10-Q Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001477932-15-002850`
Period End Date	20150331
Filing Date	20150501
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	tteg-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 20 Cash Flow Statement 56

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Deposit, net of reserve	`RestructuringReserveCurrent`	$237.41K	USD	Point-in-time
Deposit, net of reserve	`RestructuringReserveCurrent`	$237.41K	USD	Point-in-time
Furniture and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$29.52K	USD	Point-in-time
Furniture and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$9.88K	USD	Point-in-time
Cash	`Cash`	$1.83K	USD	Point-in-time
Cash	`Cash`	$8.72K	USD	Point-in-time
Deposit, net of reserve of $237,414 (2015) and $237,414 (2014)	`DepositsAssetsCurrent`	-	USD	Point-in-time
Deposit, net of reserve of $237,414 (2015) and $237,414 (2014)	`DepositsAssetsCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.72K	USD	Point-in-time
Convertible Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.83K	USD	Point-in-time
Convertible Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Furniture and equipment, net of accumulated depreciation of $9,875 (2015) and $29,521 (2014)	`PropertyPlantAndEquipmentNet`	$6.24K	USD	Point-in-time
Convertible Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Furniture and equipment, net of accumulated depreciation of $9,875 (2015) and $29,521 (2014)	`PropertyPlantAndEquipmentNet`	$7.01K	USD	Point-in-time
Intangible asset	`IntangibleAssetsCurrent`	$13.75K	USD	Point-in-time
Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Intangible asset	`IntangibleAssetsCurrent`	$13.75K	USD	Point-in-time
Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$22.59K	USD	Point-in-time
Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$28.71K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	416.54M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	367.27M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$101.25K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$82.55K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	416.54M	shares	Point-in-time
Accrued payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$68.00	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	367.27M	shares	Point-in-time
Accrued interest	`InterestPayableCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$42.59K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$215.45K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$101.25K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$340.66K	USD	Point-in-time
Note payable	`LongTermNotesPayable`	$307.60K	USD	Point-in-time
Note payable	`LongTermNotesPayable`	-	USD	Point-in-time
Total Long-Term Liabilities	`LongTermDebtNoncurrent`	$307.60K	USD	Point-in-time
Total Long-Term Liabilities	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Convertible Preferred Stock; $0.001 par value; 1,000,000 shares authorized; 0 (2015) and 0 (2014) shares issued and outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Convertible Preferred Stock; $0.001 par value; 1,000,000 shares authorized; 0 (2015) and 0 (2014) shares issued and outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 416,538,330 (2015) and 367,274,979 (2014) shares issued and outstanding	`CommonStockValueOutstanding`	$416.54K	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 416,538,330 (2015) and 367,274,979 (2014) shares issued and outstanding	`CommonStockValueOutstanding`	$367.27K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$21.52M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$20.99M	USD	Point-in-time
Receivable for common stock	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$200.00K	USD	Point-in-time
Receivable for common stock	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$200.00K	USD	Point-in-time
Deferred non-cash debt offering costs	`DeferredNoncashOfferingCosts`	$2.38M	USD	Point-in-time
Deferred non-cash debt offering costs	`DeferredNoncashOfferingCosts`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$49.83K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.81M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-625.67K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-72.54K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$28.71K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$22.59K	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OtherCostAndExpenseOperating`	$45.43K	USD	1 Quarter
Operating costs	`OtherCostAndExpenseOperating`	$48.05K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$48.05K	USD	1 Quarter
Total operating costs and expenses	`OperatingCostsAndExpenses`	$45.43K	USD	1 Quarter
Change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings`	$-5.13K	USD	1 Quarter
Change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings`	-	USD	1 Quarter
Interest and other expenses, net	`InterestExpense`	$92.71K	USD	1 Quarter
Interest and other expenses, net	`InterestExpense`	$2.31M	USD	1 Quarter
TOTAL OTHER EXPENSE	`OtherNonoperatingExpense`	$97.84K	USD	1 Quarter
TOTAL OTHER EXPENSE	`OtherNonoperatingExpense`	$2.31M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.36M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-145.89K	USD	1 Quarter
