NVOS Novo Integrated Sciences Inc

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest reported): July 19, 2024

 

Novo Integrated Sciences, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada		001-40089		59-3691650
(State or other jurisdiction		(Commission		(IRS Employer
of Incorporation)		File Number)		Identification Number)

 

11120 NE 2nd Street, Suite 100, Bellevue, WA 98004

(Address of principal executive offices)

 

(206) 617-9797

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.)

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CF$ 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on which Registered
Common Stock		NVOS		Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02. Results of Operations and Financial Condition.

 

On July 19, 2024, Novo Integrated Sciences, Inc. issued a press release announcing its financial results for the quarter ended May 31, 2024. A copy of this press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. The information contained in the website is not a part of this Current Report on Form 8-K.

 

The information furnished pursuant to this Item 2.02, including the information contained in Exhibit 99.1, is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, except to the extent such other filing specifically incorporates such information by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.		Description
99.1		Press release issued by the registrant on July 19, 2024.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	Novo Integrated Sciences, Inc.
Dated: July 19, 2024	By:	/s/ Robert Mattacchione
		Robert Mattacchione
		Chief Executive Officer

 

 

 

Exhibit 99.1

 

 

Novo Integrated Sciences Reports Fiscal Year 2024 Third Quarter Financial Results

 

BELLEVUE, Wash., July 19, 2024 - Novo Integrated Sciences, Inc. (NASDAQ:NVOS) (the “Company” or “Novo”), pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of multiple patient and consumer touchpoints for services and product innovation, today reported its financial results for the third fiscal quarter ended May 31, 2024.

 

Robert Mattacchione, Novo’s CEO and Board Chairman, stated, “The Company’s fiscal year 2024 third quarter emphasized maximizing operational efficiencies for all business units. The Company continues to work with certain prospective financial partners to close previously announced non-traditional financing opportunities to raise foundational capital with repayment terms necessary to support and accelerate the further growth of Novo’s three-pillar business model. The Company remains committed to the commercialization of its proprietary product offerings and the expansion and delivery of its essential services and solutions for how non-catastrophic healthcare is delivered both now and in the future.”

 

Financial Highlights for the three-month period ended May 31, 2024:

 

	●	Cash and cash equivalents were $1,539,771, total assets were $35,327,000, total liabilities were $25,663,779, and total stockholders’ equity was $9,956,134.
	●	Revenues were $3,151,851, representing a decrease of $141,082, or 4%, from $3,292,933 for the three months ended May 31, 2023. The decrease in revenue is principally due to a decrease in product sales. Acenzia’s and Terragenx’s revenue for the three months ended May 31, 2024 were $884,396 and $103,399, respectively. Despite a decrease in total revenue, revenue from our healthcare services increased by 8.1% when comparing the revenue for the three months ended May 31, 2024 to the three months ended May 31, 2023.
	●	Operating costs were $3,417,096, representing an increase of $672,584, or 25%, from $2,744,512 for the three months ended May 31, 2023. The increase in operating costs was primarily due to the inflationary impact on operating costs.
	●	Net loss attributed to the Company was $13,741,903, representing an increase of $12,244,573, or 818%, from $1,497,330 for the three months ended May 31, 2023. The increase in net loss of $12,244,573 is mainly attributed to the recognition of a $6,724,690 loss in the fair value of the derivative liability, loss from operations of $1,089,785, amortization of the debt discount of $ 2,748,793 and foreign currency exchange loss of $1,455,248 arising as a result of intercompany balance reconciliation.
	●	On April 5, 2024, the Company executed a $6.21 million Securities Purchase Agreement and Promissory Note with Streeterville Capital LLC (the “Streeterville Note”). The interest rate on the Streeterville Note is 10.9% and it has a 12-month maturity date. A portion of the proceeds from the Streeterville Note paid the balance owed on two notes, as follows:

 

	○	$3,228,774 (principal) and $30,571.28 (interest) on the 2023 $3.5 million Mast Hill note; and
	○	$82,761 (principal) and $1,552 (interest) on the 2023 $277,777 First Fire note.

 

 

About Novo Integrated Sciences, Inc.

 

Novo Integrated Sciences, Inc. is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of services and product innovation. Novo offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, advanced therapeutics, and rehabilitative science.

 

We believe that “decentralizing” healthcare, through the integration of medical technology and interconnectivity, is an essential solution to the rapidly evolving fundamental transformation of how non-catastrophic healthcare is delivered both now and in the future. Specific to non-critical care, ongoing advancements in both medical technology and inter-connectivity are allowing for a shift of the patient/practitioner relationship to the patient’s home and away from on-site visits to primary medical centers with mass-services. This acceleration of “ease-of-access” in the patient/practitioner interaction for non-critical care diagnosis and subsequent treatment minimizes the degradation of non-critical health conditions to critical conditions as well as allowing for more cost-effective healthcare distribution.

