10-Q Filing

MEDIXALL GROUP, INC. CIK: 1601280 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001553350-21-000868`
Period End Date	20210630
Filing Date	20210930
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	mdxl_10q-063021_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 56 Cash Flow Statement 50 Stockholders Equity 25

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$125.35K	USD	Point-in-time
Cash	`Cash`	$572.43K	USD	Point-in-time
Cash	`Cash`	$446.22K	USD	Point-in-time
Cash	`Cash`	$645.76K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseCurrent`	$480.00K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseCurrent`	$465.00K	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$8.00K	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.13M	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
Total current assets	`AssetsCurrent`	$590.35K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	105.39M	shares	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$26.54K	USD	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$23.70K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	98.90M	shares	Point-in-time
Right-of-use-operating lease asset	`OperatingLeaseRightOfUseAsset`	$43.76K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	105.39M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	98.90M	shares	Point-in-time
Right-of-use-operating lease asset	`OperatingLeaseRightOfUseAsset`	$7.00K	USD	Point-in-time
Website and development costs	`IntangibleAssetsNetExcludingGoodwill`	$439.40K	USD	Point-in-time
Website and development costs	`IntangibleAssetsNetExcludingGoodwill`	$452.24K	USD	Point-in-time
Total assets	`Assets`	$1.07M	USD	Point-in-time
Total assets	`Assets`	$1.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$224.44K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$571.40K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$477.23K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$477.23K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$8.49K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$47.20K	USD	Point-in-time
Note payable	`NotesPayableCurrent`	-	USD	Point-in-time
Note payable	`NotesPayableCurrent`	$25.37K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$710.16K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.12M	USD	Point-in-time
Note payable, net of current portion	`LongTermNotesPayable`	-	USD	Point-in-time
Note payable, net of current portion	`LongTermNotesPayable`	$140.35K	USD	Point-in-time
Total liabilities	`Liabilities`	$710.16K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.26M	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 105,389,180 and 98,898,130 shares issued and outstanding	`CommonStockValue`	$98.90K	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 105,389,180 and 98,898,130 shares issued and outstanding	`CommonStockValue`	$105.39K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$22.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$19.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.58M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-22.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$512.48K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$381.90K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$397.76K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$363.14K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$91.49K	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.07M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.64M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	$169.91K	USD	2 Qtrs
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	$166.64K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$342.08K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$904.44K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$257.18K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$681.66K	USD	2 Qtrs
Professional fees - related party	`ProfessionalFeesRelatedParty`	$141.00K	USD	2 Qtrs
Professional fees - related party	`ProfessionalFeesRelatedParty`	$247.00K	USD	1 Quarter
Professional fees - related party	`ProfessionalFeesRelatedParty`	$411.04K	USD	2 Qtrs
Professional fees - related party	`ProfessionalFeesRelatedParty`	$103.50K	USD	1 Quarter
Management fees - related party	`ManagementFeeRelatedParty`	$120.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeRelatedParty`	$360.00K	USD	2 Qtrs
Management fees - related party	`ManagementFeeRelatedParty`	$240.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeRelatedParty`	$240.00K	USD	2 Qtrs
Personnel related expenses	`LaborAndRelatedExpense`	$608.34K	USD	1 Quarter
Personnel related expenses	`LaborAndRelatedExpense`	$1.28M	USD	2 Qtrs
Personnel related expenses	`LaborAndRelatedExpense`	$1.57M	USD	2 Qtrs
Personnel related expenses	`LaborAndRelatedExpense`	$682.36K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$314.42K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$424.82K	USD	2 Qtrs
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$141.83K	USD	2 Qtrs
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$57.00K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.83M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$3.00M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$3.16M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.15M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.99M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.66M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.00M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.15M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.00M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.99M	USD	2 Qtrs
Less preferred stock dividends	`DividendsPreferredStock`	$106.66K	USD	2 Qtrs
Less preferred stock dividends	`DividendsPreferredStock`	-	USD	2 Qtrs
Less preferred stock dividends	`DividendsPreferredStock`	-	USD	1 Quarter
Less preferred stock dividends	`DividendsPreferredStock`	$59.69K	USD	1 Quarter
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.15M	USD	1 Quarter
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.10M	USD	2 Qtrs
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.00M	USD	2 Qtrs
Net loss to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.72M	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	2 Qtrs
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Net loss per common share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	102.08M	shares	1 Quarter
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	86.21M	shares	2 Qtrs
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101.18M	shares	2 Qtrs
Weighted average number of common shares outstanding during the periods - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	87.75M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.15M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.00M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.99M	USD	2 Qtrs
Depreciation	`Depreciation`	$2.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.84K	USD	2 Qtrs
Common stock issued as compensation for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$1.51M	USD	2 Qtrs
Common stock issued as compensation for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$678.38K	USD	2 Qtrs
Gain from forgiveness of note payable	`GainFromForgivenessOfNotePayable1`	$165.72K	USD	2 Qtrs
Gain from forgiveness of note payable	`GainFromForgivenessOfNotePayable1`	-	USD	2 Qtrs
Prepaid expenses- related party	`IncreaseDecreaseInPrepaidExpense`	$45.43K	USD	2 Qtrs
Prepaid expenses- related party	`IncreaseDecreaseInPrepaidExpense`	$-15.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-8.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$157.72K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-346.97K	USD	2 Qtrs
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-241.87K	USD	2 Qtrs
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	2 Qtrs
Amortization of right-of-use operating lease asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$34.30K	USD	2 Qtrs
Amortization of right-of-use operating lease asset	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$36.75K	USD	2 Qtrs
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-33.93K	USD	2 Qtrs
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-38.71K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.61M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.80M	USD	2 Qtrs
Purchase of furniture and equipment	`PurchaseOfFurnitureAndEquipment`	-	USD	2 Qtrs
Purchase of furniture and equipment	`PurchaseOfFurnitureAndEquipment`	$-12.43K	USD	2 Qtrs
Website development costs	`PaymentsToAcquireSoftware`	$14.60K	USD	2 Qtrs
Website development costs	`PaymentsToAcquireSoftware`	$12.84K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.03K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.84K	USD	2 Qtrs
Proceeds from the sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$1.10M	USD	2 Qtrs
Proceeds from the sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$949.38K	USD	2 Qtrs
Proceeds from the sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$500.00K	USD	2 Qtrs
Proceeds from the sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.34M	USD	2 Qtrs
Proceeds from note payable	`ProceedsFromLongTermDebt`	-	USD	2 Qtrs
Proceeds from note payable	`ProceedsFromLongTermDebt`	$165.72K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.29M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.76M	USD	2 Qtrs
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$126.21K	USD	2 Qtrs
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-520.41K	USD	2 Qtrs
Cash at beginning of period	`Cash`	$125.35K	USD	Point-in-time
Cash at beginning of period	`Cash`	$572.43K	USD	Point-in-time
Cash at beginning of period	`Cash`	$446.22K	USD	Point-in-time
Cash at beginning of period	`Cash`	$645.76K	USD	Point-in-time
Cash at end of period	`Cash`	$125.35K	USD	Point-in-time
Cash at end of period	`Cash`	$572.43K	USD	Point-in-time
Cash at end of period	`Cash`	$446.22K	USD	Point-in-time
Cash at end of period	`Cash`	$645.76K	USD	Point-in-time
Decrease in note payable resulting from gain on forgiveness of note payable	`GainFromForgivenessOfNotePayable`	$-165.72K	USD	2 Qtrs
Decrease in note payable resulting from gain on forgiveness of note payable	`GainFromForgivenessOfNotePayable`	-	USD	2 Qtrs

