MediXall Group, Inc.

2023 Q3 Form 10-Q Financial Statement

#000107997324000912 Filed on June 20, 2024

View on sec.gov

Income Statement

Concept 2023 Q3 2022 Q3

Balance Sheet

Concept 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.670K $75.58K
YoY Change -87.21% -78.38%
Cash & Equivalents $9.667K $75.58K
Short-Term Investments
Other Short-Term Assets $3.484K $20.52K
YoY Change -83.02% -93.36%
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $13.15K $96.10K
YoY Change -86.32% -85.41%
LONG-TERM ASSETS
Property, Plant & Equipment $14.68K $21.76K
YoY Change -32.5% -93.86%
Goodwill
YoY Change
Intangibles $291.2K $432.0K
YoY Change -32.6%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $442.4K $924.6K
YoY Change -52.16% 14.52%
TOTAL ASSETS
Total Short-Term Assets $13.15K $96.10K
Total Long-Term Assets $442.4K $924.6K
Total Assets $455.5K $1.021M
YoY Change -55.38% -30.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.056M $1.655M
YoY Change 24.23% 59.53%
Accrued Expenses $0.00 $20.33K
YoY Change -100.0% -93.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.648M $2.017M
YoY Change 80.9%
Total Short-Term Liabilities $5.704M $3.692M
YoY Change 54.5% 169.36%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $244.8K
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $244.8K
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.704M $3.692M
Total Long-Term Liabilities $0.00 $244.8K
Total Liabilities $5.704M $3.937M
YoY Change 44.89% 187.22%
SHAREHOLDERS EQUITY
Retained Earnings -$35.72M -$30.83M
YoY Change 15.87%
Common Stock $130.5K $116.9K
YoY Change 11.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$5.249M -$2.916M
YoY Change
Total Liabilities & Shareholders Equity $455.5K $1.021M
YoY Change -55.38% -30.38%

Cashflow Statement

Concept 2023 Q3 2022 Q3

Facts In Submission

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us-gaap Use Of Estimates
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<p id="xdx_84E_eus-gaap--UseOfEstimates_zDOzn1JofTYi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><i><span id="xdx_860_zLLrSb7A2tT2">Use of Estimates</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0; text-align: justify; text-indent: 0.5in">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0; text-align: justify; text-indent: 0.5in">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements, which management considered in formulating its estimate could change in the near term due to one or more future non-conforming events. Accordingly, the actual results could differ significantly from estimates.</p> <p style="font: 9.5pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0; text-align: justify; text-indent: 0.5in">A material estimate that is particularly susceptible to significant change in the near-term relate to the determination of the impairment of website and development cost and intellectual property. The Company uses various assumptions it believes to be reasonable under the circumstances to make this estimate. Although considerable variability is likely to be inherent in this estimate, management believes that the amount provided is reasonable. This estimate is continually reviewed and adjusted if necessary. Such adjustments are reflected in current operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0; text-align: justify; text-indent: 0.5in"> </p>
CY2023Q3 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
78996 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zhRQYsQdzPC" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt"><i><span id="xdx_86B_zvuVRVB7CFJ6">Risks and Uncertainties</span> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0; text-align: justify; text-indent: 0.5in">The Company's operations are subject to significant risks and uncertainties including financial, operational, and regulatory risks, including the potential risk of business failure.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0; text-align: justify; text-indent: 0.5in"> </p>
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-908067 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1083878 usd
us-gaap Net Income Loss
NetIncomeLoss
-3108940 usd
us-gaap Net Income Loss
NetIncomeLoss
-5047974 usd
CY2022Q3 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
78995 usd
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
234410 usd
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
234410 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-987063 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1162873 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3343350 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5282384 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130487491 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130487491 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116886659 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116886659 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126048154 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126048154 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115896191 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115896191 shares
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
156000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-19500 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
136500 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6500 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
26000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
26000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
26000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
26000 usd
CY2023Q3 mdxl Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
26000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
136500 usd
mdxl Securities Purchase Agreement Description
SecuritiesPurchaseAgreementDescription
In March 2022, the Company entered into a securities purchase agreement in which the Company maximum offering amount is $5,000,000. For every $1,000 invested in the offering, the Investors will receive a Debenture with a face amount of $1,000 and Warrants to purchase 350 Common Shares at an exercise price that ranges from $0.75 to $1.50 per share expiring on April 30, 2027.
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1274687 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
123653 usd
CY2023Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
64172 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
183377 usd
CY2022Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
2555793 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1032498 usd
mdxl Relative Fair Value Of Warrants Issued As Discount
RelativeFairValueOfWarrantsIssuedAsDiscount
-123653 usd
mdxl Accretion Of Warrants Issued As Discount
AccretionOfWarrantsIssuedAsDiscount
183377 usd
CY2023Q3 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
3648015 usd
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001079973-24-000912-index-headers.html Edgar Link pending
0001079973-24-000912-index.html Edgar Link pending
0001079973-24-000912.txt Edgar Link pending
0001079973-24-000912-xbrl.zip Edgar Link pending
ex31x1.htm Edgar Link pending
ex31x2.htm Edgar Link pending
ex32x1.htm Edgar Link pending
ex32x2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
mdxl-20230930.xsd Edgar Link pending
mdxl_10q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
mdxl-20230930_cal.xml Edgar Link unprocessable
mdxl-20230930_def.xml Edgar Link unprocessable
mdxl_10q_htm.xml Edgar Link completed
mdxl-20230930_pre.xml Edgar Link unprocessable
mdxl-20230930_lab.xml Edgar Link unprocessable