10-K Filing

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

Filing Information

Form Type	10-K
Accession Number	`0001262463-20-000365`
Period End Date	20200531
Filing Date	20200914
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	paxh-20200531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 20 Cash Flow Statement 36 Stockholders Equity 17

Balance Sheet 46 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`	$8.78K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$46.00	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`	19.77M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$46.00	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$17.94K	USD	Point-in-time
Total assets	`Assets`	$46.00	USD	Point-in-time
Total assets	`Assets`	$17.94K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$155.55K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$134.44K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$239.12K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$309.12K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$9.81K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$715.00	USD	Point-in-time
Loans payable - shareholders	`LoansPayableCurrent`	$132.90K	USD	Point-in-time
Loans payable - shareholders	`LoansPayableCurrent`	$136.47K	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`	$1.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.80M	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, 19,767,698 and 19,567,698 common shares issued and outstanding at May 31, 2020 and May 31, 2019, respectively	`CommonStockValue`	$19.77K	USD	Point-in-time
Capital Stock, $0.001 par value, 75,000,000 shares of common stock authorized, 19,767,698 and 19,567,698 common shares issued and outstanding at May 31, 2020 and May 31, 2019, respectively	`CommonStockValue`	$19.67K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.66M	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`	$-4.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.36M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.53M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$46.00	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	Annual
Revenue	`Revenues`	-	USD	Annual
Consulting	`ConsultingFees`	$126.23K	USD	Annual
Consulting	`ConsultingFees`	$125.73K	USD	Annual
Professional	`ProfessionalFees`	$16.29K	USD	Annual
Professional	`ProfessionalFees`	$18.70K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$15.12K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$28.91K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$11.61K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$26.87K	USD	Annual
Total expenses	`OperatingExpenses`	$171.67K	USD	Annual
Total expenses	`OperatingExpenses`	$197.80K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-171.67K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-197.80K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-197.80K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-171.67K	USD	Annual
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.73M	shares	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.67M	shares	Annual

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-197.80K	USD	Annual
Net loss	`NetIncomeLoss`	$-171.67K	USD	Annual
Increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$120.00K	USD	Annual
Increase in accounts payable - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$120.00K	USD	Annual
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$21.11K	USD	Annual
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-8.42K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-86.22K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.55K	USD	Annual
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$18.90K	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$26.43K	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$-25.72K	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$-9.81K	USD	Annual
Proceeds from loans payable - shareholder	`ProceedsFromLoans`	$51.78K	USD	Annual
Proceeds from loans payable - shareholder	`ProceedsFromLoans`	$3.56K	USD	Annual
Repayment of loans payable - shareholder	`PaymentsForLoans`	-	USD	Annual
Repayment of loans payable - shareholder	`PaymentsForLoans`	$-5.94K	USD	Annual
Issue of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Issue of common stock	`ProceedsFromIssuanceOfCommonStock`	$50.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.66K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$96.55K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$10.33K	USD	Annual
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.89K	USD	Annual
Cash, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$8.78K	USD	Point-in-time
Cash, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash, beginning of the year	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Cash, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$8.78K	USD	Point-in-time
Cash, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash, end of the year	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Issuance of shares of common stock to settle accounts payable and accrued liabilities - related party	`StockIssued1`	-	USD	Annual
Issuance of shares of common stock to settle accounts payable and accrued liabilities - related party	`StockIssued1`	$50.00K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance, shares	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.53M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Sale of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$50.00K	USD	Annual
Sale of common stock, value	`StockIssuedDuringPeriodValueNewIssues`	$50.00K	USD	Annual
Shares of common stock to settle accounts payable and accrued liabilities - related party, value	`SharesOfCommonStockToSettleAccountsPayableAndAccruedLiabilitiesRelatedPartyValue`	$50.00K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-197.80K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-171.67K	USD	Annual
Balance, shares	`CommonStockSharesOutstanding`	19.67M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.33M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.53M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.80M	USD	Point-in-time

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