10-K Filing

PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. CIK: 1350156 FY 2024

Filing Information

Form Type	10-K
Accession Number	`0001262463-24-000089`
Period End Date	20240531
Filing Date	20241010
Fiscal Year	2024
Fiscal Period	FY
XBRL Instance	paxh5312024k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 98 Income Statement 48 Cash Flow Statement 64 Stockholders Equity 16

Balance Sheet 98 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`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 authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$14.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$14.00	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.00	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
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`	$6.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.00	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`	$6.00	USD	Point-in-time
Total assets	`Assets`	$6.00	USD	Point-in-time
Total assets	`Assets`	$14.00	USD	Point-in-time
Total assets	`Assets`	$14.00	USD	Point-in-time
Bank indebtedness	`LoansPayableToBankCurrent`	$398.00	USD	Point-in-time
Bank indebtedness	`LoansPayableToBankCurrent`	$398.00	USD	Point-in-time
Bank indebtedness	`LoansPayableToBankCurrent`	-	USD	Point-in-time
Bank indebtedness	`LoansPayableToBankCurrent`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$166.91K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$166.91K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.35K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.35K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$240.00K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$240.00K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$300.00K	USD	Point-in-time
Accounts payable and accrued liabilities - related party	`AccountsPayableAndAccruedLiabilitiesRelatedParty`	$300.00K	USD	Point-in-time
Advances - related party	`DueToRelatedPartyCurrent`	$64.95K	USD	Point-in-time
Advances - related party	`DueToRelatedPartyCurrent`	$64.95K	USD	Point-in-time
Advances - related party	`DueToRelatedPartyCurrent`	$77.19K	USD	Point-in-time
Advances - related party	`DueToRelatedPartyCurrent`	$77.19K	USD	Point-in-time
Loans payable - shareholders	`OtherLiabilitiesCurrent`	$173.07K	USD	Point-in-time
Loans payable - shareholders	`OtherLiabilitiesCurrent`	$173.07K	USD	Point-in-time
Loans payable - shareholders	`OtherLiabilitiesCurrent`	$191.33K	USD	Point-in-time
Loans payable - shareholders	`OtherLiabilitiesCurrent`	$191.33K	USD	Point-in-time
Liability for unissued shares	`LiabilityForUnissuedSharesCurrent`	$134.79K	USD	Point-in-time
Liability for unissued shares	`LiabilityForUnissuedSharesCurrent`	$134.79K	USD	Point-in-time
Liability for unissued shares	`LiabilityForUnissuedSharesCurrent`	$134.79K	USD	Point-in-time
Liability for unissued shares	`LiabilityForUnissuedSharesCurrent`	$134.79K	USD	Point-in-time
Promissory note - related party	`PromissoryNoteRelatedParty`	$466.82K	USD	Point-in-time
Promissory note - related party	`PromissoryNoteRelatedParty`	$466.82K	USD	Point-in-time
Promissory note - related party	`PromissoryNoteRelatedParty`	$466.82K	USD	Point-in-time
Promissory note - related party	`PromissoryNoteRelatedParty`	$466.82K	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotePayableRelatedParty`	$1.06M	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotePayableRelatedParty`	$1.06M	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotePayableRelatedParty`	$1.06M	USD	Point-in-time
Convertible note payable - related party	`ConvertibleNotePayableRelatedParty`	$1.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.40M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	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
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
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 other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.20K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.20K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.03M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.13M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.40M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.40M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.30M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.30M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$6.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$6.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$14.00	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$14.00	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
Revenue	`Revenues`	-	USD	Annual
Consulting	`ConsultingFees`	$60.00K	USD	Annual
Consulting	`ConsultingFees`	$60.00K	USD	Annual
Consulting	`ConsultingFees`	$120.44K	USD	Annual
Consulting	`ConsultingFees`	$120.44K	USD	Annual
Professional	`ProfessionalFees`	$15.50K	USD	Annual
Professional	`ProfessionalFees`	$15.50K	USD	Annual
Professional	`ProfessionalFees`	$18.65K	USD	Annual
Professional	`ProfessionalFees`	$18.65K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$13.79K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$13.79K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$15.16K	USD	Annual
Office and administration	`GeneralAndAdministrativeExpense`	$15.16K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$5.63K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$5.63K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$6.53K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$6.53K	USD	Annual
Total operating expenses	`OperatingExpenses`	$99.45K	USD	Annual
Total operating expenses	`OperatingExpenses`	$99.45K	USD	Annual
Total operating expenses	`OperatingExpenses`	$156.27K	USD	Annual
Total operating expenses	`OperatingExpenses`	$156.27K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-156.27K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-156.27K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-99.45K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-99.45K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-99.45K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-99.45K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-156.27K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-156.27K	USD	Annual
Net loss per share - basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net loss per share - basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net loss per share - basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net loss per share - basic	`EarningsPerShareBasic`	$-0.01	USD	Annual
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.77M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.77M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.77M	shares	Annual
Weighted average number of common shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.77M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.77M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.77M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.77M	shares	Annual
Weighted average number of common shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.77M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-99.45K	USD	Annual
Net loss	`NetIncomeLoss`	$-99.45K	USD	Annual
Net loss	`NetIncomeLoss`	$-156.27K	USD	Annual
Net loss	`NetIncomeLoss`	$-156.27K	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 - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$60.00K	USD	Annual
Increase in accounts payable and accrued liabilities - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$60.00K	USD	Annual
Decrease (increase) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.35K	USD	Annual
Decrease (increase) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.35K	USD	Annual
Decrease (increase) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.56K	USD	Annual
Decrease (increase) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.56K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-37.62K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-37.62K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.89K	USD	Annual
Cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.89K	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Bank indebtedness	`ProceedsFromBankDebt`	-	USD	Annual
Bank indebtedness	`ProceedsFromBankDebt`	-	USD	Annual
Bank indebtedness	`ProceedsFromBankDebt`	$398.00	USD	Annual
Bank indebtedness	`ProceedsFromBankDebt`	$398.00	USD	Annual
Advances - loans payable - shareholders	`ProceedsFromNotesPayable`	$4.99K	USD	Annual
Advances - loans payable - shareholders	`ProceedsFromNotesPayable`	$4.99K	USD	Annual
Advances - loans payable - shareholders	`ProceedsFromNotesPayable`	$18.26K	USD	Annual
Advances - loans payable - shareholders	`ProceedsFromNotesPayable`	$18.26K	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$13.89K	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$13.89K	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$33.16K	USD	Annual
Advances - related party	`ProceedsFromRelatedPartyDebt`	$33.16K	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$1.66K	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$1.66K	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$785.00	USD	Annual
Repayment of advances - related party	`RepaymentsOfRelatedPartyDebt`	$785.00	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.36K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.36K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.88K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.88K	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$8.00	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$8.00	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-253.00	USD	Annual
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-253.00	USD	Annual
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.00	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.00	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.00	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.00	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.00	USD	Point-in-time
Cash, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$259.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.00	USD	Point-in-time
Cash, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.00	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	Annual
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
Cash paid for interest	`InterestPaidNet`	-	USD	Annual
Cash paid for interest	`InterestPaidNet`	-	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-2.40M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-2.40M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-2.30M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-2.30M	USD	Point-in-time
Net loss and comprehensive loss	`NetIncomeLoss`	$-99.45K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-99.45K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-156.27K	USD	Annual
Net loss and comprehensive loss	`NetIncomeLoss`	$-156.27K	USD	Annual
Ending balance, value	`StockholdersEquity`	$-2.40M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-2.40M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-2.14M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-2.30M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-2.30M	USD	Point-in-time

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