10-Q Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001262463-18-000103`
Period End Date	20180228
Filing Date	20180416
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	paxh-20180228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 34 Income Statement 56 Cash Flow Statement 46

Balance Sheet 34 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
Cash	`Cash`	$1.68K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	$8.78K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.78K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.67M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.68K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.67M	shares	Point-in-time
Total Assets	`Assets`	$1.68K	USD	Point-in-time
Total Assets	`Assets`	$8.78K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$131.22K	USD	Point-in-time
Accounts Payable and Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$131.22K	USD	Point-in-time
Accounts Payable Related Party	`AccountsPayableRelatedPartiesCurrent`	$81.58K	USD	Point-in-time
Accounts Payable Related Party	`AccountsPayableRelatedPartiesCurrent`	-	USD	Point-in-time
Loans Payable - Shareholders	`NotesAndLoansPayableCurrent`	$71.52K	USD	Point-in-time
Loans Payable - Shareholders	`NotesAndLoansPayableCurrent`	$17.28K	USD	Point-in-time
Convertible Note Payable - Related Party	`DueToRelatedPartiesCurrent`	$1.06M	USD	Point-in-time
Convertible Note Payable - Related Party	`DueToRelatedPartiesCurrent`	$1.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.34M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.21M	USD	Point-in-time
Common stock	`CommonStockValue`	$19.67K	USD	Point-in-time
Common stock	`CommonStockValue`	$19.67K	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$2.68M	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`	$57.20K	USD	Point-in-time
Retained Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.10M	USD	Point-in-time
Retained Deficit	`RetainedEarningsAccumulatedDeficit`	$-3.96M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.20M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-1.34M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$1.68K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$8.78K	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Consulting fees	`ConsultingFees`	$31.91K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$96.45K	USD	3 Qtrs
Consulting fees	`ConsultingFees`	$94.00K	USD	3 Qtrs
Consulting fees	`ConsultingFees`	$32.00K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$7.49K	USD	3 Qtrs
Professional Fees	`ProfessionalFees`	$1.49K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$5.08K	USD	3 Qtrs
Professional Fees	`ProfessionalFees`	$1.59K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$19.29K	USD	3 Qtrs
Office and administration	`GeneralAndAdministrativeExpense`	$6.74K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$7.11K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$20.02K	USD	3 Qtrs
Research and Development	`ResearchAndDevelopmentExpense`	$38.21K	USD	3 Qtrs
Research and Development	`ResearchAndDevelopmentExpense`	$9.46K	USD	1 Quarter
Research and Development	`ResearchAndDevelopmentExpense`	$18.18K	USD	1 Quarter
Research and Development	`ResearchAndDevelopmentExpense`	$22.10K	USD	3 Qtrs
Amortization of Software	`AmortizationOfIntangibleAssets`	-	USD	3 Qtrs
Amortization of Software	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of Software	`AmortizationOfIntangibleAssets`	$25.54K	USD	3 Qtrs
Amortization of Software	`AmortizationOfIntangibleAssets`	$8.51K	USD	1 Quarter
Total Operating Loss	`OperatingExpenses`	$-50.07K	USD	1 Quarter
Total Operating Loss	`OperatingExpenses`	$-185.26K	USD	3 Qtrs
Total Operating Loss	`OperatingExpenses`	$-66.92K	USD	1 Quarter
Total Operating Loss	`OperatingExpenses`	$-142.91K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-66.92K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-185.26K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-142.91K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-50.07K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$-2.40K	USD	3 Qtrs
Interest expense	`InterestExpense`	-	USD	3 Qtrs
Interest expense	`InterestExpense`	$-790.00	USD	1 Quarter
Total Other Income (Expenses)	`OtherNonoperatingIncomeExpense`	$-2.40K	USD	3 Qtrs
Total Other Income (Expenses)	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Total Other Income (Expenses)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total Other Income (Expenses)	`OtherNonoperatingIncomeExpense`	$-790.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-142.91K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-50.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-67.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-187.66K	USD	3 Qtrs
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$-2.98K	USD	1 Quarter
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	-	USD	1 Quarter
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	$1.53K	USD	3 Qtrs
Foreign currency translation	`ForeignCurrencyTransactionGainLossRealized`	-	USD	3 Qtrs
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-70.69K	USD	1 Quarter
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-50.07K	USD	1 Quarter
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-186.13K	USD	3 Qtrs
Comprehensive loss for the period	`ComprehensiveIncomeNetOfTax`	$-142.91K	USD	3 Qtrs
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Basic and diluted loss per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.67M	shares	3 Qtrs
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.67M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.43M	shares	1 Quarter
Weighted average number of shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.38M	shares	3 Qtrs

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-142.91K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-50.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-67.71K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-187.66K	USD	3 Qtrs
Amortization of Software	`AmortizationOfIntangibleAssets`	-	USD	3 Qtrs
Amortization of Software	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Amortization of Software	`AmortizationOfIntangibleAssets`	$25.54K	USD	3 Qtrs
Amortization of Software	`AmortizationOfIntangibleAssets`	$8.51K	USD	1 Quarter
Increase (decrease) in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
Increase (decrease) in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$25.54K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$81.58K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$74.55K	USD	3 Qtrs
Increase (decrease) in subscription payable	`IncreaseDecreaseInSubscriptionPayable`	$-1.70K	USD	3 Qtrs
Increase (decrease) in subscription payable	`IncreaseDecreaseInSubscriptionPayable`	-	USD	3 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	-	USD	3 Qtrs
Increase (decrease) in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$2.17K	USD	3 Qtrs
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-61.34K	USD	3 Qtrs
Cash Flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-68.09K	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from shareholder loans	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds from shareholder loans	`ProceedsFromNotesPayable`	$54.24K	USD	3 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOrSaleOfEquity`	$83.54K	USD	3 Qtrs
Proceeds from sale of common shares	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$54.24K	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$83.54K	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	3 Qtrs
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-860.00	USD	3 Qtrs
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$-7.10K	USD	3 Qtrs
Increase (decrease) in cash during the period	`CashPeriodIncreaseDecrease`	$14.59K	USD	3 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.15K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.74K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.78K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.15K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.74K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.78K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	3 Qtrs
Shares issued for subscription payable	`StockIssuedDuringPeriodValueNewIssues`	$35.06K	USD	3 Qtrs
Shares issued for subscription payable	`StockIssuedDuringPeriodValueNewIssues`	-	USD	3 Qtrs
Accounts payable related party settled with stock	`DebtConversionOriginalDebtAmount1`	$82.80K	USD	3 Qtrs
Accounts payable related party settled with stock	`DebtConversionOriginalDebtAmount1`	-	USD	3 Qtrs

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