point-in-time
Total current assets	`AssetsCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	16.68M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.55M	shares	Point-in-time
Deposits	`DepositAssets`	$1.21K	USD	Point-in-time
Deposits	`DepositAssets`	$1.48K	USD	Point-in-time
Total other assets	`OtherAssets`	$1.48K	USD	Point-in-time
Total other assets	`OtherAssets`	$1.21K	USD	Point-in-time
Total assets	`Assets`	$1.21K	USD	Point-in-time
Total assets	`Assets`	$12.66K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$19.30K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$129.25K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$148.40K	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	$985.81K	USD	Point-in-time
Accounts payable related party	`AccountsPayableRelatedPartiesCurrent`	$1.06M	USD	Point-in-time
Loan payable related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Loan payable related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$86.49K	USD	Point-in-time
Accrued interest loans payable	`InterestPayableCurrent`	$5.33K	USD	Point-in-time
Accrued interest loans payable	`InterestPayableCurrent`	$9.62K	USD	Point-in-time
Convertible note payable - including accrued interest, net of discount	`ConvertibleNotePayableIncludingAccruedInterestNetOfDiscount`	-	USD	Point-in-time
Convertible note payable - including accrued interest, net of discount	`ConvertibleNotePayableIncludingAccruedInterestNetOfDiscount`	$59.13K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.20M	USD	Point-in-time
Common stock	`CommonStockValue`	$16.62K	USD	Point-in-time
Common stock	`CommonStockValue`	$17.55K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$932.09K	USD	Point-in-time
Stock subscription receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$-170.00	USD	Point-in-time
Stock subscription receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.54K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.52K	USD	Point-in-time
Deficit accumulated during the development stage	`RetainedEarningsAccumulatedDeficit`	$-2.25M	USD	Point-in-time
Deficit accumulated during the development stage	`RetainedEarningsAccumulatedDeficit`	$-2.82M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.18M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$27.91K	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$1.21K	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$12.66K	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Consulting fees	`ConsultingFees`	$120.00K	USD	Annual
Consulting fees	`ConsultingFees`	$120.00K	USD	Annual
Consulting fees	`ConsultingFees`	$563.69K	USD	17 Qtrs
Professional fees	`ProfessionalFees`	$322.55K	USD	17 Qtrs
Professional fees	`ProfessionalFees`	$126.88K	USD	Annual
Professional fees	`ProfessionalFees`	$36.33K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$78.13K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$95.63K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$282.66K	USD	17 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.26M	USD	17 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$649.32K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$240.60K	USD	Annual
Wages and benefits	`SalariesAndWages`	$102.79K	USD	Annual
Wages and benefits	`SalariesAndWages`	$260.55K	USD	17 Qtrs
Wages and benefits	`SalariesAndWages`	$65.28K	USD	Annual
Rent	`LeaseAndRentalExpense`	$18.54K	USD	Annual
Rent	`LeaseAndRentalExpense`	$50.26K	USD	17 Qtrs
Rent	`LeaseAndRentalExpense`	$17.84K	USD	Annual
Total expenses	`OperatingExpenses`	$2.74M	USD	17 Qtrs
Total expenses	`OperatingExpenses`	$1.11M	USD	Annual
Total expenses	`OperatingExpenses`	$558.88K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-2.74M	USD	17 Qtrs
Operating loss	`OperatingIncomeLoss`	$-1.11M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-558.88K	USD	Annual
Commission income	`CommissionIncome`	$47.00	USD	Annual
Commission income	`CommissionIncome`	-	USD	Annual
Commission income	`CommissionIncome`	$47.00	USD	17 Qtrs
Interest income	`InterestIncomeOperating`	$1.00	USD	Annual
Interest income	`InterestIncomeOperating`	$19.00	USD	Annual
Interest income	`InterestIncomeOperating`	$639.00	USD	17 Qtrs
Interest expense	`InterestExpense`	$-7.85K	USD	Annual
Interest expense	`InterestExpense`	$-12.70K	USD	Annual
Interest expense	`InterestExpense`	$-58.79K	USD	17 Qtrs
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	$-32.26K	USD	Annual
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	$-24.96K	USD	17 Qtrs
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	$5.96K	USD	Annual
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.82M	USD	17 Qtrs
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-565.58K	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$978.00	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$-1.54K	USD	17 Qtrs
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$-2.11K	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-2.82M	USD	17 Qtrs
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-564.60K	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-1.15M	USD	Annual
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	16.12M	shares	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	17.15M	shares	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.82M	USD	17 Qtrs
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-565.58K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$28.50K	USD	17 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Trade receivables	`IncreaseDecreaseInOtherReceivables`	$4.30K	USD	17 Qtrs
