10-K Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001262463-22-000125`
Period End Date	20220531
Filing Date	20220929
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	paxh5312022_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 20 Cash Flow Statement 36 Stockholders Equity 8

Balance Sheet 47 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 outstanding	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$259.00	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	19.77M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$40.00	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
Total current assets	`AssetsCurrent`	$259.00	USD	Point-in-time
Total assets	`Assets`	$259.00	USD	Point-in-time
Total assets	`Assets`	$40.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$163.03K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$159.70K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	$120.00K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableRelatedPartiesCurrent`	$429.12K	USD	Point-in-time
Advances - related party	`DueToRelatedPartiesCurrent`	$32.58K	USD	Point-in-time
Advances - related party	`DueToRelatedPartiesCurrent`	$37.70K	USD	Point-in-time
Loans payable - shareholders	`LoansPayableCurrent`	$168.07K	USD	Point-in-time
Loans payable - shareholders	`LoansPayableCurrent`	$136.47K	USD	Point-in-time
Promissory note related party	`NotesAndLoansPayableCurrent`	-	USD	Point-in-time
Promissory note related party	`NotesAndLoansPayableCurrent`	$466.82K	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`	$2.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.96M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.14M	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`	$-4.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.69M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$40.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$259.00	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$368.00	USD	Annual
Revenue	`Revenues`	$411.00	USD	Annual
Consulting	`ConsultingFees`	$120.63K	USD	Annual
Consulting	`ConsultingFees`	$120.78K	USD	Annual
Professional	`ProfessionalFees`	$17.58K	USD	Annual
Professional	`ProfessionalFees`	$18.16K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$17.01K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$16.60K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$8.22K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$25.64K	USD	Annual
Total expenses	`OperatingExpenses`	$163.60K	USD	Annual
Total expenses	`OperatingExpenses`	$181.01K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-180.64K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-163.19K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-163.19K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-180.64K	USD	Annual
Net loss per share - basic and diluted	`EarningPerShareBasicAndDiluted`	$-0.01	USD	Annual
Net loss per share - basic and diluted	`EarningPerShareBasicAndDiluted`	$-0.01	USD	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	19.77M	shares	Annual
Weighted average number of common shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	19.77M	shares	Annual

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-163.19K	USD	Annual
Net loss	`NetIncomeLoss`	$-180.64K	USD	Annual
Increase in accounts payable and accrued liabilities - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$120.00K	USD	Annual
Increase in accounts payable and accrued liabilities - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$120.00K	USD	Annual
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.33K	USD	Annual
Increase in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.48K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-63.97K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-35.72K	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$29.43K	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$44.28K	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$1.55K	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$11.70K	USD	Annual
Proceeds from the issuance of liability for unissued shares	`ProceedsFromIssuanceOfLiabilityForUnissuedShares`	$7.83K	USD	Annual
Proceeds from the issuance of liability for unissued shares	`ProceedsFromIssuanceOfLiabilityForUnissuedShares`	-	USD	Annual
Proceeds from loans payable - shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	Annual
Proceeds from loans payable - shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$31.61K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$64.19K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.71K	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.00	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$219.00	USD	Annual
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.00	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.00	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$40.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.00	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
Conversion of Accounts payable and accrued liabilities - related party to Promissory note - related party	`ConversionOfAccountsPayableAndAccruedLiabilitiesRelatedPartyToPromissoryNoteRelatedParty`	-	USD	Annual
Conversion of Accounts payable and accrued liabilities - related party to Promissory note - related party	`ConversionOfAccountsPayableAndAccruedLiabilitiesRelatedPartyToPromissoryNoteRelatedParty`	$429.12K	USD	Annual
Conversion of Advances - related party to Promissory note - related party	`ConversionOfAdvancesRelatedPartyToPromissoryNoteRelatedParty`	-	USD	Annual
Conversion of Advances - related party to Promissory note - related party	`ConversionOfAdvancesRelatedPartyToPromissoryNoteRelatedParty`	$37.70K	USD	Annual

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Net loss and comprehensive loss	`NetIncomeLoss`	$-163.19K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-180.64K	USD	Annual
Ending balance, value	`StockholdersEquity`	$-1.96M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-1.80M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-2.14M	USD	Point-in-time

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