10-Q Filing

MEDIXALL GROUP, INC. CIK: 1601280 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001553350-22-000715`
Period End Date	20220630
Filing Date	20220823
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	mdxl_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 66 Cash Flow Statement 58 Stockholders Equity 29

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Net of discount	`ConvertibleDebtNetOfDiscount`	$77.02K	USD	Point-in-time
Cash	`Cash`	$63.42K	USD	Point-in-time
Cash	`Cash`	$173.84K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseCurrent`	$276.04K	USD	Point-in-time
Prepaid expenses - related party	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$3.48K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$17.08K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$342.94K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$190.93K	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$23.38K	USD	Point-in-time
Furniture and equipment, net	`PropertyPlantAndEquipmentNet`	$21.38K	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
Rights-to-use intellectual property	`OtherIntangibleAssetsNet`	$219.14K	USD	Point-in-time
Rights-to-use intellectual property	`OtherIntangibleAssetsNet`	-	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	117.24M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	110.86M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	117.24M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	110.86M	shares	Point-in-time
Right-of-use-operating lease asset	`OperatingLeaseRightOfUseAsset`	$278.07K	USD	Point-in-time
Right-of-use-operating lease asset	`OperatingLeaseRightOfUseAsset`	$313.86K	USD	Point-in-time
Website and development costs	`IntangibleAssetsNetExcludingGoodwill`	$451.40K	USD	Point-in-time
Website and development costs	`IntangibleAssetsNetExcludingGoodwill`	$451.40K	USD	Point-in-time
Total assets	`Assets`	$1.13M	USD	Point-in-time
Total assets	`Assets`	$1.16M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$588.87K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$646.68K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$567.20K	USD	Point-in-time
Accounts payable and accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$657.24K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$69.26K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$40.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.34M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$246.37K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$241.52K	USD	Point-in-time
Senior Convertible Debentures, net of discount of 77,021	`ConvertibleDebtCurrent`	$1.34M	USD	Point-in-time
Senior Convertible Debentures, net of discount of 77,021	`ConvertibleDebtCurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$1.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.93M	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 117,235,039 and 110,864,595 shares issued and outstanding	`CommonStockValue`	$110.86K	USD	Point-in-time
Common Stock, $0.001 par value 750,000,000 shares authorized; 117,235,039 and 110,864,595 shares issued and outstanding	`CommonStockValue`	$117.23K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$25.33M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-29.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.78M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.76M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$381.90K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$1.02M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-340.12K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-675.50K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$363.14K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.13M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$1.16M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$169.91K	USD	2 Qtrs
Revenue	`Revenues`	$18.26K	USD	2 Qtrs
Revenue	`Revenues`	$166.64K	USD	1 Quarter
Revenue	`Revenues`	$10.35K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$267.96K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$596.61K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$342.08K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$681.66K	USD	2 Qtrs
Professional fees - related party	`ProfessionalFeesRelatedParty`	$57.50K	USD	1 Quarter
Professional fees - related party	`ProfessionalFeesRelatedParty`	$177.50K	USD	2 Qtrs
Professional fees - related party	`ProfessionalFeesRelatedParty`	$247.00K	USD	1 Quarter
Professional fees - related party	`ProfessionalFeesRelatedParty`	$411.04K	USD	2 Qtrs
Management fees - related party	`ManagementFeeRelatedParty`	$240.00K	USD	1 Quarter
Management fees - related party	`ManagementFeeRelatedParty`	$360.00K	USD	2 Qtrs
Management fees - related party	`ManagementFeeRelatedParty`	$480.00K	USD	2 Qtrs
Management fees - related party	`ManagementFeeRelatedParty`	$240.00K	USD	1 Quarter
Personnel related expenses	`LaborAndRelatedExpense`	$2.31M	USD	2 Qtrs
Personnel related expenses	`LaborAndRelatedExpense`	$1.28M	USD	2 Qtrs
Personnel related expenses	`LaborAndRelatedExpense`	$783.96K	USD	1 Quarter
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`	$214.93K	USD	1 Quarter
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$424.82K	USD	2 Qtrs
Other selling, general and administrative	`OtherSellingGeneralAndAdministrativeExpense`	$414.33K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$3.98M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.56M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$3.16M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.83M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.99M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.96M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.55M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.66M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.99M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.96M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Less preferred stock dividends	`DividendsPreferredStock`	$73.65K	USD	1 Quarter
Less preferred stock dividends	`DividendsPreferredStock`	$59.69K	USD	1 Quarter
Less preferred stock dividends	`DividendsPreferredStock`	$146.49K	USD	2 Qtrs
Less preferred stock dividends	`DividendsPreferredStock`	$106.66K	USD	2 Qtrs
Net loss to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.11M	USD	2 Qtrs
Net loss to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.63M	USD	1 Quarter
Net loss to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.72M	USD	1 Quarter
Net loss to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.10M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.04	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.03	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.04	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.03	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	101.18M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	116.15M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	102.08M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	115.39M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	102.08M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.39M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	116.15M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	101.18M	shares	2 Qtrs

