10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-13-016007`
Period End Date	20131031
Filing Date	20131213
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	mihi-20131031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 61 Cash Flow Statement 51 Stockholders Equity 21

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Shares Authorized (in Shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Shares Authorized (in Shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.27K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$209.62K	USD	Point-in-time
Inventory	`InventoryNet`	$563.68K	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
Par Value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Reserve	`AllowanceForDoubtfulAccountsReceivable`	$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
Total other receivables	`OtherReceivablesNetCurrent`	$10.00K	USD	Point-in-time
Shares Authorized (in Shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Shares Authorized (in Shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$206.38K	USD	Point-in-time
Shares Issued (in Shares)	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Shares Issued (in Shares)	`CommonStockSharesIssued`	55.89M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$571.95K	USD	Point-in-time
Shares Outstanding (in Shares)	`CommonStockSharesOutstanding`	55.89M	shares	Point-in-time
Shares Outstanding (in Shares)	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$811.53K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$768.96K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$526.43K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$579.47K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$242.52K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$232.07K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$18.67K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$10.24K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$814.25K	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`	$748.98K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$709.98K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$686.11K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$128.84K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$125.04K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$9.43K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$849.24K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$538.58K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$4.12K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$7.70K	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`	$105.00K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$654.16K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$663.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.88M	USD	Point-in-time
Total Liabilties	`Liabilities`	$3.28M	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 October 31, 2013 and April 30, 2013	`CommonStockValue`	$5.59K	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 October 31, 2013 and April 30, 2013	`CommonStockValue`	$5.61K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.67M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.24M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.47M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$467.58K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$814.25K	USD	Point-in-time

Income Statement 61 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$57.76K	USD	1 Quarter
Sales, net	`Revenues`	$762.33K	USD	2 Qtrs
Sales, net	`Revenues`	$705.04K	USD	1 Quarter
Sales, net	`Revenues`	$700.51K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$522.16K	USD	2 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$454.73K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$52.26K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$500.05K	USD	2 Qtrs
Gross Profit (Loss)	`GrossProfit`	$240.17K	USD	2 Qtrs
Gross Profit (Loss)	`GrossProfit`	$200.46K	USD	2 Qtrs
Gross Profit (Loss)	`GrossProfit`	$5.50K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$250.31K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$195.10K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$106.76K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$192.96K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$71.54K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$6.38K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$47.71K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$77.74K	USD	2 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$76.73K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-72.42K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$66.82K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-40.20K	USD	2 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-32.67K	USD	2 Qtrs
Other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$36.45K	USD	2 Qtrs
Interest expense	`InterestExpense`	$28.53K	USD	2 Qtrs
Interest expense	`InterestExpense`	$13.01K	USD	1 Quarter
Interest expense	`InterestExpense`	$12.86K	USD	1 Quarter
Net other loss	`OtherNonoperatingGainsLosses`	$-36.45K	USD	2 Qtrs
Net other loss	`OtherNonoperatingGainsLosses`	$-28.53K	USD	2 Qtrs
Net other loss	`OtherNonoperatingGainsLosses`	$-12.86K	USD	1 Quarter
Net other loss	`OtherNonoperatingGainsLosses`	$-13.01K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$53.97K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-85.43K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-68.74K	USD	2 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-69.13K	USD	2 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-68.74K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$-1.25M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-69.13K	USD	2 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$53.97K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-85.43K	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	2 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.89M	shares	2 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.89M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.89M	shares	2 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.89M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-68.74K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-69.13K	USD	2 Qtrs
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$700.00	USD	2 Qtrs
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$4.12K	USD	2 Qtrs
Depreciation expenses	`Depreciation`	$53.03K	USD	2 Qtrs
Depreciation expenses	`Depreciation`	$47.30K	USD	2 Qtrs
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$-10.00K	USD	2 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	2 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$50.90K	USD	2 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$369.93K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-24.62K	USD	2 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$68.21K	USD	2 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$310.65K	USD	2 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$368.03K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-8.44K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-98.00	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$340.60K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$84.52K	USD	2 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.39K	USD	2 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$271.87K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.58K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.32K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.58K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.32K	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	2 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	$20.00K	USD	2 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	2 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$7.50K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-55.00K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-39.78K	USD	2 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-8.96K	USD	2 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`RepaymentsOfShortTermDebt`	$7.64K	USD	2 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`RepaymentsOfShortTermDebt`	$3.80K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$32.81K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-34.92K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$209.62K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.63K	USD	2 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.27K	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$209.62K	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`	$8.27K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$209.62K	USD	Point-in-time
Interest Paid	`InterestPaid`	$10.24K	USD	2 Qtrs
Interest Paid	`InterestPaid`	$4.96K	USD	2 Qtrs
Taxes Paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Taxes Paid	`IncomeTaxesPaid`	-	USD	2 Qtrs
Shares issued to settle accrued expenses	`StockIssued1`	$7.70K	USD	2 Qtrs

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance - April 30, 2011	`StockholdersEquity`	$-2.24M	USD	Point-in-time
Balance - April 30, 2011	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance - April 30, 2011	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance - April 30, 2011	`StockholdersEquity`	$-2.47M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$-1.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.47M	USD	Point-in-time
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$7.70K	USD	2 Qtrs
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$20.05K	USD	Annual
Shares issued for services (in Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	200,000.00	shares	2 Qtrs
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
Net loss	`NetIncomeLoss`	$-68.74K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.25M	USD	Annual
Net loss	`NetIncomeLoss`	$-69.13K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$53.97K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Net loss	`NetIncomeLoss`	$-85.43K	USD	1 Quarter

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