Ownership / PreAxia Health Care Payment Systems Inc. | Tables in SEC filings

PAXH PreAxia Health Care Payment Systems Inc.

Quarterly report


		August 31, 2024		May 31, 2024
ASSETS

Current assets
Cash	$	1	$	14
Total current assets		1		14

Total assets	$	1	$	14

LIABILITIES

Current liabilities
Bank indebtedness	$	567	$	398
Accounts payable and accrued liabilities		169,140		166,909
Accounts payable and accrued liabilities - related party		300,000		300,000
Advances - related party		79,401		77,187
Loans payable - shareholders		191,330		191,330
Liability for unissued shares		134,792		134,792
Promissory note - related party		466,817		466,817
Convertible note payable - related party		1,058,760		1,058,760
Total current liabilities		2,400,807		2,396,193

Total liabilities		2,400,807		2,396,193

Commitments and Contingencies		—		—

STOCKHOLDERS' DEFICIT

Common Stock, $0.001 par value, 75,000,000 shares authorized 19,767,698 shares issued and outstanding		19,768		19,768
Additional paid-in capital		2,655,236		2,655,236
Accumulated other comprehensive income		57,197		57,197
Accumulated deficit		(5,133,007)		(5,128,380)
Total stockholders' deficit		(2,400,806)		(2,396,179)

Total liabilities and stockholders' deficit	$	1	$	14

See Accompanying Notes to the Unaudited Condensed Consolidated Financial Statements


		Three months ended
		August 31, 2024		August 31, 2023

Cash flows from operating activities
Net loss	$	(4,627)	$	(40,919)
Change in operating assets and liabilities
Increase in accounts payable and accrued liabilities - related party		—		30,000
Increase (decrease) in accounts payable and accrued liabilities		2,231		(2,680)
Cash flows used in operating activities		(2,396)		(13,599)

Cash flows from investing activities		—		—

Cash flows from financing activities
Bank indebtedness		169		—
Advances - loans payable - shareholders		—		10,961
Advances - related party		2,214		3,474
Repayment of advances - related party		—		(487)
Net cash provided by financing activities		2,383		13,948

Net change in cash		(13)		349

Cash, beginning of the period		14		6

Cash, end of the period	$	1	$	355

Supplemental Disclosure:
Cash paid for income taxes	$	—	$	—
Cash paid for interest	$	—	$	—

See Accompanying Notes to the Unaudited Condensed Consolidated Financial Statements


		Three months ended
		August 31, 2024		August 31, 2023


Revenue	$	—	$	—

Operating expenses
Consulting		—		30,000
Professional		2,500		7,714
Office and administration		2,127		1,685
Research and development		—		1,520
Total operating expenses		4,627		40,919

Loss from operations		(4,627)		(40,919)

Net loss and comprehensive loss	$	(4,627)	$	(40,919)

Net loss per share - basic and diluted	$	(0.00)	$	(0.00)

Weighted average number of common shares outstanding - basic and diluted		19,767,698		19,767,698

See Accompanying Notes to the Unaudited Condensed Consolidated Financial Statements


PREAXIA HEALTHCARE PAYMENT SYSTEMS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT
(Unaudited)

	Common Stock				Additional Paid-in		Accumulated Other Comprehensive		Accumulated		Total Stockholders'
	Shares		Amount		Capital		Income		Deficit		Deficit
Balance, May 31, 2024	19,767,698	$	19,768	$	2,655,236	$	57,197	$	(5,128,380)	$	(2,396,179)

Net loss and comprehensive loss	—		—		—		—		(4,627)		(4,627)

Balance, August 31, 2024	19,767,698	$	19,768	$	2,655,236	$	57,197	$	(5,133,007)	$	(2,400,806)

	Common Stock				Additional Paid-in		Accumulated Other Comprehensive		Accumulated		Total Stockholders'
	Shares		Amount		Capital		Income		Deficit		Deficit
Balance, May 31, 2023	19,767,698	$	19,768	$	2,655,236	$	57,197	$	(5,028,931)	$	(2,296,730)

Net loss and comprehensive loss	—		—		—		—		(40,919)		(40,919)

Balance, August 31, 2023	19,767,698	$	19,768	$	2,655,236	$	57,197	$	(5,069,850)	$	(2,337,649)

See Accompanying Notes to the Unaudited Condensed Consolidated Financial Statements

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