10-Q Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001477932-15-004792`
Period End Date	20150630
Filing Date	20150731
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	tteg-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 40 Cash Flow Statement 71

Balance Sheet 66 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`	$1.12K	USD	Point-in-time
Cash	`Cash`	$1.83K	USD	Point-in-time
Furniture and equipment, accumulated depreciation (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$29.52K	USD	Point-in-time
Cash	`Cash`	$8.27K	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`	$1.83K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.27K	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
Convertible Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Furniture and equipment, net of accumulated depreciation of $1,118 (2015) and $29,521 (2014)	`PropertyPlantAndEquipmentNet`	$7.01K	USD	Point-in-time
Furniture and equipment, net of accumulated depreciation of $1,118 (2015) and $29,521 (2014)	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Convertible Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Intangible asset	`IntangibleAssetsCurrent`	$13.75K	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
Convertible Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
TOTAL ASSETS	`Assets`	$22.59K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$22.02K	USD	Point-in-time
Convertible Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	18.36M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$55.77K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.61M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$82.55K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.61M	shares	Point-in-time
Accrued payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$68.00	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.36M	shares	Point-in-time
Accrued payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	-	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$42.59K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	-	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$215.45K	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$55.77K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$340.66K	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesNoncurrent`	$307.60K	USD	Point-in-time
Notes payable, related party	`NotesPayableRelatedPartiesNoncurrent`	-	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; 21,608,425 (2015) and 18,363,749 (2014) shares issued and outstanding	`CommonStockValueOutstanding`	$21.61K	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 21,608,425 (2015) and 18,363,749 (2014) shares issued and outstanding	`CommonStockValueOutstanding`	$18.36K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$21.34M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$22.13M	USD	Point-in-time
Receivable for common stock	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	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
Prepaid services paid for with common stock	`PrepaidServicesPaidForWithCommonStock`	$-12.50K	USD	Point-in-time
Prepaid services paid for with common stock	`PrepaidServicesPaidForWithCommonStock`	-	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`	$-22.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.45M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-33.75K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-625.67K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$22.59K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$22.02K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingCostsAndExpenses`	$230.18K	USD	2 Qtrs
Operating costs	`OperatingCostsAndExpenses`	$182.13K	USD	1 Quarter
Operating costs	`OperatingCostsAndExpenses`	$401.75K	USD	2 Qtrs
Operating costs	`OperatingCostsAndExpenses`	$356.32K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$356.32K	USD	1 Quarter
Total operating costs and expenses	`OperatingExpenses`	$401.75K	USD	2 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$230.18K	USD	2 Qtrs
Total operating costs and expenses	`OperatingExpenses`	$182.13K	USD	1 Quarter
Change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings`	-	USD	2 Qtrs
Change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings`	-	USD	1 Quarter
Change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings`	$-5.13K	USD	2 Qtrs
Change in fair value of derivative liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings`	-	USD	1 Quarter
Interest and other expenses, net	`InterestExpense`	$168.35K	USD	1 Quarter
Interest and other expenses, net	`InterestExpense`	$2.32M	USD	2 Qtrs
Interest and other expenses, net	`InterestExpense`	$261.07K	USD	2 Qtrs
Interest and other expenses, net	`InterestExpense`	$6.00K	USD	1 Quarter
TOTAL OTHER EXPENSE	`OtherNonoperatingExpense`	$168.35K	USD	1 Quarter
TOTAL OTHER EXPENSE	`OtherNonoperatingExpense`	$266.20K	USD	2 Qtrs
TOTAL OTHER EXPENSE	`OtherNonoperatingExpense`	$2.32M	USD	2 Qtrs
TOTAL OTHER EXPENSE	`OtherNonoperatingExpense`	$6.00K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-496.38K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-350.49K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.72M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-362.32K	USD	1 Quarter
Unrealized (loss) gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Unrealized (loss) gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$-10.49K	USD	2 Qtrs
Unrealized (loss) gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	2 Qtrs
Unrealized (loss) gain on foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	$14.53K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-365.01K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-485.89K	USD	2 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-362.32K	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.72M	USD	2 Qtrs
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
NET LOSS PER COMMON SHARE, BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	2 Qtrs
