10-K Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001493152-17-014422`
Period End Date	20170831
Filing Date	20171208
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	nvos-20170831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 40 Cash Flow Statement 55 Stockholders Equity 16

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.08K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.31K	USD	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
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$785.78K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$372.02K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$735.33K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$784.83K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$252.54K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	201.84M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	167.80M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$156.22K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	167.80M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.57M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	201.84M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$318.72K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$302.95K	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$1.16M	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$399.40K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.51M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.04M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$341.66K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$235.42K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$832.77K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$403.12K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.84M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.81M	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$13.17K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$147.52K	USD	Point-in-time
Debentures, related parties	`SecuredDebtCurrent`	$4.88M	USD	Point-in-time
Debentures, related parties	`SecuredDebtCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.27M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$5.11M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	-	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	$414.35K	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	$11.58K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.80M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.98M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible Preferred stock; $0.001 par value; 1,000,000 shares authorized; 0 and 0 shares issued and outstanding at August 31, 2017 and 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001par value; 499,000,000 shares authorized; 201,837,254 and 167,797,406 shares issued and outstanding at August 31, 2017 and 2016	`CommonStockValue`	$92.00	USD	Point-in-time
Common stock; $0.001par value; 499,000,000 shares authorized; 201,837,254 and 167,797,406 shares issued and outstanding at August 31, 2017 and 2016	`CommonStockValue`	$201.84K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.38M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.28M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.35M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' deficit	`StockholdersEquity`	$-4.27M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' deficit	`StockholdersEquity`	$-7.08M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-20.54K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-12.67K	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.09M	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-6.69M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$5.51M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$2.89M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$7.18M	USD	Annual
Revenues	`Revenues`	$7.96M	USD	Annual
Cost of revenues	`CostOfRevenue`	$4.67M	USD	Annual
Cost of revenues	`CostOfRevenue`	$4.99M	USD	Annual
Gross profit	`GrossProfit`	$2.98M	USD	Annual
Gross profit	`GrossProfit`	$2.51M	USD	Annual
Selling expenses	`SellingExpense`	$59.03K	USD	Annual
Selling expenses	`SellingExpense`	$25.61K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.36M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.03M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.09M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.39M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$121.95K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-113.04K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$34.14K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$55.21K	USD	Annual
Interest expense	`InterestExpense`	$523.34K	USD	Annual
Interest expense	`InterestExpense`	$554.66K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-468.13K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-520.52K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-346.18K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-633.56K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$-111.70K	USD	Annual
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-346.18K	USD	Annual
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.88K	USD	Annual
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-5.65K	USD	Annual
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-738.38K	USD	Annual
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-340.53K	USD	Annual
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-346.18K	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-54.72K	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-36.60K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-781.87K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-400.89K	USD	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	177.68M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	167.80M	shares	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-346.18K	USD	Annual
Depreciation	`Depreciation`	$72.59K	USD	Annual
Depreciation	`Depreciation`	$67.78K	USD	Annual
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$-252.43K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$289.32K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-412.22K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$84.16K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-9.32K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-412.88K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-152.13K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-233.30K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$89.94K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$310.79K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$338.88K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-810.69K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$101.39K	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$54.98K	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.24K	USD	Annual
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	-	USD	Annual
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	$407.32K	USD	Annual
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	$378.10K	USD	Annual
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	-	USD	Annual
Deposit paid for acquisition	`PaymentsForPreviousAcquisition`	$1.10M	USD	Annual
Deposit paid for acquisition	`PaymentsForPreviousAcquisition`	-	USD	Annual
Cash acquired in reverse merger transaction	`CashAcquiredFromAcquisition`	-	USD	Annual
Cash acquired in reverse merger transaction	`CashAcquiredFromAcquisition`	$12.25K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-462.30K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-749.53K	USD	Annual
Advances (repayments) to related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-85.06K	USD	Annual
Advances (repayments) to related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$466.29K	USD	Annual
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.39M	USD	Annual
Offering cost paid	`OfferingCostPaid`	$62.50K	USD	Annual
Offering cost paid	`OfferingCostPaid`	-	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$131.45K	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$64.08K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$402.21K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.11M	USD	Annual
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$238.94K	USD	Annual
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$945.00	USD	Annual
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.79M	USD	Annual
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$42.24K	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$68.08K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$110.31K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$68.08K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$110.31K	USD	Point-in-time
Interest	`InterestPaidNet`	$186.62K	USD	Annual
Interest	`InterestPaidNet`	$177.27K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Note payable issued for purchase of assets	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	Annual
Note payable issued for purchase of assets	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$399.40K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.09M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-6.69M	USD	Point-in-time
Foreign currency translation loss/gain	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$-54.83K	USD	Annual
Foreign currency translation loss/gain	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$-37.59K	USD	Annual
Common stock issued in connection with reverse merger transaction	`StockIssuedDuringPeriodValueAcquisitions`	$6.90K	USD	Annual
Common stock issued in connection with reverse merger transaction, shares	`StockIssuedDuringPeriodSharesAcquisitions`	22.75M	shares	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$3.39M	USD	Annual
Common stock issued for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	11.29M	shares	Annual
Offering costs	`OfferingCosts`	$-62.50K	USD	Annual
Fair value of vested stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$252.43K	USD	Annual
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-346.18K	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.09M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-6.69M	USD	Point-in-time

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