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$1.02M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$512.48K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$381.90K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$397.76K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$363.14K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$91.49K	USD	Point-in-time
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (unaudited)	`StockIssuedDuringPeriodValueOther`	$501.75K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (unaudited)	`StockIssuedDuringPeriodValueOther`	$597.00K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (unaudited)	`StockIssuedDuringPeriodValueOther`	$621.88K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (unaudited)	`StockIssuedDuringPeriodValueOther`	$327.50K	USD	1 Quarter
Proceeds received from sale of Preferred Stock (unaudited)	`ProceedsReceivedFromSaleOfPreferredStockValue`	$1.34M	USD	1 Quarter
Proceeds received from sale of Preferred Stock (unaudited)	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$500.00K	USD	1 Quarter
Common stock issued for services (unaudited)	`StockIssuedDuringPeriodValueIssuedForServices`	$678.38K	USD	1 Quarter
Common stock issued for services (unaudited)	`StockIssuedDuringPeriodValueIssuedForServices`	$1.04M	USD	1 Quarter
Common stock issued for services (unaudited)	`StockIssuedDuringPeriodValueIssuedForServices`	$470.00K	USD	1 Quarter
Net loss (unaudited)	`ProfitLoss`	$-1.66M	USD	1 Quarter
Net loss (unaudited)	`ProfitLoss`	$-1.15M	USD	1 Quarter
Net loss (unaudited)	`ProfitLoss`	$-1.33M	USD	1 Quarter
Net loss (unaudited)	`ProfitLoss`	$-1.85M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$1.02M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$512.48K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$381.90K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$397.76K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$363.14K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$91.49K	USD	Point-in-time

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