Trade receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Trade receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Rent deposit	`IncreaseDecreaseInPrepaidRent`	$-1.48K	USD	17 Qtrs
Rent deposit	`IncreaseDecreaseInPrepaidRent`	$-271.00	USD	Annual
Rent deposit	`IncreaseDecreaseInPrepaidRent`	-	USD	Annual
Accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$244.00K	USD	Annual
Accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$374.37K	USD	Annual
Accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.06M	USD	17 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$215.86K	USD	17 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-19.15K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.93K	USD	Annual
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$7.85K	USD	Annual
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$12.70K	USD	Annual
Accrued interest	`IncreaseDecreaseInAccruedInterestReceivableNet`	$34.95K	USD	17 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-755.41K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.47M	USD	17 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-328.30K	USD	Annual
Cash received from note receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	Annual
Cash received from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$49.28K	USD	17 Qtrs
Cash received from note receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	Annual
Cash acquired from business combination	`CashAcquiredFromBusinessCombination`	$86.69K	USD	17 Qtrs
Cash acquired from business combination	`CashAcquiredFromBusinessCombination`	-	USD	Annual
Cash acquired from business combination	`CashAcquiredFromBusinessCombination`	-	USD	Annual
Cash flow provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flow provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flow provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$135.97K	USD	17 Qtrs
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	$-4.00	USD	17 Qtrs
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	$-19.29K	USD	Annual
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	$19.28K	USD	Annual
Proceeds from loan payable related party	`ProceedsFromRelatedPartyDebt`	$6.96K	USD	Annual
Proceeds from loan payable related party	`ProceedsFromRelatedPartyDebt`	$9.58K	USD	Annual
Proceeds from loan payable related party	`ProceedsFromRelatedPartyDebt`	$119.80K	USD	17 Qtrs
Repayment of loan payable	`RepaymentsOfDebt`	-	USD	Annual
Repayment of loan payable	`RepaymentsOfDebt`	$-25.00K	USD	17 Qtrs
Repayment of loan payable	`RepaymentsOfDebt`	-	USD	Annual
Proceeds from loan payable convertible debenture	`ProceedsFromConvertibleDebt`	$46.51K	USD	17 Qtrs
Proceeds from loan payable convertible debenture	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from loan payable convertible debenture	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.20M	USD	17 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$722.50K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$345.00K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$332.67K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$751.36K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.34M	USD	17 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.03K	USD	17 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.81K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$-4.05K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$11.18K	USD	17 Qtrs
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$11.18K	USD	Annual
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.05K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.18K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.05K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.18K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common stock issued for acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Common stock issued for acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	$12.00K	USD	17 Qtrs
Common stock issued for acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Common stock issued for debt	`StockIssued1`	$25.00K	USD	Annual
Common stock issued for debt	`StockIssued1`	$344.57K	USD	Annual
Common stock issued for debt	`StockIssued1`	$369.57K	USD	17 Qtrs

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.18M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$27.91K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$722.50K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$345.00K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$120.00K	USD	Annual
Common shares issued to reduce debt, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$344.57K	USD	Annual
Common shares issued to reduce debt, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$25.00K	USD	Annual
Warrants issued with convertible debt	`WarrantsIssuedWithConvertibleDebt`	$28.50K	USD	Annual
Stock subscriptions receivable, amount	`StockSubscriptionsReceivableAmountShares`	-	shares	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-2.11K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$1.29K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$978.00	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-810.00	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-896.00	USD	Annual
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.82M	USD	17 Qtrs
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-565.58K	USD	Annual
Balance, amount	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.18M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$27.91K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.31M	USD	Point-in-time

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