10-Q Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001262463-19-000311`
Period End Date	20190831
Filing Date	20190930
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	paxh-20190831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 20 Cash Flow Statement 32 Stockholders Equity 18

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`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	`CashAndCashEquivalentsAtCarryingValue`	$3.05K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.67M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.67M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.61K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.43K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.43K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.57M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$17.94K	USD	Point-in-time
Total assets	`Assets`	$6.43K	USD	Point-in-time
Total assets	`Assets`	$17.94K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$145.37K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$134.44K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$266.53K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$239.84K	USD	Point-in-time
Loans payable - shareholders	`LoansPayableCurrent`	$132.90K	USD	Point-in-time
Loans payable - shareholders	`LoansPayableCurrent`	$132.90K	USD	Point-in-time
Liability for unissued shares	`OtherLiabilitiesCurrent`	$126.97K	USD	Point-in-time
Liability for unissued shares	`OtherLiabilitiesCurrent`	$126.97K	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotesPayableCurrent`	$1.06M	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotesPayableCurrent`	$1.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.69M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Capital Stock, $0.001 par value, 75,000,000 shares of common stock authorized, 19,667,698 common shares issued and outstanding at August 31, 2019 and May 31, 2019, respectively	`CommonStockValue`	$19.67K	USD	Point-in-time
Capital Stock, $0.001 par value, 75,000,000 shares of common stock authorized, 19,667,698 common shares issued and outstanding at August 31, 2019 and May 31, 2019, respectively	`CommonStockValue`	$19.67K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.61M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.20K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.20K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.36M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.41M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.53M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.58M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$6.43K	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$17.94K	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Consulting	`ConsultingFees`	$31.14K	USD	1 Quarter
Consulting	`ConsultingFees`	$30.00K	USD	1 Quarter
Professional	`ProfessionalFees`	$7.01K	USD	1 Quarter
Professional	`ProfessionalFees`	$9.70K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$9.54K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$5.87K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.65K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.57K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.57K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$7.65K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-55.34K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-49.14K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-49.14K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-55.34K	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.67M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.67M	shares	1 Quarter

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-49.14K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-55.34K	USD	1 Quarter
Increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$30.00K	USD	1 Quarter
Increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$30.00K	USD	1 Quarter
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.45K	USD	1 Quarter
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.94K	USD	1 Quarter
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.21K	USD	1 Quarter
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-28.79K	USD	1 Quarter
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Advances - related party	`ProceedsFromRelatedPartyDebt`	$1.22K	USD	1 Quarter
Advances - related party	`ProceedsFromRelatedPartyDebt`	$5.76K	USD	1 Quarter
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$6.77K	USD	1 Quarter
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$4.52K	USD	1 Quarter
Proceeds from loans payable - shareholder	`ProceedsFromLoans`	-	USD	1 Quarter
Proceeds from loans payable - shareholder	`ProceedsFromLoans`	$25.24K	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.30K	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.23K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.51K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.56K	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.61K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.43K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.05K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.61K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.43K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
From2019-06-01to2019-08-31	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
From2019-06-01to2019-08-31	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
From2019-06-01to2019-08-31	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
From2019-06-01to2019-08-31	`CommonStockSharesOutstanding`	19.57M	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.53M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.58M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Net loss for the period	`NetIncomeLoss`	$-49.14K	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-55.34K	USD	1 Quarter
Balance, shares	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.57M	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.53M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.58M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time

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