10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-13-012227`
Period End Date	20130731
Filing Date	20130923
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	mihi-20130731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 36 Cash Flow Statement 59 Stockholders Equity 22

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$21.78K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$31.57K	USD	Point-in-time
Inventory	`InventoryNet`	$654.18K	USD	Point-in-time
Inventory	`InventoryNet`	$193.75K	USD	Point-in-time
Other receivables	`OtherReceivablesGrossCurrent`	$247.72K	USD	Point-in-time
Other receivables	`OtherReceivablesGrossCurrent`	$237.72K	USD	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivable`	$237.72K	USD	Point-in-time
Par Value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivable`	$237.72K	USD	Point-in-time
Par Value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivable`	$237.72K	USD	Point-in-time
Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total other receivables	`OtherReceivablesNetCurrent`	$10.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$206.38K	USD	Point-in-time
Shares Issued	`CommonStockSharesIssued`	55.89M	shares	Point-in-time
Shares Issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$675.96K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$811.53K	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	55.89M	shares	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$768.96K	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$526.43K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$552.07K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$242.52K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$259.46K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$16.68K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$18.67K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$952.10K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$467.58K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$656.90K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$619.40K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$930.98K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$921.58K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$126.13K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$128.84K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$9.43K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$538.58K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$1.21M	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.70K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$3.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$110.50K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$110.50K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$50.00K	USD	Point-in-time
Related party payable	`DueToRelatedPartiesCurrent`	$50.00K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$442.12K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$430.72K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.88M	USD	Point-in-time
Total Liabilties	`Liabilities`	$3.47M	USD	Point-in-time
Total Liabilties	`Liabilities`	$2.88M	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 and 55,890,117 shares issued and outstanding on July 31, 2013 and April 30, 2013	`CommonStockValue`	$5.61K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized 56,090,117 and 55,890,117 shares issued and outstanding on July 31, 2013 and April 30, 2013	`CommonStockValue`	$5.59K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.89M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.67M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.80M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.52M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.24M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$467.58K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$952.10K	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$642.75K	USD	1 Quarter
Sales, net	`Revenues`	$57.29K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$447.63K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$67.08K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$195.13K	USD	1 Quarter
Gross profit (loss)	`GrossProfit`	$-9.79K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$87.56K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$121.30K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$41.24K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$1.04K	USD	1 Quarter
Write-off of assets	`ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss`	-	USD	1 Quarter
Write-off of assets	`ImpairedAssetsToBeDisposedOfByMethodOtherThanSaleAmountOfImpairmentLoss`	-	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-98.39K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$32.59K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$23.60K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.57K	USD	1 Quarter
Net other Income (loss)	`OtherNonoperatingGainsLosses`	$-15.57K	USD	1 Quarter
Net other Income (loss)	`OtherNonoperatingGainsLosses`	$-23.60K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.02K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-121.99K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Gain (Loss) from operations	`NetIncomeLoss`	$-1.25M	USD	Annual
Net Gain (Loss) from operations	`NetIncomeLoss`	$17.02K	USD	1 Quarter
Net Gain (Loss) from operations	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Gain (Loss) from operations	`NetIncomeLoss`	$-121.99K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.89M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.95M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.95M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.89M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$17.02K	USD	1 Quarter
Net loss	`ProfitLoss`	$-121.99K	USD	1 Quarter
Stock subscription payable	`StockSubscriptionPayable`	$500.00	USD	1 Quarter
Stock subscription payable	`StockSubscriptionPayable`	$3.00K	USD	1 Quarter
Depreciation expenses	`Depreciation`	$25.64K	USD	1 Quarter
Depreciation expenses	`Depreciation`	$24.54K	USD	1 Quarter
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Write-off of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$-10.00K	USD	1 Quarter
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$460.43K	USD	1 Quarter
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-124.93K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-37.50K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-62.99K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.40K	USD	1 Quarter
Increase (decrease) in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.44K	USD	1 Quarter
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$673.95K	USD	1 Quarter
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-68.42K	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-2.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$21.99K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$207.25K	USD	1 Quarter
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.02K	USD	1 Quarter
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$85.26K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.58K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.86K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.58K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.86K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-192.00	USD	1 Quarter
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	1 Quarter
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	$20.00K	USD	1 Quarter
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$7.50K	USD	1 Quarter
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-11.40K	USD	1 Quarter
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-549.00	USD	1 Quarter
Proceeds/(Payments) on lines of credit & credit cards	`RepaymentsOfShortTermDebt`	$2.71K	USD	1 Quarter
Proceeds/(Payments) on lines of credit & credit cards	`RepaymentsOfShortTermDebt`	$7.35K	USD	1 Quarter
Proceeds from stock subscription	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.53K	USD	1 Quarter
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.41K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$19.14K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$31.57K	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.78K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$31.57K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.78K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.57K	USD	Point-in-time
Interest Paid	`InterestPaid`	$4.96K	USD	1 Quarter
Interest Paid	`InterestPaid`	$15.57K	USD	1 Quarter
Taxes Paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Taxes Paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$20.05K	USD	Annual
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$7.70K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$30.51K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance - April 30, 2011	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance - April 30, 2011	`StockholdersEquity`	$-2.52M	USD	Point-in-time
Balance - April 30, 2011	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance - April 30, 2011	`StockholdersEquity`	$-2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.24M	USD	Point-in-time
Stock issued to Directors	`StockIssuedDuringPeriodValueIssuedForNoncashConsiderations`	$175.18K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$20.05K	USD	Annual
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$7.70K	USD	1 Quarter
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$30.51K	USD	1 Quarter
Shares issued for services (in Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	200,000.00	shares	1 Quarter
Shares issued for cash	`StockIssuedDuringPeriodValueIssuedForCash`	$150.00K	USD	Annual
Shares issued on conversion of debt	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$47.46K	USD	Annual
Beneficial Loan conversion Expense	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$95.00K	USD	Annual
Settlement of Lawsuit	`LitigationSettlementAmount`	$1.01M	USD	Annual
Shares issued for payable	`StockIssuedDuringPeriodValueOther`	$7.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Net loss	`NetIncomeLoss`	$17.02K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Net loss	`NetIncomeLoss`	$-121.99K	USD	1 Quarter

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