10-K Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001493152-18-015238`
Period End Date	20180831
Filing Date	20181106
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	nvos-20180831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 40 Cash Flow Statement 58 Stockholders Equity 23

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
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$675.71K	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.34M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables, current portion	`OtherReceivablesNetCurrent`	$-372.02K	USD	Point-in-time
Other receivables, current portion	`OtherReceivablesNetCurrent`	$393.82K	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
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`	$161.84K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	207.88M	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`	$2.57M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$400.32K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	201.84M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	207.88M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$302.95K	USD	Point-in-time
Other receivables, net of current portion	`LongTermInvestmentsAndReceivablesNet`	-	USD	Point-in-time
Other receivables, net of current portion	`LongTermInvestmentsAndReceivablesNet`	$57.35K	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$1.11M	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$1.16M	USD	Point-in-time
Goodwill	`Goodwill`	$399.40K	USD	Point-in-time
Goodwill	`Goodwill`	$604.11K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$4.74M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.31M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$384.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$341.66K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$156.12K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$403.12K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.81M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$1.12M	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$382.35K	USD	Point-in-time
Notes payable, current portion	`NotesPayableCurrent`	$13.17K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.35M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$1.22M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$5.11M	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	$414.35K	USD	Point-in-time
Notes payable, net of current portion	`LongTermNotesPayable`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$9.80M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.57M	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 August 31, 2018 and 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 August 31, 2018 and 2017	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 207,881,743 and 201,837,254 shares issued and outstanding at August 31, 2018 and 2017	`CommonStockValue`	$201.84K	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 207,881,743 and 201,837,254 shares issued and outstanding at August 31, 2018 and 2017	`CommonStockValue`	$207.88K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$3.38M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.14M	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`	$-11.20M	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`	$201.39K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-20.54K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-28.62K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.09M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$172.77K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$5.51M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	`LiabilitiesAndStockholdersEquity`	$4.74M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$7.96M	USD	Annual
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.89M	USD	Annual
Cost of revenues	`CostOfRevenue`	$5.47M	USD	Annual
Cost of revenues	`CostOfRevenue`	$4.99M	USD	Annual
Gross profit	`GrossProfit`	$2.98M	USD	Annual
Gross profit	`GrossProfit`	$3.42M	USD	Annual
Selling expenses	`SellingExpense`	$59.03K	USD	Annual
Selling expenses	`SellingExpense`	$109.30K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$4.88M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.03M	USD	Annual
Total operating expenses	`OperatingExpenses`	$4.99M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.09M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-1.57M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-113.04K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$34.14K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$16.70K	USD	Annual
Interest expense	`InterestExpense`	$554.66K	USD	Annual
Interest expense	`InterestExpense`	$564.47K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-520.52K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-547.76K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.12M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-633.56K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$111.70K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-2.12M	USD	Annual
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-9.18K	USD	Annual
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.88K	USD	Annual
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-738.38K	USD	Annual
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-2.11M	USD	Annual
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-2.12M	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-36.60K	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-101.03K	USD	Annual
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-781.87K	USD	Annual
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-2.22M	USD	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	177.68M	shares	Annual
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	207.57M	shares	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-2.12M	USD	Annual
Depreciation	`Depreciation`	$67.78K	USD	Annual
Depreciation	`Depreciation`	$73.45K	USD	Annual
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$252.43K	USD	Annual
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1`	$1.27M	USD	Annual
Expense associated with modified stock option terms	`ExpenseAssociatedWithModifiedStockOptionTerms`	-	USD	Annual
Expense associated with modified stock option terms	`ExpenseAssociatedWithModifiedStockOptionTerms`	$31.54K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$289.32K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$263.15K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$84.16K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-23.24K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-331.87K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-412.88K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$89.94K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$58.33K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$310.79K	USD	Annual
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$316.23K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-934.50K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-810.69K	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.24K	USD	Annual
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$178.63K	USD	Annual
Deposit paid for acquisition	`PaymentsForPreviousAcquisition`	-	USD	Annual
Deposit paid for acquisition	`PaymentsForPreviousAcquisition`	$1.10M	USD	Annual
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	$38.60K	USD	Annual
Amounts loaned for other receivables	`PaymentsForProceedsFromLoansReceivable`	-	USD	Annual
Cash acquired in reverse merger transaction	`CashAcquiredFromAcquisition`	$12.25K	USD	Annual
Cash acquired in reverse merger transaction	`CashAcquiredFromAcquisition`	-	USD	Annual
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	$378.10K	USD	Annual
Repayments of other receivables	`ProceedsFromRepaymentsOfOtherDebt`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-749.53K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-217.23K	USD	Annual
Advances (repayments) to related parties	`RepaymentsOfRelatedPartyDebt`	$20.14K	USD	Annual
Advances (repayments) to related parties	`RepaymentsOfRelatedPartyDebt`	$85.06K	USD	Annual
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.39M	USD	Annual
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$15.56K	USD	Annual
Offering cost paid	`OfferingCostPaid`	$62.50K	USD	Annual
Offering cost paid	`OfferingCostPaid`	-	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$7.00K	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$131.45K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.57K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.11M	USD	Annual
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-57.56K	USD	Annual
Effect of exchange rate changes on cash and equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$238.94K	USD	Annual
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.79M	USD	Annual
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.22M	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.90M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$675.71K	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`	$675.71K	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`	$240.37K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Note payable issued for purchase of assets	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	$375.45K	USD	Annual
Note payable issued for purchase of assets	`NoncashOrPartNoncashAcquisitionDebtAssumed1`	-	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.09M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$172.77K	USD	Point-in-time
Common stock issued in connection with reverse merger transaction	`StockIssuedDuringPeriodValueInConnectionWithReverseMergerTransaction`	$6.90K	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$3.39M	USD	Annual
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$15.56K	USD	Annual
Common stock issued for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	11.29M	shares	Annual
Common stock issued for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	25,104.00	shares	Annual
Offering costs	`OfferingCosts`	$-62.50K	USD	Annual
Fair value of vested stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.27M	USD	Annual
Fair value of vested stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$252.43K	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$-99.93K	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$-37.59K	USD	Annual
Common stock issued for acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$6.90K	USD	Annual
Common stock issued for acquisition, shares	`StockIssuedDuringPeriodSharesAcquisitions`	22.75M	shares	Annual
Common stock issued for conversion of debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$5.12M	USD	Annual
Cancellation of common stock previously issued	`StockIssuedDuringPeriodValueShareBasedCompensationForfeited`	-	USD	Annual
Fair value of modification of stock option terms	`FairValueOfModificationOfStockOptionTerms`	$31.54K	USD	Annual
Net loss	`ProfitLoss`	$-745.26K	USD	Annual
Net loss	`ProfitLoss`	$-2.12M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.29M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.09M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$172.77K	USD	Point-in-time

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