10-Q Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-000494`
Period End Date	20171130
Filing Date	20180112
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	nvos-20171130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 40 Cash Flow Statement 48

Balance Sheet 72 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.31K	USD	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$300.15K	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.29M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.13M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$380.29K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$372.02K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$252.54K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$192.03K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	201.84M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.65M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	201.84M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.16M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$302.95K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	201.84M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$283.87K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	201.84M	shares	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$1.16M	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$1.13M	USD	Point-in-time
Goodwill	`Goodwill`	$399.40K	USD	Point-in-time
Goodwill	`Goodwill`	$388.05K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.96M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.70M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$360.58K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$341.66K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$403.12K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$437.51K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.59M	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`	$6.07K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.97M	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`	$4.97M	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	$402.37K	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	$414.35K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.34M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.80M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; $0.001par value; 499,000,000 shares authorized; 201,837,254 and 201,837,254 shares issued and outstanding at November 30, 2017 and August 31, 2017	`CommonStockValue`	$201.84K	USD	Point-in-time
Common stock; $0.001par value; 499,000,000 shares authorized; 201,837,254 and 201,837,254 shares issued and outstanding at November 30, 2017 and August 31, 2017	`CommonStockValue`	$201.84K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.38M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.37M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.09M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' deficit	`StockholdersEquity`	$-4.36M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' deficit	`StockholdersEquity`	$-4.27M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-23.26K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-20.54K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.38M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$5.51M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	`LiabilitiesAndStockholdersEquity`	$4.96M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.82M	USD	1 Quarter
Revenues	`Revenues`	$2.25M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.16M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$654.03K	USD	1 Quarter
Gross profit	`GrossProfit`	$846.04K	USD	1 Quarter
Selling expenses	`SellingExpense`	$38.14K	USD	1 Quarter
Selling expenses	`SellingExpense`	$10.30K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$980.27K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$580.86K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$591.16K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.02M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$62.86K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-172.37K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$51.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.98K	USD	1 Quarter
Interest expense	`InterestExpense`	$134.15K	USD	1 Quarter
Interest expense	`InterestExpense`	$117.09K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-134.10K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-106.11K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-43.25K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-306.47K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-54.22K	USD	1 Quarter
Net loss	`ProfitLoss`	$-360.69K	USD	1 Quarter
Net loss	`ProfitLoss`	$-43.25K	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-3.40K	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.73K	USD	1 Quarter
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-41.52K	USD	1 Quarter
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-357.29K	USD	1 Quarter
Net loss	`ProfitLoss`	$-360.69K	USD	1 Quarter
Net loss	`ProfitLoss`	$-43.25K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$124.19K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$161.14K	USD	1 Quarter
Comprehensive income (loss):	`ComprehensiveIncomeNetOfTax`	$-236.50K	USD	1 Quarter
Comprehensive income (loss):	`ComprehensiveIncomeNetOfTax`	$117.89K	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	201.84M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	167.80M	shares	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-360.69K	USD	1 Quarter
Net loss	`ProfitLoss`	$-43.25K	USD	1 Quarter
Depreciation	`Depreciation`	$15.00K	USD	1 Quarter
Depreciation	`Depreciation`	$15.58K	USD	1 Quarter
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	-	USD	1 Quarter
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$-142.66K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$197.39K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$47.70K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-54.79K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-20.46K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-82.70K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-19.70K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$25.93K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$29.41K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$47.10K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$83.13K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-351.81K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$34.45K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.24K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.15K	USD	1 Quarter
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	$19.35K	USD	1 Quarter
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	-	USD	1 Quarter
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	$376.85K	USD	1 Quarter
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	-	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-23.59K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$362.70K	USD	1 Quarter
Repayments from related parties	`RepaymentsOfRelatedPartyDebt`	$192.39K	USD	1 Quarter
Repayments from related parties	`RepaymentsOfRelatedPartyDebt`	$176.80K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$10.10K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$7.12K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-183.93K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-202.49K	USD	1 Quarter
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.83K	USD	1 Quarter
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-41.61K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$189.84K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-600.94K	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$110.31K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.30M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$300.15K	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`	$110.31K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.30M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$300.15K	USD	Point-in-time
Interest	`InterestPaidNet`	$99.76K	USD	1 Quarter
Interest	`InterestPaidNet`	$53.85K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

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