10-Q Filing

MEDIXALL GROUP, INC. CIK: 1601280 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001553350-20-000538`
Period End Date	20200331
Filing Date	20200616
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	mdxl-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 24 Cash Flow Statement 44 Stockholders Equity 16

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Convertible Preferred Series A stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible Preferred Series A stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible Preferred Series A stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Convertible Preferred Series A stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$446.22K	USD	Point-in-time
Convertible Preferred Series A stock, shares issued	`PreferredStockSharesIssued`	264,894.00	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$152.82K	USD	Point-in-time
Convertible Preferred Series A stock, shares issued	`PreferredStockSharesIssued`	264,894.00	shares	Point-in-time
Convertible Preferred Series A stock, shares outstanding	`PreferredStockSharesOutstanding`	264,894.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$446.22K	USD	Point-in-time
Convertible Preferred Series A stock, shares outstanding	`PreferredStockSharesOutstanding`	264,894.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$152.82K	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$31.30K	USD	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$21.66K	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Right-of-use operating lease asset	`OperatingLeaseRightOfUseAsset`	$113.39K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Right-of-use operating lease asset	`OperatingLeaseRightOfUseAsset`	$96.24K	USD	Point-in-time
Website and development costs	`CapitalizedComputerSoftwareNet`	$356.70K	USD	Point-in-time
Website and development costs	`CapitalizedComputerSoftwareNet`	$356.70K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	80.95M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	86.92M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	86.92M	shares	Point-in-time
Total assets	`Assets`	$637.07K	USD	Point-in-time
Total assets	`Assets`	$937.98K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	80.95M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$307.05K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$160.78K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$261.80K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$137.85K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$71.36K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$73.61K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$518.51K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$493.94K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$27.07K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$46.28K	USD	Point-in-time
Total liabilities	`Liabilities`	$540.22K	USD	Point-in-time
Total liabilities	`Liabilities`	$545.58K	USD	Point-in-time
Convertible Preferred Series A stock, $0.001 par value, 5,000,000 authorized; 264,894 issued and outstanding	`PreferredStockValue`	$265.00	USD	Point-in-time
Convertible Preferred Series A stock, $0.001 par value, 5,000,000 authorized; 264,894 issued and outstanding	`PreferredStockValue`	$265.00	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 86,823,930 and 80,952,555 shares issued and outstanding	`CommonStockValue`	$80.95K	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 86,823,930 and 80,952,555 shares issued and outstanding	`CommonStockValue`	$86.82K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$15.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$13.97M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-13.65M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$91.49K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$531.44K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$542.96K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$397.76K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$937.98K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$637.07K	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	$332.00	USD	1 Quarter
Professional fees	`ProfessionalFees`	$197.84K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$647.26K	USD	1 Quarter
Professional fees - related party	`ProfessionalFeesRelatedParty`	$37.50K	USD	1 Quarter
Professional fees - related party	`ProfessionalFeesRelatedParty`	$93.00K	USD	1 Quarter
Management fee - related party	`ManagementFeeRelatedParty`	$120.00K	USD	1 Quarter
Management fee - related party	`ManagementFeeRelatedParty`	$120.00K	USD	1 Quarter
Personnel related expenses	`LaborAndRelatedExpense`	$254.78K	USD	1 Quarter
Personnel related expenses	`LaborAndRelatedExpense`	$961.49K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$84.83K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$79.11K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.85M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$744.73K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-744.40K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.85M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-744.40K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	71.01M	shares	1 Quarter
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	84.67M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-744.40K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Depreciation	`Depreciation`	$1.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.00K	USD	1 Quarter
Stock issued as compensation for services	`ShareBasedCompensation`	$95.00K	USD	1 Quarter
Stock issued as compensation for services	`ShareBasedCompensation`	$1.04M	USD	1 Quarter
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	1 Quarter
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$123.29K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$146.27K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$30.27K	USD	1 Quarter
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	1 Quarter
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-123.95K	USD	1 Quarter
Right-of-use operating lease asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$16.20K	USD	1 Quarter
Right-of-use operating lease asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$17.15K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$16.96K	USD	1 Quarter
Operating lease liability	`IncreaseDecreaseInOperatingLeaseLiability`	$14.85K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-740.06K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-784.51K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquireFurnitureAndFixtures`	$10.63K	USD	1 Quarter
Purchase of furniture and equipment	`PaymentsToAcquireFurnitureAndFixtures`	$3.92K	USD	1 Quarter
Website development costs	`PaymentsToAcquireSoftware`	-	USD	1 Quarter
Website development costs	`PaymentsToAcquireSoftware`	$5.25K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.63K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.17K	USD	1 Quarter
Proceeds from the sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$607.87K	USD	1 Quarter
Proceeds from the sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$501.75K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-141.36K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-293.40K	USD	1 Quarter
Cash at beginning of period	`Cash`	$60.15K	USD	Point-in-time
Cash at beginning of period	`Cash`	$446.22K	USD	Point-in-time
Cash at beginning of period	`Cash`	$201.51K	USD	Point-in-time
Cash at beginning of period	`Cash`	$152.82K	USD	Point-in-time
Cash at end of period	`Cash`	$60.15K	USD	Point-in-time
Cash at end of period	`Cash`	$446.22K	USD	Point-in-time
Cash at end of period	`Cash`	$201.51K	USD	Point-in-time
Cash at end of period	`Cash`	$152.82K	USD	Point-in-time
Interest paid in cash	`InterestPaidNet`	-	USD	1 Quarter
Interest paid in cash	`InterestPaidNet`	-	USD	1 Quarter
Income taxes paid in cash	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid in cash	`IncomeTaxesPaid`	-	USD	1 Quarter
Reclassification of stock compensation from accounts payable and accrued expenses to common stock	`ReclassificationOfStockCompensationFromOtherLiabilitiesToCommonStock`	-	USD	1 Quarter
Reclassification of stock compensation from accounts payable and accrued expenses to common stock	`ReclassificationOfStockCompensationFromOtherLiabilitiesToCommonStock`	$30.00K	USD	1 Quarter
Right-of-use lease asset obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	1 Quarter
Right-of-use lease asset obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$179.34K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$91.49K	USD	Point-in-time
Balance	`StockholdersEquity`	$531.44K	USD	Point-in-time
Balance	`StockholdersEquity`	$542.96K	USD	Point-in-time
Balance	`StockholdersEquity`	$397.76K	USD	Point-in-time
Proceeds received pursuant to Private Placement Memorandum, net of offering costs	`StockIssuedDuringPeriodValueOther`	$501.75K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of offering costs	`StockIssuedDuringPeriodValueOther`	$607.87K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$125.00K	USD	1 Quarter
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$1.04M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-744.40K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.85M	USD	1 Quarter
Balance	`StockholdersEquity`	$91.49K	USD	Point-in-time
Balance	`StockholdersEquity`	$531.44K	USD	Point-in-time
Balance	`StockholdersEquity`	$542.96K	USD	Point-in-time
Balance	`StockholdersEquity`	$397.76K	USD	Point-in-time

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