10-Q Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-005063`
Period End Date	20180228
Filing Date	20180412
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	nvos-20180228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 80 Cash Flow Statement 50

Balance Sheet 74 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`	$1.04M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$103.06K	USD	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.13M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.35M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$402.11K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$372.02K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$217.29K	USD	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
Total current assets	`AssetsCurrent`	$3.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.65M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	214.67M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$302.95K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$314.44K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	214.67M	shares	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`	$1.14M	USD	Point-in-time
Goodwill	`Goodwill`	$399.40K	USD	Point-in-time
Goodwill	`Goodwill`	$616.83K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.07M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.70M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$291.10K	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`	$142.21K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$880.91K	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`	$6.21K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.06M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$1.25M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$5.11M	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	$404.71K	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	$414.35K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.80M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`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 February 28, 2018 and August 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Convertible Preferred stock; $0.001 par value; 1,000,000 shares authorized; 0 and 0 shares issued and outstanding at February 28, 2018 and August 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001par value; 499,000,000 shares authorized; 214,673,720 and 201,837,254 shares issued and outstanding at February 28, 2018 and August 31, 2017	`CommonStockValue`	$201.84K	USD	Point-in-time
Common stock; $0.001par value; 499,000,000 shares authorized; 214,673,720 and 201,837,254 shares issued and outstanding at February 28, 2018 and August 31, 2017	`CommonStockValue`	$214.67K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.38M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.24M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.82M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders equity (deficit)	`StockholdersEquity`	$-4.27M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders equity (deficit)	`StockholdersEquity`	$378.63K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-20.54K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-25.33K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$353.30K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$5.07M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$5.51M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.65M	USD	2 Qtrs
Revenues	`Revenues`	$1.83M	USD	1 Quarter
Revenues	`Revenues`	$4.40M	USD	2 Qtrs
Revenues	`Revenues`	$2.15M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.31M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.19M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$2.72M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$2.35M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.30M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.68M	USD	2 Qtrs
Gross profit	`GrossProfit`	$644.71K	USD	1 Quarter
Gross profit	`GrossProfit`	$838.32K	USD	1 Quarter
Selling expenses	`SellingExpense`	$30.60K	USD	1 Quarter
Selling expenses	`SellingExpense`	$8.26K	USD	1 Quarter
Selling expenses	`SellingExpense`	$68.74K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$18.56K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.17M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.91M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.93M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$589.38K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.97M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.19M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$2.98M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$597.64K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.13M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$47.08K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$109.94K	USD	2 Qtrs
Income (loss) from operations	`OperatingIncomeLoss`	$-1.30M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$211.00	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$11.01K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$160.00	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$21.99K	USD	2 Qtrs
Interest expense	`InterestExpense`	$438.29K	USD	2 Qtrs
Interest expense	`InterestExpense`	$114.62K	USD	1 Quarter
Interest expense	`InterestExpense`	$304.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$231.71K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-438.07K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-103.61K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-303.97K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-209.72K	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-99.78K	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.43M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-56.53K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.74M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-54.22K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-99.78K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.74M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.38M	USD	1 Quarter
Net loss	`ProfitLoss`	$-56.53K	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-5.36K	USD	2 Qtrs
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.96K	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-4.49K	USD	2 Qtrs
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-2.76K	USD	1 Quarter
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-53.77K	USD	1 Quarter
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-1.73M	USD	2 Qtrs
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-95.29K	USD	2 Qtrs
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-1.37M	USD	1 Quarter
Net loss	`ProfitLoss`	$-99.78K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.74M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.38M	USD	1 Quarter
Net loss	`ProfitLoss`	$-56.53K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$66.89K	USD	2 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-211.53K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-87.34K	USD	2 Qtrs
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-94.25K	USD	1 Quarter
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-1.59M	USD	1 Quarter
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-1.82M	USD	2 Qtrs
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-32.89K	USD	2 Qtrs
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-150.78K	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	203.95M	shares	2 Qtrs
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	167.80M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	206.09M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	167.80M	shares	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-99.78K	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.74M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-1.38M	USD	1 Quarter
Net loss	`ProfitLoss`	$-56.53K	USD	1 Quarter
Depreciation	`Depreciation`	$30.54K	USD	2 Qtrs
Depreciation	`Depreciation`	$32.72K	USD	2 Qtrs
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	-	USD	2 Qtrs
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$-1.11M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$318.23K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$250.13K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-31.77K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-30.33K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$89.90K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$80.08K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.61K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-43.84K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$158.04K	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$303.70K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-106.14K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-474.93K	USD	2 Qtrs
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.32K	USD	2 Qtrs
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.43K	USD	2 Qtrs
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	$39.22K	USD	2 Qtrs
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	-	USD	2 Qtrs
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	$377.55K	USD	2 Qtrs
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	-	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-82.65K	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$360.23K	USD	2 Qtrs
Payments to related parties	`RepaymentsOfRelatedPartyDebt`	$263.40K	USD	2 Qtrs
Payments to related parties	`RepaymentsOfRelatedPartyDebt`	$202.31K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$57.99K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$7.11K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-260.30K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-270.51K	USD	2 Qtrs
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-31.88K	USD	2 Qtrs
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.04K	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.25K	USD	2 Qtrs
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-859.97K	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$103.06K	USD	Point-in-time
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, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.04M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$103.06K	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
Interest	`InterestPaidNet`	$81.60K	USD	2 Qtrs
Interest	`InterestPaidNet`	$128.10K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

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