10-Q Filing

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

Filing Information

Form Type	10-Q
Accession Number	`0001262463-21-000524`
Period End Date	20210831
Filing Date	20211015
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	paxh10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 20 Cash Flow Statement 32 Stockholders Equity 10

Balance Sheet 50 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`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$40.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$801.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.77M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	19.77M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$40.00	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 current assets	`AssetsCurrent`	-	USD	Point-in-time
Total assets	`Assets`	$40.00	USD	Point-in-time
Total assets	`Assets`	-	USD	Point-in-time
Bank indebtedness	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Bank indebtedness	`ShortTermBankLoansAndNotesPayable`	$244.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$165.45K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$163.03K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	$459.12K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	$429.12K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$37.70K	USD	Point-in-time
Advances - related party	`AdvancesRelatedParty`	$46.52K	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`	$134.79K	USD	Point-in-time
Liability for unissued shares	`OtherLiabilitiesCurrent`	$134.79K	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`	$1.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.96M	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 authorized 19,767,698 shares issued and outstanding	`CommonStockValue`	$19.77K	USD	Point-in-time
Common Stock, $0.001 par value, 75,000,000 shares authorized 19,767,698 shares issued and outstanding	`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`	$-4.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.69M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.00M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	-	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$40.00	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	$41.00	USD	1 Quarter
Consulting	`ConsultingFees`	$30.00K	USD	1 Quarter
Consulting	`ConsultingFees`	$30.00K	USD	1 Quarter
Professional	`ProfessionalFees`	$7.88K	USD	1 Quarter
Professional	`ProfessionalFees`	-	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$1.62K	USD	1 Quarter
Office and administration	`GeneralAndAdministrativeExpense`	$3.50K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.35K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.08K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$41.57K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$34.85K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-34.85K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-41.53K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-34.85K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-41.53K	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`	19.80M	shares	1 Quarter
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.80M	shares	1 Quarter

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-34.85K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-41.53K	USD	1 Quarter
Increase in accounts payable and accrued liabilities - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$30.00K	USD	1 Quarter
Increase in accounts payable and accrued liabilities - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$30.00K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.33K	USD	1 Quarter
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.42K	USD	1 Quarter
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-11.18K	USD	1 Quarter
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.11K	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Increase in bank indebtedness	`IncreaseInBankIndebtedness`	-	USD	1 Quarter
Increase in bank indebtedness	`IncreaseInBankIndebtedness`	$244.00	USD	1 Quarter
Advances - related party	`ProceedsFromRelatedPartyDebt`	$12.54K	USD	1 Quarter
Advances - related party	`ProceedsFromRelatedPartyDebt`	$9.04K	USD	1 Quarter
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$598.00	USD	1 Quarter
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$210.00	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.94K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.07K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$755.00	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-40.00	USD	1 Quarter
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$40.00	USD	Point-in-time
Cash, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$801.00	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$46.00	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$40.00	USD	Point-in-time
Cash, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$801.00	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 10 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.00M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Net loss and comprehensive loss	`NetIncomeLoss`	$-34.85K	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-41.53K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-1.83M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.00M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.96M	USD	Point-in-time

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