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.41M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.55M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.99M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-3.96M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Depreciation	`Depreciation`	$3.68K	USD	2 Qtrs
Depreciation	`Depreciation`	$2.84K	USD	2 Qtrs
Common stock issued as compensation for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$1.46M	USD	2 Qtrs
Common stock issued as compensation for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$678.38K	USD	2 Qtrs
Amortization of debenture discounts	`AmortizationOfDebentureDiscounts`	-	USD	2 Qtrs
Amortization of debenture discounts	`AmortizationOfDebentureDiscounts`	$-5.92K	USD	2 Qtrs
Gain from forgiveness of note payable	`GainFromForgivenessOfNotePayable`	-	USD	2 Qtrs
Gain from forgiveness of note payable	`GainFromForgivenessOfNotePayable`	$165.72K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$13.60K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-8.00K	USD	2 Qtrs
Prepaid expenses- related party	`IncreaseDecreaseInPrepaidExpensesRelatedParty`	$276.04K	USD	2 Qtrs
Prepaid expenses- related party	`IncreaseDecreaseInPrepaidExpensesRelatedParty`	$15.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$57.81K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-346.97K	USD	2 Qtrs
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$90.03K	USD	2 Qtrs
Accounts payable and accrued expenses - related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	2 Qtrs
Amortization of right-of-use operating lease asset	`AmortizationOfRightofuseOperatingLeaseAsset`	$36.75K	USD	2 Qtrs
Amortization of right-of-use operating lease asset	`AmortizationOfRightofuseOperatingLeaseAsset`	$35.79K	USD	2 Qtrs
Amortization of right-to-use intellectual property	`AmortizationOfRighttouseIntellectualProperty`	$16.86K	USD	2 Qtrs
Amortization of right-to-use intellectual property	`AmortizationOfRighttouseIntellectualProperty`	-	USD	2 Qtrs
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-33.66K	USD	2 Qtrs
Operating lease liability	`IncreaseDecreaseInOperatingLiabilities`	$-38.71K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.06M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.80M	USD	2 Qtrs
Website development costs	`WebsiteAndDevelopmentCosts`	$1.68K	USD	2 Qtrs
Website development costs	`WebsiteAndDevelopmentCosts`	$12.84K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.68K	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`	$949.38K	USD	2 Qtrs
Proceeds from the sale of common stock, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$760.50K	USD	2 Qtrs
Proceeds from the sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$1.34M	USD	2 Qtrs
Proceeds from the sale of preferred stock	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	2 Qtrs
Proceeds from issuance of convertible debentures	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Proceeds from issuance of convertible debentures	`ProceedsFromConvertibleDebt`	$1.42M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.29M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.18M	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$110.43K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-520.41K	USD	2 Qtrs
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.35K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$645.76K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$173.84K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$63.42K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.35K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$645.76K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$173.84K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$63.42K	USD	Point-in-time
Issuance of Common Stock in exchange for the Right-of-Use Intellectual Property	`IssuanceOfCommonStockInExchangeForRighttouseIntellectualProperty`	-	USD	2 Qtrs
Issuance of Common Stock in exchange for the Right-of-Use Intellectual Property	`IssuanceOfCommonStockInExchangeForRighttouseIntellectualProperty`	$236.00K	USD	2 Qtrs
Discount issued with Convertible Debentures	`DiscountIssuedWithConvertibleDebentures`	$82.95K	USD	2 Qtrs
Discount issued with Convertible Debentures	`DiscountIssuedWithConvertibleDebentures`	-	USD	2 Qtrs
Decrease in note payable resulting from gain on forgiveness of note payable	`DecreaseInNotePayableResultingFromGainOnForgivenessOfNotePayable`	$-165.72K	USD	2 Qtrs
Decrease in note payable resulting from gain on forgiveness of note payable	`DecreaseInNotePayableResultingFromGainOnForgivenessOfNotePayable`	-	USD	2 Qtrs

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$-1.76M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$381.90K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$1.02M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-340.12K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$-675.50K	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$363.14K	USD	Point-in-time
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (Unaudited)	`StockIssuedDuringPeriodValueOther`	$720.00K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (Unaudited)	`StockIssuedDuringPeriodValueOther`	$327.50K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (Unaudited)	`StockIssuedDuringPeriodValueOther`	$40.50K	USD	1 Quarter
Proceeds received pursuant to Private Placement Memorandum, net of $0 offering costs (Unaudited)	`StockIssuedDuringPeriodValueOther`	$621.88K	USD	1 Quarter
Common stock issued for services (Unaudited)	`StockIssuedDuringPeriodValueIssuedForServices`	$365.40K	USD	1 Quarter
Common stock issued for services (Unaudited)	`StockIssuedDuringPeriodValueIssuedForServices`	$1.09M	USD	1 Quarter
Common stock issued for services (Unaudited)	`StockIssuedDuringPeriodValueIssuedForServices`	$678.38K	USD	1 Quarter
Common stock issued in exchange for right-to-use intellectual property (Unaudited)	`CommonStockIssuedInExchangeForRighttouseIntellectualProperty`	$236.00K	USD	1 Quarter
Fair Value of warrants Issued with Convertible Debentures (Unaudited)	`FairValueOfWarrantsIssuedWithConvertibleDebentures`	$23.80K	USD	1 Quarter
Fair Value of warrants Issued with Convertible Debentures (Unaudited)	`FairValueOfWarrantsIssuedWithConvertibleDebentures`	$59.15K	USD	1 Quarter
Proceeds received from sale of Preferred Stock (Unaudited)	`ProceedsReceivedFromSaleOfPreferredStock`	$1.34M	USD	1 Quarter
Net loss (Unaudited)	`NetIncomeLoss`	$-2.41M	USD	1 Quarter
Net loss (Unaudited)	`NetIncomeLoss`	$-1.66M	USD	1 Quarter
Net loss (Unaudited)	`NetIncomeLoss`	$-1.55M	USD	1 Quarter
Net loss (Unaudited)	`NetIncomeLoss`	$-2.99M	USD	2 Qtrs
Net loss (Unaudited)	`NetIncomeLoss`	$-3.96M	USD	2 Qtrs
Net loss (Unaudited)	`NetIncomeLoss`	$-1.33M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$-1.76M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$381.90K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$1.02M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-340.12K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$-675.50K	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$363.14K	USD	Point-in-time

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