10-Q Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001262463-21-000134`
Period End Date	20210228
Filing Date	20210414
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	paxh-20210228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 40 Cash Flow Statement 36

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`	$118.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	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`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$118.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$46.00	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 assets	`Assets`	$118.00	USD	Point-in-time
Total assets	`Assets`	$46.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$160.20K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$155.55K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$309.12K	USD	Point-in-time
Accounts payable and accrued liabilities related party	`AccountsPayableRelatedPartiesCurrent`	$399.12K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$9.81K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$30.89K	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`	$1.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.91M	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 common shares issued and outstanding at February 28, 2021 and May 31, 2020	`CommonStockValue`	$19.77K	USD	Point-in-time
Common stock, $0.001 par value, 75,000,000 shares of common stock authorized, 19,767,698 common shares issued and outstanding at February 28, 2021 and May 31, 2020	`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
Shares to be issued	`SharesToBeIssued`	$7.83K	USD	Point-in-time
Shares to be issued	`SharesToBeIssued`	-	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`	$-4.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.53M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-1.91M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$118.00	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$46.00	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	$125.00	USD	1 Quarter
Revenue	`Revenues`	$125.00	USD	3 Qtrs
Revenue	`Revenues`	-	USD	3 Qtrs
Consulting	`ConsultingFees`	$90.63K	USD	3 Qtrs
Consulting	`ConsultingFees`	$30.63K	USD	1 Quarter
Consulting	`ConsultingFees`	$93.81K	USD	3 Qtrs
Consulting	`ConsultingFees`	$33.81K	USD	1 Quarter
Professional	`ProfessionalFees`	$4.61K	USD	1 Quarter
Professional	`ProfessionalFees`	$17.09K	USD	3 Qtrs
Professional	`ProfessionalFees`	$14.98K	USD	3 Qtrs
Professional	`ProfessionalFees`	$3.16K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$5.61K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$12.87K	USD	3 Qtrs
Office and administration	`GeneralAndAdministrativeExpense`	$12.62K	USD	3 Qtrs
Office and administration	`GeneralAndAdministrativeExpense`	$4.10K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.59K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.48K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.95K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.38K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$123.60K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$45.12K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$132.25K	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$41.35K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-123.48K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-45.12K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-41.23K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-132.25K	USD	3 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-45.12K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-132.25K	USD	3 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-123.48K	USD	3 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$-41.23K	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Net loss per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.77M	shares	3 Qtrs
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`	19.77M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.71M	shares	3 Qtrs

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-45.12K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-132.25K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-123.48K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-41.23K	USD	1 Quarter
Increase in accounts payable and accrued liabilities - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$90.00K	USD	3 Qtrs
Increase in accounts payable and accrued liabilities - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$90.00K	USD	3 Qtrs
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.65K	USD	3 Qtrs
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$17.57K	USD	3 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-24.68K	USD	3 Qtrs
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-28.83K	USD	3 Qtrs
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Advances - related party	`ProceedsFromRelatedPartyDebt`	$15.33K	USD	3 Qtrs
Advances - related party	`ProceedsFromRelatedPartyDebt`	$22.21K	USD	3 Qtrs
Repayment of advances - related party	`RepaymentOfAdvancesRelatedParty`	$-1.14K	USD	3 Qtrs
Repayment of advances - related party	`RepaymentOfAdvancesRelatedParty`	$-8.59K	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$7.83K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.74K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$28.91K	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-17.94K	USD	3 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$72.00	USD	3 Qtrs
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$118.00	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$17.94K	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$118.00	USD	Point-in-time
Cash, end 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`	-	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
Issue shares to settle accounts payable and accrued liabilities - related party	`StockIssuedDuringPeriodValueOther`	-	USD	3 Qtrs
Issue shares to settle accounts payable and accrued liabilities - related party	`StockIssuedDuringPeriodValueOther`	$50.00K	USD	3 Qtrs

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