Unrealized gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Unrealized gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-25.01K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.36M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-120.88K	USD	1 Quarter
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	374.35M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	272.37M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Conversion of convertible debt to equity (in shares)	`DebtConversionConvertedInstrumentSharesOutstanding`	65.56M	shares	1 Quarter
Common stock issued for conversion of debt and accrued interest	`CommonStockIssuedForConversionOfDebtAndAccruedInterest`	47.39M	shares	1 Quarter
Net loss	`NetIncomeLoss`	$-2.36M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.89K	USD	1 Quarter
Common stock issued for services and amortization of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	-	USD	1 Quarter
Common stock issued for services and amortization of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$5.11K	USD	1 Quarter
Unrealized loss on derivative liability	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Unrealized loss on derivative liability	`UnrealizedGainLossOnDerivatives`	$5.13K	USD	1 Quarter
Amortization of deferred offering costs	`AmortizationOfDeferredOfferingCosts`	$2.38M	USD	1 Quarter
Amortization of deferred offering costs	`AmortizationOfDeferredOfferingCosts`	$65.27K	USD	1 Quarter
Depreciation	`Depreciation`	$769.00	USD	1 Quarter
Depreciation	`Depreciation`	$1.21K	USD	1 Quarter
Amortization of discount on notes payable	`AmortizationOfDebtDiscountPremium`	$21.76K	USD	1 Quarter
Amortization of discount on notes payable	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Gain on foreign currency transaction adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Gain on foreign currency transaction adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-88.79K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.70K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-12.45K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.38K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	1 Quarter
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.51K	USD	1 Quarter
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-68.00	USD	1 Quarter
Accrued royalty fees	`IncreaseDecreaseInRoyaltiesPayable`	-	USD	1 Quarter
Accrued royalty fees	`IncreaseDecreaseInRoyaltiesPayable`	$6.25K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$24.06K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$5.68K	USD	1 Quarter
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-42.04K	USD	1 Quarter
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-26.04K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$50.85K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromIssuanceOfNotesPayable`	$17.92K	USD	1 Quarter
Proceeds from issuance of notes payable	`ProceedsFromIssuanceOfNotesPayable`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$32.92K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$50.85K	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.89K	USD	1 Quarter
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.81K	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.42K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.72K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.83K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.23K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.42K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.72K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.83K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.23K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$322.00	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Conversion of convertible debt to equity (65,562,422 shares)	`DebtConversionConvertedInstrumentAmount1`	-	USD	1 Quarter
Conversion of convertible debt to equity (65,562,422 shares)	`DebtConversionConvertedInstrumentAmount1`	$10.36K	USD	1 Quarter
Settlement of notes payable with refund of deposits	`SettlementOfNotesPayableWithRefundOfDeposits`	-	USD	1 Quarter
Settlement of notes payable with refund of deposits	`SettlementOfNotesPayableWithRefundOfDeposits`	$48.38K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$25.01K	USD	1 Quarter
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$38.96K	USD	1 Quarter
Deferred loan costs paid with common stock payable	`DeferredLoanCostsPaidWithCommonStockPayable`	-	USD	1 Quarter
Deferred loan costs paid with common stock payable	`DeferredLoanCostsPaidWithCommonStockPayable`	$11.83K	USD	1 Quarter
Common stock issued for conversion of debt and accrued interest to equity (47,388,351 shares) includes $69,075 of accrued interest	`CommonStockIssuedForConversionOfDebtAndAccruedInterestToEquity47388351SharesIncludes69075OfAccruedInterest`	$568.66K	USD	1 Quarter
Common stock issued for conversion of debt and accrued interest to equity (47,388,351 shares) includes $69,075 of accrued interest	`CommonStockIssuedForConversionOfDebtAndAccruedInterestToEquity47388351SharesIncludes69075OfAccruedInterest`	-	USD	1 Quarter

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