$MDNC

Medinotec Inc.

CIK:0001931055|SEC Filings

Consolidated Statements of Operations and Comprehensive Income/(Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2026	Aug. 31, 2025	Aug. 31, 2026	Aug. 31, 2025
Income Statement [Abstract]
Revenue	$ 3,200,603	$ 3,236,305	$ 5,851,698	$ 5,370,331
Cost of goods sold	(1,640,706)	(1,253,007)	(2,984,136)	(2,473,865)
Gross profit	1,559,897	1,983,298	2,867,562	2,896,466
Operating expenses
Depreciation and amortization expense	(21,824)	(7,497)	(43,106)	(15,003)
General and administrative expenses	(835,893)	(706,597)	(1,430,179)	(1,264,015)
Research and development expenses	(22,076)	(66,235)	(30,046)	(115,249)
Sales and marketing expenses	(477,381)	(674,404)	(980,636)	(696,177)
Total operating expenses	(1,357,174)	(1,454,733)	(2,483,967)	(2,090,444)
Income (loss) from operations	202,723	528,565	383,595	806,022
Non operating income and expenses
Interest income	16,355	36,259	32,412	37,078
Other revenue/(expense)	(30,215)	12,272	(11,777)	28,693
Interest expense	(8,620)	(40,274)	(15,488)	(72,199)
Total non-operating income and expenses	(22,480)	8,257	5,147	(6,428)
Income/(loss) before income taxes	180,243	536,822	388,742	799,594
Income taxes
Current income taxes	(127,942)	(193,942)	(127,942)	(456,788)
Deferred income taxes	(11,435)	3,686	2,080	117,544
Net income/(loss)	40,866	346,566	262,880	460,350
Other comprehensive income (loss) from operations	40,778	12,972	(40,031)	(2,819)
Total comprehensive income (loss)	$ 81,644	$ 359,538	$ 222,849	$ 457,531
Earnings Per Share:
Basic	$ 0.00	$ 0.03	$ 0.02	$ 0.04
Diluted	$ 0.00	$ 0.03	$ 0.02	$ 0.04
Weighted-average shares outstanding:
Basic	11,755,548	11,752,231	11,755,548	11,742,990
Diluted	11,755,548	11,752,231	11,755,548	11,742,990

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Aug. 31, 2026	Aug. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 262,880	$ 460,350
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:
Depreciation	43,106	15,003
Foreign currency transaction gain/(loss), unrealized	15,803	(15,906)
Deferred income taxes and tax credits	(2,080)	(117,544)
Provision for income taxes	127,942	456,788
Provision for doubtful receivables	22,338	79,758
Common stock issued for services		108,990
Operating lease liability	(16,573)	(14,072)
(Increase)/Decrease in prepayments	(5,142)	(104,528)
(Increase)/Decrease in receivables	(362,033)	(273,143)
(Increase)/Decrease in inventories	84,599	(29,799)
Increase/(Decrease) in accounts payable and accrued liabilities	(112,183)	(101,597)
Net cash flow from operations	58,657	464,300
Tax paid	(127,256)
TOTAL CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES	(68,599)	464,300
CASH FLOWS USED IN INVESTING ACTIVITIES:
Payments to acquire property, plant, and equipment	(86,985)
TOTAL CASH FLOWS USED IN INVESTING ACTIVITIES	(86,985)
CASH FLOWS FROM/(USED BY) FINANCING ACTIVITIES:
Repayment of debt		(980,467)
TOTAL CASH FLOWS FROM/(USED BY) FINANCING ACTIVITIES		(980,467)
Supplemental disclosure of non-cash investing and financing activities:
Effect of exchange rate on cash and cash equivalents	(17,334)	(5,424)
Net decrease in cash and cash equivalents	(172,918)	(521,591)
Cash and cash equivalents at beginning of the period	2,757,024	2,769,686
Cash and cash equivalents at end of period	2,584,106	2,248,095
Supplemental disclosure of cash flow information:
Right-of-use assets obtained in exchange for operating lease liabilities	93,383
Income taxes	127,256	46,288
Interest	$ 32,412	$ 37,078

Consolidated Balance Sheets (Unaudited) - USD ($)	Aug. 31, 2026	Feb. 28, 2026
Current Assets
Cash	$ 2,584,106	$ 2,757,024
Accounts receivable, net of allowances	2,618,622	2,352,474
Inventory	1,153,731	1,236,373
Other current assets	80,180	73,934
Total Current Assets	6,436,639	6,419,805
Property, plant and equipment, net of accumulated depreciation	374,808	331,346
Deferred tax asset	50,571	48,857
Operating right-of-use asset	90,789	12,880
Total Assets	6,952,807	6,812,888
Current Liabilities
Accounts payable and accrued liabilities	927,101	1,086,287
Operating lease liability, current portion	28,180	14,905
Total Current Liabilities	955,281	1,101,192
Long Term Liabilities
Loans payable	497	501
Operating lease liability, net of current portion	62,985
Total Liabilities	1,018,763	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	1,975,497	1,712,617
Accumulated other comprehensive income	541,432	581,463
Total Equity	5,934,044	5,711,195
Total Liabilities and Stockholders’ Equity	$ 6,952,807	$ 6,812,888