$MDNC

Medinotec Inc.

CIK:0001931055|SEC Filings

Consolidated Statements of Operations and Comprehensive Income/(Loss) (Unaudited) - USD ($)	3 Months Ended
	May 31, 2026	May 31, 2025
Income Statement [Abstract]
Revenue	$ 2,651,095	$ 2,134,026
Cost of goods sold	(1,343,430)	(1,220,858)
Gross profit	1,307,665	913,168
Operating expenses
Selling expenses	(503,255)	(21,773)
Depreciation and amortization expense	(21,282)	(7,506)
General and administrative expense	(594,286)	(557,418)
Research and development expenses	(7,970)	(49,014)
Total operating expenses	(1,126,793)	(635,711)
Income from operations	180,872	277,457
Non-operating income and expenses
Interest income	16,057	819
Interest expense	(6,868)	(31,925)
Other revenue	18,438	16,421
Total non-operating income and expenses	27,627	(14,685)
Income/(loss) before income taxes	208,499	262,772
Income taxes
Current income taxes		(262,846)
Deferred income taxes	13,515	113,858
Net income	$ 222,014	$ 113,784
Net income per share, basic and diluted	$ 0.02	$ 0.01
Weighted average shares used in computing net income per share, basic and diluted	11,755,548	11,733,750
Other comprehensive income/(loss)
Foreign currency translation gain/(loss)	$ (80,809)	$ (15,791)
Total comprehensive income/(loss)	$ 141,205	$ 97,993

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	May 31, 2026	May 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 222,014	$ 113,784
Depreciation	21,282	7,506
Foreign currency translation gain/(loss), unrealized	7,513	(17,298)
Deferred income taxes and tax credits	(13,515)	(113,858)
Provision for income taxes		262,846
Provision for doubtful debt – trade receivables	(76,221)	24,734
Operating lease liability	(8,492)	(6,857)
(Increase)/Decrease in prepayments	(41,268)	(147,160)
(Increase)/Decrease in receivables	(172,688)	(1,589,455)
(Increase)/Decrease in inventories	(203,452)	7,496
Increase/(Decrease) in accounts payable and accrued expenses	88,702	699,024
Net cashflow used in operations	(176,125)	(759,238)
TOTAL CASH FLOWS USED IN OPERATING ACTIVITIES	(176,125)	(759,238)
CASH FLOWS USED IN INVESTING ACTIVITIES:
Payments to acquire property, plant, and equipment	(40,350)
TOTAL CASH FLOWS USED IN INVESTING ACTIVITIES	(40,350)
CASH FLOWS USED BY FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt
Repayment of debt		(37,900)
TOTAL CASH FLOWS USED BY FINANCING ACTIVITIES		(37,900)
OTHER ACTIVITIES:
Effect of exchange rate on cash and cash equivalents	(22,234)	(21,672)
Net decrease in cash and cash equivalents	(238,709)	(818,809)
Cash and cash equivalents at beginning of the period	2,757,024	2,769,685
Cash and cash equivalents at end of period	2,518,315	1,950,876
Supplemental disclosures:
Interest income	16,057	819
Interest expense	$ 6,868	$ 31,925

Consolidated Balance Sheets (Unaudited) - USD ($)	May 31, 2026	Feb. 28, 2026
Current Assets
Cash	$ 2,518,315	$ 2,757,024
Accounts receivable, net of allowances	2,513,601	2,352,474
Inventory	1,425,422	1,236,373
Other current assets	115,991	73,934
Total Current Assets	6,573,329	6,419,805
Property, plant and equipment, net of accumulated depreciation	345,011	331,346
Deferred tax asset	61,688	48,857
Operating right-of-use asset	5,050	12,880
Total Assets	6,985,078	6,812,888
Current Liabilities
Accounts payable and accrued liabilities	1,126,255	1,086,287
Operating lease liability, current portion	5,929	14,905
Total Current Liabilities	1,132,184	1,101,192
Long Term Liabilities
Loans payable	494	501
Total Liabilities	1,132,678	1,101,693
Stockholders’ Equity
Capital stock $.001 par value; shares authorized 200,000,000; 11,755,548 shares issued and outstanding	11,756	11,756
Capital stock additional paid in capital	3,405,359	3,405,359
Retained Earnings	1,934,631	1,712,617
Accumulated other comprehensive income	500,654	581,463
Total Equity	5,852,400	5,711,195
Total Liabilities and Stockholders’ Equity	$ 6,985,078	$ 6,812,888