10-Q Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-000508`
Period End Date	20191130
Filing Date	20200113
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	nvos-20191130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 40 Cash Flow Statement 52 Stockholders Equity 15

Balance Sheet 82 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`	$1.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.08M	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`	$1.63M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.46M	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`	$300.99K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables, current portion	`OtherReceivablesNetCurrent`	$301.23K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$250.40K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$302.25K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	499.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	223.69M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.17M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	224.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	223.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	224.05M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$391.67K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$410.19K	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$22.36M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$22.36M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$3.00M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.89M	USD	Point-in-time
Other receivables, net of current portion	`LongTermInvestmentsAndReceivablesNet`	$1.07M	USD	Point-in-time
Other receivables, net of current portion	`LongTermInvestmentsAndReceivablesNet`	$1.06M	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$606.61K	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$716.69K	USD	Point-in-time
Goodwill	`Goodwill`	$623.08K	USD	Point-in-time
Goodwill	`Goodwill`	$625.07K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.10M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$205.78K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$184.24K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$248.58K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$326.94K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$920.08K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$840.14K	USD	Point-in-time
Note payable, current portion	`NotesPayableCurrent`	-	USD	Point-in-time
Note payable, current portion	`NotesPayableCurrent`	-	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$508.31K	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$519.23K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.03M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$1.21M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$1.20M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.38M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.50M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.73M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.53M	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 November 30, 2019 and August 31, 2019	`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 November 30, 2019 and August 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 224,045,876 and 223,691,507 shares issued and outstanding at November 30, 2019 and August 31, 2019	`CommonStockValue`	$224.05K	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 224,045,876 and 223,691,507 shares issued and outstanding at November 30, 2019 and August 31, 2019	`CommonStockValue`	$223.69K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$35.93M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$35.81M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.14M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.59M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' equity	`StockholdersEquity`	$25.61M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' equity	`StockholdersEquity`	$25.58M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-39.63K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-40.59K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$172.77K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$517.71K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.10M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.27M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.55M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.31M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.63M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$883.54K	USD	1 Quarter
Gross profit	`GrossProfit`	$915.67K	USD	1 Quarter
Selling expenses	`SellingExpense`	$25.22K	USD	1 Quarter
Selling expenses	`SellingExpense`	$1.22K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$991.27K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$992.49K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.10M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-76.83K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-215.35K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$5.09K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$28.20K	USD	1 Quarter
Interest expense	`OtherNonoperatingExpense`	$46.32K	USD	1 Quarter
Interest expense	`OtherNonoperatingExpense`	$40.33K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-41.23K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-12.13K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-88.96K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-256.58K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-256.58K	USD	1 Quarter
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-839.00	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-5.17K	USD	1 Quarter
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-88.12K	USD	1 Quarter
Net loss attributed to Novo Integrated Sciences, Inc.	`NetIncomeLoss`	$-251.42K	USD	1 Quarter
Net loss	`ProfitLoss`	$-256.58K	USD	1 Quarter
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.20K	USD	1 Quarter
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.78K	USD	1 Quarter
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-258.37K	USD	1 Quarter
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-83.76K	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	223.87M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	207.94M	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 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-256.58K	USD	1 Quarter
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Depreciation	`Depreciation`	$22.60K	USD	1 Quarter
Depreciation	`Depreciation`	$19.92K	USD	1 Quarter
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue`	-	USD	1 Quarter
Fair value of vested stock options	`SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue`	$-70.85K	USD	1 Quarter
Operating lease expense	`OperatingLeaseExpense`	$125.56K	USD	1 Quarter
Operating lease expense	`OperatingLeaseExpense`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$165.45K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$90.15K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.35K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$51.30K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$81.22K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-71.07K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-15.45K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-21.96K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$77.90K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$14.21K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	-	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-122.51K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-162.96K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-297.86K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$74.41K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Payment for acquisition deposit	`PaymentsForOtherDeposits`	-	USD	1 Quarter
Payment for acquisition deposit	`PaymentsForOtherDeposits`	$264.19K	USD	1 Quarter
Return of acquisition deposit	`ProceedsFromOtherDeposits`	-	USD	1 Quarter
Return of acquisition deposit	`ProceedsFromOtherDeposits`	$378.20K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-74.41K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$114.02K	USD	1 Quarter
Repayments to related parties	`RepaymentsOfRelatedPartyDebt`	$34.55K	USD	1 Quarter
Repayments to related parties	`RepaymentsOfRelatedPartyDebt`	$83.25K	USD	1 Quarter
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$531.93K	USD	1 Quarter
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$113.40K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$497.38K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.15K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-6.58K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.74K	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$253.43K	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-151.96K	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$929.14K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.08M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$675.71K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$929.14K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.08M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$675.71K	USD	Point-in-time
Interest	`InterestPaidNet`	$34.78K	USD	1 Quarter
Interest	`InterestPaidNet`	$25.61K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$172.77K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.57M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$517.71K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$531.93K	USD	1 Quarter
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$113.40K	USD	1 Quarter
Fair value of vested stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$70.85K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$-1.25K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$5.08K	USD	1 Quarter
Net loss	`ProfitLoss`	$-256.58K	USD	1 Quarter
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$172.77K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.57M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$517.71K	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time

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