10-Q Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001262463-20-000403`
Period End Date	20200831
Filing Date	20201015
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	paxh-20200831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 20 Cash Flow Statement 30 Stockholders Equity 14

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
Common stock, shares issued	`CommonStockSharesIssued`	19.77M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.77M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$801.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.43K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$46.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$801.00	USD	Point-in-time
Total assets	`Assets`	$801.00	USD	Point-in-time
Total assets	`Assets`	$46.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$155.55K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$149.22K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$339.12K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$309.12K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$21.75K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$9.81K	USD	Point-in-time
Loans payable - shareholders	`LoansPayableCurrent`	$136.47K	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`	$1.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.83M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.80M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares of common stock authorized, 19,767,698 and 19,767,968 common shares issued and outstanding at August 31, 2020 and May 31, 2020, respectively	`CommonStockValue`	$19.77K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares of common stock authorized, 19,767,698 and 19,767,968 common shares issued and outstanding at August 31, 2020 and May 31, 2020, respectively	`CommonStockValue`	$19.77K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.66M	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`	$-4.56M	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 stockholders deficit	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$801.00	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$46.00	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`	$30.00K	USD	1 Quarter
Consulting	`ConsultingFees`	$30.00K	USD	1 Quarter
Professional	`ProfessionalFees`	-	USD	1 Quarter
Professional	`ProfessionalFees`	$9.70K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$3.50K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$5.87K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.35K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.57K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$49.14K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$34.85K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-34.85K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-49.14K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-34.85K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-49.14K	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`	19.77M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.77M	shares	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-34.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-49.14K	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
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.94K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.33K	USD	1 Quarter
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.21K	USD	1 Quarter
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.18K	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`	$12.54K	USD	1 Quarter
Repayment of advances - related party	`RepaymentOfAdvancesRelatedParty`	$-598.00	USD	1 Quarter
Repayment of advances - related party	`RepaymentOfAdvancesRelatedParty`	$-4.52K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.30K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.94K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$755.00	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.51K	USD	1 Quarter
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$801.00	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$6.43K	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$801.00	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$6.43K	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	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 14 line items

Line Item	Tag	Value	Unit	Period
Balance, shares	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Net loss and comprehensive loss	`NetIncomeLoss`	$-34.85K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-49.14K	USD	1 Quarter
Balance, shares	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.67M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.83M	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.