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.90M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.64M	shares	2 Qtrs
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	21.07M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.64M	shares	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Conversion of convertible debt to equity (in shares)	`DebtConversionConvertedInstrumentSharesOutstanding`	73,950.00	shares	2 Qtrs
Net loss	`NetIncomeLoss`	$-496.38K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-350.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.72M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-362.32K	USD	1 Quarter
Common stock issued for conversion of debt and accrued interest	`CommonStockIssuedForConversionOfDebtAndAccruedInterest`	2.37M	shares	2 Qtrs
Issuance of stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$313.60K	USD	2 Qtrs
Issuance of stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	2 Qtrs
Common stock issued for services and amortization of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$2.50K	USD	2 Qtrs
Common stock issued for services and amortization of common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$10.22K	USD	2 Qtrs
Unrealized loss on derivative liability	`UnrealizedGainLossOnDerivatives`	$5.13K	USD	2 Qtrs
Amortization of deferred offering costs	`AmortizationOfOtherDeferredCosts`	$203.96K	USD	2 Qtrs
Amortization of deferred offering costs	`AmortizationOfOtherDeferredCosts`	$2.38M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.01K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.41K	USD	2 Qtrs
Provision for deposit	`ProvisionForDeposit`	$59.35K	USD	2 Qtrs
Provision for deposit	`ProvisionForDeposit`	-	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	2 Qtrs
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$6.00K	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
(Increase) decrease in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$43.53K	USD	2 Qtrs
Gain on foreign currency transaction adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-88.79K	USD	2 Qtrs
Gain on foreign currency transaction adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$39.83K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-26.77K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	-	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$15.50K	USD	2 Qtrs
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$16.84K	USD	2 Qtrs
Accrued payroll	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-68.00	USD	2 Qtrs
Accrued royalty fees	`IncreaseDecreaseInRoyaltiesPayable`	-	USD	2 Qtrs
Accrued royalty fees	`IncreaseDecreaseInRoyaltiesPayable`	$12.50K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$24.05K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$13.32K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-111.48K	USD	2 Qtrs
Net cash used by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-73.79K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$52.85K	USD	2 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$100.00K	USD	2 Qtrs
Proceeds from issuance of notes payable, related party	`ProceedsFromNotesPayable`	$17.52K	USD	2 Qtrs
Proceeds from issuance of notes payable, related party	`ProceedsFromNotesPayable`	$17.92K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$70.36K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$117.92K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.44K	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.42K	USD	2 Qtrs
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.42K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.27K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.83K	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.42K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.27K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.83K	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	-	USD	2 Qtrs
Conversion of convertible debt to equity (73,950 shares)	`DebtConversionConvertedInstrumentAmount1`	-	USD	2 Qtrs
Conversion of convertible debt to equity (73,950 shares)	`DebtConversionConvertedInstrumentAmount1`	$10.36K	USD	2 Qtrs
Common stock issued to extinguish derivative liability	`CommonStockIssuedToExtinguishDerivativeLiability`	-	USD	2 Qtrs
Common stock issued to extinguish derivative liability	`CommonStockIssuedToExtinguishDerivativeLiability`	$11.83K	USD	2 Qtrs
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$10.49K	USD	2 Qtrs
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$38.96K	USD	2 Qtrs
Settlement of notes payable with refund of deposits	`SettlementOfNotesPayableWithRefundOfDeposits`	-	USD	2 Qtrs
Settlement of notes payable with refund of deposits	`SettlementOfNotesPayableWithRefundOfDeposits`	$48.38K	USD	2 Qtrs
Issuance of common stock payable	`IssuanceOfCommonStockPayable`	-	USD	2 Qtrs
Issuance of common stock payable	`IssuanceOfCommonStockPayable`	$336.67K	USD	2 Qtrs
Relief of accounts payable and accruals through issuance of 236 note payable	`ReliefOfAccountsPayableAndAccrualsThroughIssuanceOfNotePayable`	-	USD	2 Qtrs
Relief of accounts payable and accruals through issuance of 236 note payable	`ReliefOfAccountsPayableAndAccrualsThroughIssuanceOfNotePayable`	$28.00K	USD	2 Qtrs
Common stock issued for conversion of debt and accrued interest to equity (2,369,429 shares) includes $69,075 of accrued interest	`CommonStockIssuedForConversionOfDebtAndAccruedInterestToEquity`	$568.66K	USD	2 Qtrs
Common stock issued for conversion of debt and accrued interest to equity (2,369,429 shares) includes $69,075 of accrued interest	`CommonStockIssuedForConversionOfDebtAndAccruedInterestToEquity`	-	USD	2 Qtrs
Write off of stock subscription receivable	`WriteOffOfStockSubscriptionReceivable`	-	USD	2 Qtrs
Write off of stock subscription receivable	`WriteOffOfStockSubscriptionReceivable`	$200.00K	USD	2 Qtrs
Issuance of common stock for prepaid services	`IssuanceOfCommonStockForPrepaidServices`	-	USD	2 Qtrs
Issuance of common stock for prepaid services	`IssuanceOfCommonStockForPrepaidServices`	$15.00K	USD	2 Qtrs

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