10-K Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001262463-14-000849`
Period End Date	20140531
Filing Date	20140829
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	paxh-20140531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 43 Cash Flow Statement 47 Stockholders Equity 35

Balance Sheet 45 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`	$8.53K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	$13.25K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.53K	USD	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
Intangible Software Costs	`IntangibleSoftwareCosts`	$102.15K	USD	Point-in-time
Intangible Software Costs	`IntangibleSoftwareCosts`	$102.15K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$102.15K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$102.15K	USD	Point-in-time
Total Assets	`Assets`	$110.68K	USD	Point-in-time
Total Assets	`Assets`	$115.40K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$156.69K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$183.72K	USD	Point-in-time
Accounts Payable and Accrued Liabilities Related Party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$961.44K	USD	Point-in-time
Accounts Payable and Accrued Liabilities Related Party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$817.09K	USD	Point-in-time
Loan Payable	`NotesAndLoansPayableCurrent`	$446.52K	USD	Point-in-time
Loan Payable	`NotesAndLoansPayableCurrent`	$459.79K	USD	Point-in-time
Accrued Interest Loans Payable	`InterestPayableCurrent`	$8.99K	USD	Point-in-time
Accrued Interest Loans Payable	`InterestPayableCurrent`	$12.50K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.60M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.44M	USD	Point-in-time
Common stock	`CommonStockValue`	$17.65K	USD	Point-in-time
Common stock	`CommonStockValue`	$17.65K	USD	Point-in-time
Stock Subscription Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Stock Subscription Receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$1.71M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$1.71M	USD	Point-in-time
Accumulated other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$14.14K	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`	$-3.23M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.19M	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`	$27.91K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.49M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$110.68K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$115.40K	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Consulting fees	`ConsultingFees`	$139.19K	USD	Annual
Consulting fees	`ConsultingFees`	$125.50K	USD	Annual
Professional fees	`ProfessionalFees`	$16.25K	USD	Annual
Professional fees	`ProfessionalFees`	$28.71K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$27.02K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$15.42K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	-	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$39.66K	USD	Annual
Wages and benefits	`SalariesAndWages`	$39.26K	USD	Annual
Wages and benefits	`SalariesAndWages`	-	USD	Annual
Rent	`LeaseAndRentalExpense`	-	USD	Annual
Rent	`LeaseAndRentalExpense`	$4.39K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$226.11K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$209.29K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-209.29K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-226.11K	USD	Annual
Commission income	`CommissionIncome`	-	USD	Annual
Commission income	`CommissionIncome`	-	USD	Annual
Interest income	`InterestIncomeOperating`	$1.00	USD	Annual
Interest income	`InterestIncomeOperating`	$1.00	USD	Annual
Interest expense	`InterestExpense`	$-3.50K	USD	Annual
Interest expense	`InterestExpense`	$-3.66K	USD	Annual
Other Income	`OtherIncome`	-	USD	Annual
Other Income	`OtherIncome`	$31.09K	USD	Annual
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	$4.07K	USD	Annual
Foreign currency transaction income (expense)	`ForeignCurrencyTransactionGainBeforeTax`	-	USD	Annual
Total Other Income (Expenses)	`OtherIncomeExpenses`	$65.85K	USD	Annual
Total Other Income (Expenses)	`OtherIncomeExpenses`	$409.00	USD	Annual
Net loss	`NetIncomeLoss`	$-181.70K	USD	Annual
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-225.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-569.76K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$15.38K	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$305.00	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-166.33K	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-225.40K	USD	Annual
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.65M	shares	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	17.65M	shares	Annual

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-181.70K	USD	Annual
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-225.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-569.76K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Gain on settlement	`GainsLossesOnExtinguishmentOfDebt`	$31.09K	USD	Annual
Gain on settlement	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$220.68K	USD	Annual
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$119.44K	USD	Annual
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.03K	USD	Annual
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-31.18K	USD	Annual
Cash to Acquire Software	`PaymentsToAcquireAssetsInvestingActivities`	$-102.15K	USD	Annual
Cash to Acquire Software	`PaymentsToAcquireAssetsInvestingActivities`	-	USD	Annual
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 flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-102.15K	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	Annual
Overdraft in bank	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	Annual
Proceeds from loan payable related party	`ProceedsFromRelatedPartyDebt`	$25.00K	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`	$-13.92K	USD	Annual
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`	-	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$85.00K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.08K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$111.66K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$15.38K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$305.00	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$4.78K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$-4.72K	USD	Annual
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.47K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.25K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.53K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.47K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.25K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.53K	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 debt	`StockIssued1`	-	USD	Annual
Common stock issued for debt	`StockIssued1`	-	USD	Annual

Stockholders Equity 35 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$27.91K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.49M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$345.00K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$722.50K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$120.00K	USD	Annual
Common shares issued for cash, amount	`StockIssuedDuringPeriodValueIssuedForCash`	$85.00K	USD	Annual
Common shares issued to reduce debt, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$25.00K	USD	Annual
Common shares issued to reduce debt, amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$344.57K	USD	Annual
Warrants issued with convertible debt	`WarrantsIssuedWithConvertibleDebt`	$28.50K	USD	Annual
Stock subscriptions receivable, amount	`StockSubscriptionsReceivableAmountShares`	-	shares	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$1.29K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$978.00	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-2.11K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-896.00	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$305.00	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-810.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-181.70K	USD	Annual
Net loss	`NetIncomeLoss`	$-333.98K	USD	Annual
Net loss	`NetIncomeLoss`	$-225.71K	USD	Annual
Net loss	`NetIncomeLoss`	$-743.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-24.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-569.76K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.15M	USD	Annual
Balance, amount	`StockholdersEquity`	$-1.19M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-900.37K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-276.29K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$27.91K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.31M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.49M	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.