 

The Company’s decentralized healthcare business model is centered on three primary pillars to best support the transformation of non-catastrophic healthcare delivery to patients and consumers:

 

	●	First Pillar: Service Networks. Deliver multidisciplinary primary care services through (i) an affiliate network of clinic facilities, (ii) small and micro footprint sized clinic facilities primarily located within the footprint of box-store commercial enterprises, (iii) clinic facilities operated through a franchise relationship with the Company, and (iv) corporate operated clinic facilities.
	●	Second Pillar: Technology. Develop, deploy, and integrate sophisticated interconnected technology, interfacing the patient to the healthcare practitioner thus expanding the reach and availability of the Company’s services, beyond the traditional clinic location, to geographic areas not readily providing advanced, peripheral based healthcare services, including the patient’s home.
	●	Third Pillar: Products. Develop and distribute effective, personalized health and wellness product solutions allowing for the customization of patient preventative care remedies and ultimately a healthier population. The Company’s science-first approach to product innovation further emphasizes our mandate to create and provide over-the-counter preventative and maintenance care solutions.

 

Innovation through science combined with the integration of sophisticated, secure technology assures Novo Integrated Sciences of continued cutting-edge advancement in patient-first platforms.

 

For more information concerning Novo Integrated Sciences, please visit www.novointegrated.com.

 

Twitter, LinkedIn, Facebook, Instagram, YouTube

 

Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in Novo’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond Novo’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Novo’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Novo assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated by reference herein.

 

Contact

 

Chris David, COO-President

Novo Integrated Sciences, Inc.

chris.david@novointegrated.com

(888) 512-1195

 

 

NOVO INTEGRATED SCIENCES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

As of May 31, 2024 (unaudited) and August 31, 2023

 

		May 31,				August 31,
		2024				2023
ASSETS
Current Assets:
Cash and cash equivalents		$	1,539,771			$	416,323
Accounts receivable, net			2,251,528				1,467,028
Inventory, net			1,112,068				1,106,983
Other receivables, current portion			1,043,473				1,051,584
Prepaid expenses and other current assets			214,436				346,171
Total current assets			6,161,276				4,388,089
Property and equipment, net			5,157,781				5,390,038
Intangible assets, net			14,690,038				16,218,539
Right-of-use assets, net			1,793,907				1,983,898
Goodwill			7,523,998				7,582,483
TOTAL ASSETS		$	35,327,000			$	35,563,047
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable		$	3,894,602			$	3,513,842
Accrued expenses			1,332,485				1,233,549
Accrued interest (including amounts to related parties)			450,795				382,666
Government loans and notes payable, current portion			93,488				277,405
Convertible notes payable, net of discount of $4,985,381			1,224,619				558,668
Derivative liability			14,048,576				–
Contingent liability			45,968				61,767
Debentures, related parties			909,753				916,824
Due to related parties			262,295				533,001
Finance lease liability, net of current portion			4,336				11,744
Operating lease liability, current portion			409,516				415,392
Total current liabilities			22,676,433				7,904,858
Government loans and notes payable, net of current portion			63,572				65,038
Operating lease liability, net of current portion			1,534,078				1,693,577
Deferred tax liability			1,389,696				1,400,499
TOTAL LIABILITIES			25,663,779				11,063,972
Commitments and contingencies			–				–
STOCKHOLDERS’ EQUITY
Novo Integrated Sciences, Inc.
Convertible preferred stock; $0.001 par value; 1,000,000 shares authorized; Nil shares issued and outstanding at May 31, 2024 and August 31, 2023			–				–
Common stock; $0.001 par value; 499,000,000 shares authorized; 19,054,523 and 15,759,325 shares issued and outstanding at May 31, 2024 and August 31, 2023, respectively			19,055				15,760
Additional paid-in capital			96,660,608				90,973,316
Common stock to be issued (1,700 and 91,138 shares at May 31, 2024 and August 31, 2023)			25,500				1,217,293
Other comprehensive (loss) income			1,452,386				(357,383	)
Accumulated deficit			(88,201,415	)			(67,033,041	)
Total Novo Integrated Sciences, Inc. stockholders’ equity			9,956,134				24,815,945
Noncontrolling interest			(292,913	)			(316,870	)
Total stockholders’ equity			9,663,221				24,499,075
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	35,327,000			$	35,563,047

 

* The condensed consolidated balance sheets’ common stock amounts have been retroactively adjusted to account for the Company’s 1:10 reverse stock split, effective November 7, 2023.

