10-Q Filing

NOVO INTEGRATED SCIENCES, INC. CIK: 1138978 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-000920`
Period End Date	20201130
Filing Date	20210113
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	nvos-20201130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 40 Cash Flow Statement 51 Stockholders Equity 16

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.97M	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`	$2.07M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.73M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	$225.92K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other receivables, current portion	`OtherReceivablesNetCurrent`	$302.66K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$191.72K	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`	$497.44K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	235.53M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	234.66M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$333.16K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	234.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	235.53M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$353.66K	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$26.62M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$26.29M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.67M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.81M	USD	Point-in-time
Other receivables, net of current portion	`LongTermInvestmentsAndReceivablesNet`	$365.99K	USD	Point-in-time
Other receivables, net of current portion	`LongTermInvestmentsAndReceivablesNet`	$287.77K	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$385.25K	USD	Point-in-time
Acquisition deposits	`DepositsAssetsNoncurrent`	$383.70K	USD	Point-in-time
Goodwill	`Goodwill`	$639.51K	USD	Point-in-time
Goodwill	`Goodwill`	$636.94K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$34.84M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$35.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$883.77K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$895.43K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$227.05K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$194.71K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$350.56K	USD	Point-in-time
Accrued interest (principally to related parties)	`InterestPayableCurrent`	$346.26K	USD	Point-in-time
Government loans and note payable	`NotesAndLoansPayableCurrent`	$83.54K	USD	Point-in-time
Government loans and note payable	`NotesAndLoansPayableCurrent`	$83.29K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$528.21K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$481.25K	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$556.67K	USD	Point-in-time
Operating lease liability, current portion	`OperatingLeaseLiabilityCurrent`	$563.79K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.60M	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$952.06K	USD	Point-in-time
Debentures, related parties	`SecuredLongTermDebt`	$955.90K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.27M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$2.14M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.82M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.69M	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, 2020 and August 31, 2020, respectively	`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, 2020 and August 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 235,531,411 and 234,662,363 shares issued and outstanding at November 30, 2020 and August 31, 2020, respectively	`CommonStockValue`	$234.66K	USD	Point-in-time
Common stock; $0.001 par value; 499,000,000 shares authorized; 235,531,411 and 234,662,363 shares issued and outstanding at November 30, 2020 and August 31, 2020, respectively	`CommonStockValue`	$235.53K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$45.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$44.69M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.21M	USD	Point-in-time
Other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.28M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' equity	`StockholdersEquity`	$29.20M	USD	Point-in-time
Total Novo Integrated Sciences, Inc. stockholders' equity	`StockholdersEquity`	$29.62M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-49.86K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-51.72K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.15M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$34.84M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$35.39M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.16M	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.55M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.63M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$1.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$915.67K	USD	1 Quarter
Gross profit	`GrossProfit`	$811.45K	USD	1 Quarter
Selling expenses	`SellingExpense`	$1.24K	USD	1 Quarter
Selling expenses	`SellingExpense`	$1.22K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$991.27K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.57M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.57M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$992.49K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-76.83K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-757.72K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$28.20K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$8.56K	USD	1 Quarter
Interest expense	`InterestExpense`	$23.94K	USD	1 Quarter
Interest expense	`InterestExpense`	$40.33K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-12.13K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-15.38K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-88.96K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-773.10K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Net loss	`ProfitLoss`	$-773.10K	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-839.00	USD	1 Quarter
Net loss attributed to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.63K	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`	$-771.47K	USD	1 Quarter
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Net loss	`ProfitLoss`	$-773.10K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$10.60K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.20K	USD	1 Quarter
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-762.51K	USD	1 Quarter
Comprehensive loss:	`ComprehensiveIncomeNetOfTax`	$-83.76K	USD	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	235.08M	shares	1 Quarter
Weighted average common shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	223.87M	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 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Net loss	`ProfitLoss`	$-773.10K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$357.92K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$19.92K	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$248.00K	USD	1 Quarter
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Operating lease expense	`OperatingLeaseExpense`	$125.56K	USD	1 Quarter
Operating lease expense	`OperatingLeaseExpense`	$149.38K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$165.45K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-274.58K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$51.30K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$300.74K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-71.07K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.55K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-21.96K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$31.07K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$2.86K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$77.90K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-122.51K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$-146.61K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-297.86K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-148.10K	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 investing activities	`NetCashProvidedByUsedInInvestingActivities`	$114.02K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Repayments to related parties	`RepaymentsOfRelatedPartyDebt`	$267.77K	USD	Point-in-time
Repayments to related parties	`RepaymentsOfRelatedPartyDebt`	$83.25K	USD	1 Quarter
Repayments to related parties	`RepaymentsOfRelatedPartyDebt`	$48.39K	USD	1 Quarter
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$113.40K	USD	1 Quarter
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$92.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$43.61K	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`	$7.17K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.74K	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-97.33K	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-151.96K	USD	1 Quarter
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.97M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.08M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.07M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.93M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.97M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.08M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$2.07M	USD	Point-in-time
Interest	`InterestPaidNet`	$19.64K	USD	1 Quarter
Interest	`InterestPaidNet`	$25.61K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.57M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.57M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.15M	USD	Point-in-time
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$113.40K	USD	1 Quarter
Common stock issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$92.00K	USD	1 Quarter
Common stock issued for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	354,369.00	shares	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$248.00K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$10.37K	USD	1 Quarter
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToNoncontrollingInterest`	$5.08K	USD	1 Quarter
Net loss	`ProfitLoss`	$-88.96K	USD	1 Quarter
Net loss	`ProfitLoss`	$-773.10K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.57M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.57M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$29.15M	USD	Point-in-time

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