10-K Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001262463-14-000249`
Period End Date	20130531
Filing Date	20140401
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	paxh-20130531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 56 Cash Flow Statement 78 Stockholders Equity 33

Balance Sheet 46 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
Cash	`Cash`	$13.25K	USD	Point-in-time
Cash	`Cash`	$8.47K	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
Total Current Assets	`AssetsCurrent`	$13.25K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.65M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.65M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.47K	USD	Point-in-time
Deposits	`DepositAssets`	-	USD	Point-in-time
Deposits	`DepositAssets`	-	USD	Point-in-time
Intangible Software Costs	`IntangibleSoftwareCosts`	-	USD	Point-in-time
Intangible Software Costs	`IntangibleSoftwareCosts`	$102.15K	USD	Point-in-time
Total Other Assets	`OtherAssets`	-	USD	Point-in-time
Total Other Assets	`OtherAssets`	$102.15K	USD	Point-in-time
Total Assets	`Assets`	$115.40K	USD	Point-in-time
Total Assets	`Assets`	$8.47K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$129.25K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$156.69K	USD	Point-in-time
Accounts Payable and Accrued Liabilities Related Party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$627.52K	USD	Point-in-time
Accounts Payable and Accrued Liabilities Related Party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$817.09K	USD	Point-in-time
Loan Payable	`NotesAndLoansPayableCurrent`	$459.79K	USD	Point-in-time
Loan Payable	`NotesAndLoansPayableCurrent`	$433.13K	USD	Point-in-time
Accrued Interest Loans Payable	`InterestPayableCurrent`	$8.99K	USD	Point-in-time
Accrued Interest Loans Payable	`InterestPayableCurrent`	$5.33K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.20M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.44M	USD	Point-in-time
Capital stock	`CommonStockValue`	$17.65K	USD	Point-in-time
Capital stock	`CommonStockValue`	$17.65K	USD	Point-in-time
Stock Subscription Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$-170.00	USD	Point-in-time
Stock Subscription Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$1.62M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$1.71M	USD	Point-in-time
Accumulated other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.54K	USD	Point-in-time
Accumulated other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.24K	USD	Point-in-time
Deficit Accumulated During the Development Stage	`RetainedEarningsAccumulatedDeficit`	$-3.05M	USD	Point-in-time
Deficit Accumulated During the Development Stage	`RetainedEarningsAccumulatedDeficit`	$-2.82M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$27.91K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$8.47K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$115.40K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Consulting fees	`ConsultingFees`	$139.19K	USD	Annual
Consulting fees	`ConsultingFees`	$120.00K	USD	Annual
Consulting fees	`ConsultingFees`	$702.87K	USD	21 Qtrs
Professional fees	`ProfessionalFees`	$16.25K	USD	Annual
Professional fees	`ProfessionalFees`	$36.33K	USD	Annual
Professional fees	`ProfessionalFees`	$338.80K	USD	21 Qtrs
Office and administration	`GeneralAndAdministrativeExpense`	$309.96K	USD	21 Qtrs
Office and administration	`GeneralAndAdministrativeExpense`	$78.13K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$27.02K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.26M	USD	21 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$240.60K	USD	Annual
Wages and benefits	`SalariesAndWages`	$299.81K	USD	21 Qtrs
Wages and benefits	`SalariesAndWages`	$65.28K	USD	Annual
Wages and benefits	`SalariesAndWages`	$39.26K	USD	Annual
Rent	`LeaseAndRentalExpense`	$55.86K	USD	21 Qtrs
Rent	`LeaseAndRentalExpense`	$18.54K	USD	Annual
Rent	`LeaseAndRentalExpense`	$4.39K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$558.88K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$226.11K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$2.96M	USD	21 Qtrs
Operating loss	`OperatingIncomeLoss`	$-226.11K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-2.96M	USD	21 Qtrs
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	21 Qtrs
Interest income	`InterestIncomeOperating`	-	USD	Annual
Interest income	`InterestIncomeOperating`	$1.00	USD	Annual
Interest income	`InterestIncomeOperating`	$639.00	USD	21 Qtrs
Interest expense	`InterestExpense`	$-12.70K	USD	Annual
Interest expense	`InterestExpense`	$-3.66K	USD	Annual
Interest expense	`InterestExpense`	$-62.45K	USD	21 Qtrs
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	$-23.60K	USD	21 Qtrs
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	$4.07K	USD	Annual
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	$1.77K	USD	Annual
Total Other Income (Expenses)	`OtherIncome`	$408.00	USD	Annual
Total Other Income (Expenses)	`OtherIncome`	$-10.88K	USD	Annual
Total Other Income (Expenses)	`OtherIncome`	$-85.36K	USD	21 Qtrs
Net loss	`NetIncomeLoss`	$-225.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Net loss	`NetIncomeLoss`	$-569.76K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.05M	USD	21 Qtrs
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$978.00	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$-1.24K	USD	21 Qtrs
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$305.00	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-568.79K	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-225.40K	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-3.05M	USD	21 Qtrs
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	Annual
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	17.65M	shares	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	17.65M	shares	Annual

