10-Q Filing

MEDICAL INNOVATION HOLDINGS, INC. CIK: 1093248 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-011362`
Period End Date	20140131
Filing Date	20140617
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	mihi-20140131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 66 Cash Flow Statement 52 Stockholders Equity 20

Balance Sheet 71 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`	$9.89K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.63K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$189.94K	USD	Point-in-time
Inventory	`InventoryNet`	$193.75K	USD	Point-in-time
Inventory	`InventoryNet`	$103.88K	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
Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total other receivables	`OtherReceivablesNetCurrent`	$10.00K	USD	Point-in-time
Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$113.77K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$206.38K	USD	Point-in-time
Shares Issued	`CommonStockSharesIssued`	56.09M	shares	Point-in-time
Shares Issued	`CommonStockSharesIssued`	55.89M	shares	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$768.96K	USD	Point-in-time
Fixed Assets:	`PropertyPlantAndEquipmentGross`	$812.48K	USD	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	55.89M	shares	Point-in-time
Shares Outstanding	`CommonStockSharesOutstanding`	56.09M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$603.72K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$526.43K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$208.76K	USD	Point-in-time
Total property & equipment	`PropertyPlantAndEquipmentNet`	$242.52K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$10.29K	USD	Point-in-time
Prepaid expenses & deposits	`PrepaidExpenseNoncurrent`	$18.67K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$332.82K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$467.58K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$699.83K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$656.90K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$965.75K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$930.98K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$128.84K	USD	Point-in-time
Short term debt	`ShortTermBorrowings`	$128.63K	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	-	USD	Point-in-time
Bank overdraft	`BankOverdrafts`	$9.43K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$538.58K	USD	Point-in-time
Customer Deposit	`CustomerDepositsCurrent`	$40.50K	USD	Point-in-time
Stock committed to be issued	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$6.38K	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`	$442.12K	USD	Point-in-time
Related Parties - short-term borrowings from shareholders	`DueToOfficersOrStockholdersCurrent`	$438.64K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.50M	USD	Point-in-time
Total Liabilties	`Liabilities`	$2.50M	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 Janaury 31, 2014 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 Janaury 31, 2014 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`	$-7.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.67M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-2.16M	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 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$332.82K	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$467.58K	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$2.11M	USD	3 Qtrs
Sales, net	`Revenues`	$1.05M	USD	3 Qtrs
Sales, net	`Revenues`	$1.35M	USD	1 Quarter
Sales, net	`Revenues`	$347.86K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$346.97K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$877.38K	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$1.39M	USD	3 Qtrs
Cost of Goods Sold	`CostOfGoodsSold`	$866.47K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$721.53K	USD	3 Qtrs
Gross Profit (Loss)	`GrossProfit`	$895.00	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$481.42K	USD	1 Quarter
Gross Profit (Loss)	`GrossProfit`	$170.99K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$283.65K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$88.59K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$389.38K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$226.29K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$68.44K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$28.48K	USD	1 Quarter
Selling and marketing expenses	`SellingAndMarketingExpense`	$76.23K	USD	3 Qtrs
Selling and marketing expenses	`SellingAndMarketingExpense`	$146.18K	USD	3 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$324.39K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$291.69K	USD	3 Qtrs
Income (Loss) from operations	`OperatingIncomeLoss`	$-253.87K	USD	1 Quarter
Income (Loss) from operations	`OperatingIncomeLoss`	$-294.62K	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	$24.87K	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	3 Qtrs
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$26.72K	USD	1 Quarter
Interest expense	`InterestExpense`	$54.30K	USD	3 Qtrs
Interest expense	`InterestExpense`	$13.58K	USD	1 Quarter
Interest expense	`InterestExpense`	$17.85K	USD	1 Quarter
Interest expense	`InterestExpense`	$40.26K	USD	3 Qtrs
Net other loss	`NonoperatingIncomeExpense`	$-13.14K	USD	1 Quarter
Net other loss	`NonoperatingIncomeExpense`	$-17.85K	USD	1 Quarter
Net other loss	`NonoperatingIncomeExpense`	$-54.30K	USD	3 Qtrs
Net other loss	`NonoperatingIncomeExpense`	$15.39K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-310.00K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$237.39K	USD	3 Qtrs
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$342.25K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-240.73K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.25M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-417.28K	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$237.39K	USD	3 Qtrs
Net Income (Loss)	`NetIncomeLoss`	$342.25K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-240.73K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-310.00K	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	-	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.84M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	56.09M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.89M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	55.89M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.84M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.89M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.89M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	56.09M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$237.39K	USD	3 Qtrs
Net loss	`ProfitLoss`	$-310.01K	USD	3 Qtrs
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$6.38K	USD	3 Qtrs
Stock subscription payable/Issued for services	`StockSubscriptionPayable`	$2.20K	USD	3 Qtrs
Depreciation expenses	`Depreciation`	$73.01K	USD	3 Qtrs
Depreciation expenses	`Depreciation`	$77.28K	USD	3 Qtrs
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Decrease (Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	$-10.00K	USD	3 Qtrs
Decrease (Increase) in other receivable	`IncreaseDecreaseInOtherReceivables`	-	USD	3 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-89.87K	USD	3 Qtrs
Decrease (Increase) in inventory	`IncreaseDecreaseInInventories`	$-64.48K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$65.05K	USD	3 Qtrs
Increase (decrease) in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$77.69K	USD	3 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$333.46K	USD	3 Qtrs
Increase (decrease) in customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-498.08K	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$6.17K	USD	3 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-8.38K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-228.49K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$532.02K	USD	3 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$222.01K	USD	3 Qtrs
Net cash (used) received in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.90K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.82K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.52K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-34.82K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.52K	USD	3 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-9.43K	USD	3 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	3 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	$20.00K	USD	3 Qtrs
Proceeds/(Payments) from notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$7.50K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable	`RepaymentsOfRelatedPartyDebt`	$-55.00K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-3.48K	USD	3 Qtrs
Proceeds/(Payments) from related party note payable shareholders	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-5.84K	USD	3 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`RepaymentsOfShortTermDebt`	$214.00	USD	3 Qtrs
Proceeds/(Payments) on lines of credit & credit cards	`RepaymentsOfShortTermDebt`	$3.90K	USD	3 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.76K	USD	3 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.88K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.26K	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$189.94K	USD	3 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.89K	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`	$189.94K	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.89K	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`	$189.94K	USD	Point-in-time
Interest Paid	`InterestPaid`	$13.63K	USD	3 Qtrs
Interest Paid	`InterestPaid`	$10.24K	USD	3 Qtrs
Taxes Paid	`IncomeTaxesPaid`	-	USD	3 Qtrs
Taxes Paid	`IncomeTaxesPaid`	-	USD	3 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-2.16M	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
Shares issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$7.70K	USD	3 Qtrs
Shares issued for services (in Shares)	`StockIssuedDuringPeriodSharesIssuedForServices`	200,000.00	shares	3 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`	$-1.25M	USD	Annual
Net loss	`NetIncomeLoss`	$-417.28K	USD	Annual
Net loss	`NetIncomeLoss`	$237.39K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$342.25K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-240.73K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-310.00K	USD	3 Qtrs
Balance	`StockholdersEquity`	$-2.16M	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

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