10-K Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001262463-17-000215`
Period End Date	20170531
Filing Date	20170830
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	paxh-20170531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 30 Cash Flow Statement 42 Stockholders Equity 15

Balance Sheet 43 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`	$8.78K	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`	$7.15K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.78K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.15K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.67M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	18.23M	shares	Point-in-time
Intangible Software Costs	`IntangibleSoftwareCosts`	-	USD	Point-in-time
Intangible Software Costs	`IntangibleSoftwareCosts`	$34.05K	USD	Point-in-time
Total Other Assets	`OtherAssets`	-	USD	Point-in-time
Total Other Assets	`OtherAssets`	$34.05K	USD	Point-in-time
Total Assets	`Assets`	$8.78K	USD	Point-in-time
Total Assets	`Assets`	$41.20K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$222.07K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$131.22K	USD	Point-in-time
Accounts Payable and Accrued Liabilities Related Party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$960.38K	USD	Point-in-time
Accounts Payable and Accrued Liabilities Related Party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	-	USD	Point-in-time
Loans Payable	`NotesAndLoansPayableCurrent`	$410.45K	USD	Point-in-time
Loans Payable	`NotesAndLoansPayableCurrent`	$17.28K	USD	Point-in-time
Loans Payable - Related Party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Loans Payable - Related Party	`DueToRelatedPartiesCurrent`	$1.06M	USD	Point-in-time
Subscription payable	`CommonStockSharesSubscriptions`	-	USD	Point-in-time
Subscription payable	`CommonStockSharesSubscriptions`	$35.06K	USD	Point-in-time
Accrued Interest Loans Payable	`InterestPayableCurrent`	-	USD	Point-in-time
Accrued Interest Loans Payable	`InterestPayableCurrent`	$44.44K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.67M	USD	Point-in-time
Common stock	`CommonStockValue`	$19.67K	USD	Point-in-time
Common stock	`CommonStockValue`	$18.23K	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$1.99M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$2.68M	USD	Point-in-time
Accumulated other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.20K	USD	Point-in-time
Accumulated other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$52.75K	USD	Point-in-time
Retained Deficit	`RetainedEarningsAccumulatedDeficit`	$-3.96M	USD	Point-in-time
Retained Deficit	`RetainedEarningsAccumulatedDeficit`	$-3.70M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.63M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.66M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.20M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$41.20K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$8.78K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Consulting fees	`ConsultingFees`	$146.44K	USD	Annual
Consulting fees	`ConsultingFees`	$126.74K	USD	Annual
Professional fees	`ProfessionalFees`	$8.99K	USD	Annual
Professional fees	`ProfessionalFees`	$9.01K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$24.90K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$13.57K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$31.64K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$54.74K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$34.05K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$34.05K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$234.72K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$249.43K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-234.72K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-249.43K	USD	Annual
Commission income	`CommissionIncome`	-	USD	Annual
Commission income	`CommissionIncome`	-	USD	Annual
Interest expense	`InterestExpense`	$-30.88K	USD	Annual
Interest expense	`InterestExpense`	$-12.60K	USD	Annual
Total Other Income (Expenses)	`OtherIncomeExpenses`	$-30.88K	USD	Annual
Total Other Income (Expenses)	`OtherIncomeExpenses`	$-12.60K	USD	Annual
Net loss	`NetIncomeLoss`	$-265.60K	USD	Annual
Net loss	`NetIncomeLoss`	$-262.02K	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$4.45K	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$10.61K	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-254.99K	USD	Annual
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-257.57K	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`	17.79M	shares	Annual
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.10M	shares	Annual

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-265.60K	USD	Annual
Net loss	`NetIncomeLoss`	$-262.02K	USD	Annual
Shares issued for expenses	`SharesIssuedForExpenses`	-	USD	Annual
Shares issued for expenses	`SharesIssuedForExpenses`	$11.23K	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$34.05K	USD	Annual
Amortization	`AmortizationOfIntangibleAssets`	$34.05K	USD	Annual
Increase (decrease) in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$127.03K	USD	Annual
Increase (decrease) in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$98.38K	USD	Annual
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.50K	USD	Annual
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-853.00	USD	Annual
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$12.06K	USD	Annual
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$30.09K	USD	Annual
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.69K	USD	Annual
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-118.39K	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash received for common shares	`ProceedsFromIssuanceOrSaleOfEquity`	$57.53K	USD	Annual
Cash received for common shares	`ProceedsFromIssuanceOrSaleOfEquity`	$121.94K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$57.53K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$121.94K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.93K	USD	Annual
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.25K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$1.63K	USD	Annual
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$4.09K	USD	Annual
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.78K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.15K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.06K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.78K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.15K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.06K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Accounts payable related party converted to loan payable	`AccountsPayableRelatedPartyConvertedToLoanPayable`	$1.06M	USD	Annual
Accounts payable related party converted to loan payable	`AccountsPayableRelatedPartyConvertedToLoanPayable`	-	USD	Annual
Shares issued for stock subscriptions	`SharesIssuedForStockSubscriptions`	-	USD	Annual
Shares issued for stock subscriptions	`SharesIssuedForStockSubscriptions`	$35.06K	USD	Annual
Common stock Issued for Debt including interest	`DebtConversionOriginalDebtAmount1`	-	USD	Annual
Common stock Issued for Debt including interest	`DebtConversionOriginalDebtAmount1`	$513.76K	USD	Annual
Forgiveness of Interest	`DebtInstrumentDecreaseForgiveness`	$19.52K	USD	Annual
Forgiveness of Interest	`DebtInstrumentDecreaseForgiveness`	-	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-1.63M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.66M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.20M	USD	Point-in-time
Foreign currency translation	`ForeignCurrencyTransactionGainLossUnrealized`	$10.61K	USD	Annual
Foreign currency translation	`ForeignCurrencyTransactionGainLossUnrealized`	$4.45K	USD	Annual
Forgiveness of Interest	`DebtInstrumentDecreaseForgiveness`	$19.52K	USD	Annual
Forgiveness of Interest	`DebtInstrumentDecreaseForgiveness`	-	USD	Annual
Common shares issued, value	`StockIssuedDuringPeriodValueNewIssues`	$155.85K	USD	Annual
Common shares issued, value	`StockIssuedDuringPeriodValueNewIssues`	$288.40K	USD	Annual
Common shares issued for debt, value	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments`	$514.92K	USD	Annual
Net loss	`NetIncomeLoss`	$-265.60K	USD	Annual
Net loss	`NetIncomeLoss`	$-262.02K	USD	Annual
Balance, amount	`StockholdersEquity`	$-1.63M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.66M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.20M	USD	Point-in-time

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