Medinotec Inc. Files Q2 2024 10-Q Report

TL;DR

Medinotec Inc. 10-Q filed for Aug 31, 2024. Q2 update.

AI Summary

Medinotec Inc. filed its 10-Q for the period ending August 31, 2024. The company, incorporated in Nevada and operating in the surgical and medical instruments sector, is based in Dubai. This filing covers the second quarter of their fiscal year, which ends on February 28th.

Why It Matters

This filing provides investors with an update on Medinotec Inc.'s financial performance and operational status for the second quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant disclosures.

Key Players & Entities

• Medinotec Inc. (company) — Filer of the 10-Q
• August 31, 2024 (date) — End of the reporting period
• February 28 (date) — Fiscal year end
• 3841 (other) — Standard Industrial Classification for Surgical & Medical Instruments & Apparatus
• NV (other) — State of Incorporation

FAQ

Key Financial Figures

• $3 million — lity of a private placement of at least $3 million. This acquisition formed the "Medinotec
• $1.235 billion — : its total annual gross revenues are $1.235 billion or more; it has issued more than $1 b
• $1 billion — lion or more; it has issued more than $1 billion in non-convertible debt in the past thr

Filing Documents

• mdnc10q_083124.htm (10-Q) — 872KB
• ex31_1.htm (EX-31) — 9KB
• ex31_2.htm (EX-31.2) — 9KB
• ex32_1.htm (EX-32.1) — 5KB
• image_001.jpg (GRAPHIC) — 4KB
• 0001663577-24-000263.txt ( ) — 4621KB
• mdnc-20240831.xsd (EX-101.SCH) — 31KB
• mdnc-20240831_cal.xml (EX-101.CAL) — 47KB
• mdnc-20240831_def.xml (EX-101.DEF) — 89KB
• mdnc-20240831_lab.xml (EX-101.LAB) — 208KB
• mdnc-20240831_pre.xml (EX-101.PRE) — 196KB
• mdnc10q_083124_htm.xml (XML) — 835KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1: Consolidated Financial Statements (unaudited for period ended August 31, 2024) 3 Item 2:

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4:

Controls and Procedures

Controls and Procedures 15

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1:

Legal Proceedings

Legal Proceedings 16 Item 1A:

Risk Factors

Risk Factors 16 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3: Defaults Upon Senior Securities 16 Item 4: Mine Safety Disclosure 16 Item 5: Other Information 16 Item 6: Exhibits 17 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements Our unaudited consolidated financial statements included in this Form 10-Q are as follows: Page Number 2 Unaudited Consolidated Balance Sheets as of August 31, 2024 and February 29, 2024; 3 Unaudited Consolidated Statements of Operations and Comprehensive Income/(Loss) for the three and six months ended August 31, 2024 and August 31, 2023; 4 Unaudited Consolidated Statements of Stockholders' Equity / (Deficit) for the three and six months ended August 31, 2024 and August 31, 2023; 5 Unaudited Consolidated Statements of Cash Flows for the six months ended August 31, 2024 and August 31, 2023; and 6 Notes to the Unaudited Consolidated Financial Statements. 3 Table of Contents Medinotec Inc. Consolidated Financial Statements Consolidated Balance Sheets (Unaudited) August 31, 2024 $ February 29, 2024 $ Assets Current Assets Cash 2,758,325 2,808,910 Accounts receivable, net of allowances 771,368 589,761 Inventory 1,271,843 863,452 Other current assets 100,539 117,174 Total Current Assets 4,902,075 4,379,297 Loans and notes receivable — — Property, plant and equipment, net of accumulated depreciation 327,064 320,122 Deferred tax asset 13,777 42,881 Operating right-of-use asset 52,918 61,979 Total Assets 5,295,834 4,804,279 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued liabilities 1,536,781 801,550 Due to stockholders/directors 1,588 1,587 Operating lease liability, current portion 27,753 24,316 Total Current Liabilities 1,566,122 827,453 Long Term Liabilities Related party loans payable 1,171,533 1,769,957 Operating lease liability, net of current portion 28,454 39,698 Total Liabilities 2,766,109 2,637,108 Stockholders' Equity Capital stock $ .001 par value; shares authorized 200,000,000 ; 11,733,750 shares issued and outstanding 11,734 11,734 Capital stock additiona

View Full Filing

View this 10-Q filing on SEC EDGAR