Cash Flow Statement 78 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-225.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Net loss	`NetIncomeLoss`	$-569.76K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.05M	USD	21 Qtrs
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$28.50K	USD	21 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Decrease (increase) in trade receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Decrease (increase) in trade receivables	`IncreaseDecreaseInOtherReceivables`	$4.30K	USD	21 Qtrs
Decrease (increase) in trade receivables	`IncreaseDecreaseInOtherReceivables`	-	USD	Annual
Decrease (increase) in rent deposit	`IncreaseDecreaseInPrepaidRent`	-	USD	Annual
Decrease (increase) in rent deposit	`IncreaseDecreaseInPrepaidRent`	-	USD	21 Qtrs
Decrease (increase) in rent deposit	`IncreaseDecreaseInPrepaidRent`	-	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.25M	USD	21 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$244.00K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$189.57K	USD	Annual
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-19.15K	USD	Annual
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$27.45K	USD	Annual
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$243.31K	USD	21 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$12.70K	USD	Annual
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$38.61K	USD	21 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$3.66K	USD	Annual
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.03K	USD	Annual
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.48M	USD	21 Qtrs
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-328.03K	USD	Annual
Cash to Acquire Software	`PaymentsToAcquireAssetsInvestingActivities`	-	USD	Annual
Cash to Acquire Software	`PaymentsToAcquireAssetsInvestingActivities`	$-102.15K	USD	21 Qtrs
Cash to Acquire Software	`PaymentsToAcquireAssetsInvestingActivities`	$-102.15K	USD	Annual
Cash Received from note receivable	`ProceedsFromCollectionOfNotesReceivable`	$49.28K	USD	21 Qtrs
Cash Received from note receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	Annual
Cash Received from note receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	Annual
Cash Acquired from business combination	`CashAcquiredFromBusinessCombination`	-	USD	Annual
Cash Acquired from business combination	`CashAcquiredFromBusinessCombination`	-	USD	Annual
Cash Acquired from business combination	`CashAcquiredFromBusinessCombination`	$86.69K	USD	21 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-102.15K	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$33.82K	USD	21 Qtrs
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	$-4.00	USD	21 Qtrs
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	$-19.29K	USD	Annual
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	Annual
Proceeds from loan payable related party	`ProceedsFromRelatedPartyDebt`	$146.46K	USD	21 Qtrs
Proceeds from loan payable related party	`ProceedsFromRelatedPartyDebt`	$6.96K	USD	Annual
Proceeds from loan payable related party	`ProceedsFromRelatedPartyDebt`	$26.66K	USD	Annual
Repayment of loan payable	`RepaymentsOfDebt`	-	USD	Annual
Repayment of loan payable	`RepaymentsOfDebt`	-	USD	Annual
Repayment of loan payable	`RepaymentsOfDebt`	$-25.00K	USD	21 Qtrs
Proceeds from loan payable Convertible Debenture	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from loan payable Convertible Debenture	`ProceedsFromConvertibleDebt`	$46.51K	USD	21 Qtrs
Proceeds from loan payable Convertible Debenture	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$345.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$85.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.28M	USD	21 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$111.66K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$332.67K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.45M	USD	21 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.34K	USD	21 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$6.81K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$305.00	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$11.45K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$13.25K	USD	21 Qtrs
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$4.78K	USD	Annual
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.45K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.25K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.45K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.25K	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`	-	USD	Annual
Common stock issued for acquisition of subsidiary	`StockIssuedDuringPeriodValueAcquisitions`	$12.00K	USD	21 Qtrs
Common stock issued for debt	`StockIssued1`	-	USD	Annual
Common stock issued for debt	`StockIssued1`	$369.57K	USD	21 Qtrs
Common stock issued for debt	`StockIssued1`	-	USD	Annual

Stockholders Equity 33 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$27.91K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$120.00K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$345.00K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$85.00K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$722.50K	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`	$978.00	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-2.11K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-810.00	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$305.00	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$1.29K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-896.00	USD	Annual
Net loss	`NetIncomeLoss`	$-225.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Net loss	`NetIncomeLoss`	$-569.76K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.05M	USD	21 Qtrs
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Balance, amount	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$27.91K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.33M	USD	Point-in-time

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