 

 

NOVO INTEGRATED SCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For the Three and Nine Months Ended May 31, 2024 and 2023 (unaudited)

 

		Three Months Ended								Nine Months Ended
		May 31,				May 31,				May 31,				May 31,
		2024				2023				2024				2023
		(unaudited)				(unaudited)				(unaudited)				(unaudited)
Revenues		$	3,151,851			$	3,292,933			$	10,213,661			$	9,268,722
Cost of revenues			2,254,958				1,978,839				6,048,664				5,244,192
Gross profit			896,893				1,314,094				4,164,997				4,024,530
Operating expenses:
Selling expenses			2,635				1,877				14,811				9,916
General and administrative expenses			3,414,461				2,742,635				11,527,794				9,473,802
Total operating expenses			3,417,096				2,744,512				11,542,605				9,483,718
Loss from operations			(2,520,203	)			(1,430,418	)			(7,377,608	)			(5,459,188	)
Non operating income (expense)
Interest income			2,214				62,397				6,910				6,762
Interest expense			(178,445	)			(9,570	)			(460,503	)			(240,520	)
Other expense			(3,431	)			–				(964,368	)			–
Change in fair value of derivative liability			(6,724,690	)			–				(5,765,822	)			–
Amortization of debt discount			(2,904,830	)			(156,037	)			(5,095,331	)			(4,386,899	)
Exchange currency (loss) gain			(1,406,915	)			48,333				(1,485,861	)			12,652
Total other expense			(11,216,097	)			(54,877	)			(13,764,975	)			(4,608,005	)
Loss before income taxes			(13,736,300	)			(1,485,295	)			(21,142,583	)			(10,067,193	)
Income tax expense			–				–				–				–
Net loss		$	(13,736,300	)		$	(1,485,295	)		$	(21,142,583	)		$	(10,067,193	)
Net income (loss) attributed to noncontrolling interest			5,603				12,035				25,791				(13,095	)
Net loss attributed to Novo Integrated Sciences, Inc.		$	(13,741,903	)		$	(1,497,330	)		$	(21,168,374	)		$	(10,054,098	)
Comprehensive loss:
Net loss			(13,736,300	)			(1,485,295	)			(21,142,583	)			(10,067,193	)
Foreign currency translation gain (loss)			750,067				(120,357	)			1,809,769				(738,022	)
Comprehensive loss:		$	(12,986,233	)		$	(1,605,652	)		$	(19,332,814	)		$	(10,805,215	)
Weighted average common shares outstanding - basic and diluted			18,685,979				14,360,058				17,688,692				8,583,229
Net loss per common share - basic and diluted		$	(0.74	)		$	(0.10	)		$	(1.20	)		$	(1.17	)

 

* The condensed consolidated statements of operations and comprehensive loss’s share and per share amounts have been retroactively adjusted to account for the Company’s 1:10 reverse stock split, effective November 7, 2023.

 

 

NOVO INTEGRATED SCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

For the Three and Nine Months Ended May 31, 2024 and 2023 (unaudited)

 

		Common Stock								Additional Paid-in				Common Stock To				Other Comprehensive				Accumulated				Total Novo Stockholders’				Noncontrolling				Total
		Shares				Amount				Capital				Be Issued				Income				Deficit				Equity				Interest				Equity
Balance, August 31, 2023			15,759,325			$	15,760			$	90,973,316			$	1,217,293			$	(357,383	)		$	(67,033,041	)		$	24,815,945			$	(316,870	)		$	24,499,075
Cashless exercise of warrants			245,802				246				1,323,152				–				–				–				1,323,398				–				1,323,398
Exercise of warrants for cash			240,400				240				240,160				–				–				–				240,400				–				240,400
Share issuance for convertible debt settlement			519,845				520				577,002				–				–				–				577,522				–				577,522
Issuance of common stock to be issued			73,767				74				1,172,776				(1,172,850	)			–				–				–				–				–
Common stock issued for services			424,080				424				1,194,976				–				–				–				1,195,400				–				1,195,400
Reverse stock split share rounding			27,973				28				(28	)			–				–				–				–				–				–
Foreign currency translation gain			–				–				–				–				110,895				–				110,895				(1,919	)			108,976
Net loss			–				–				–				–				–				(4,680,343	)			(4,680,343	)			19,620				(4,660,723	)
Balance, November 30, 2023			17,291,192			$	17,292			$	95,481,354			$	44,443			$	(246,488	)		$	(71,713,384	)		$	23,583,217			$	(299,169	)		$	23,284,048
Share issuance for convertible debt settlement			457,128				457				453,616				–				–				–				454,073				–				454,073
Foreign currency translation gain			–				–				–				–				749,869				–				749,869				198				750,067
Fair value of stock options			–				–				147,656				–				–				–				147,656				–				147,656
Net loss			–				–				–				–				–				(2,746,128	)			(2,746,128	)			568				(2,745,560	)
Balance, February 29, 2024			17,748,320			$	17,749			$	96,082,626			$	44,443			$	503,381			$	(74,459,512	)		$	22,188,687			$	(298,403	)		$	21,890,284
Share issuance for convertible debt settlement			1,306,203				1,306				577,982				–				–				–				579,288				–				579,288
Cancellation of agreement			–				–				–				(18,943	)			–				–				(18,943	)			–				(18,943	)
Foreign currency translation gain			–				–				–				–				949,005				–				949,005				(113	)			948,892
Net loss			–				–				–				–				–				(13,741,903	)			(13,741,903	)			5,603				(13,736,300	)
Balance, May 31, 2024			19,054,523			$	19,055			$	96,660,608			$	25,500			$	1,452,386			$	(88,201,415	)		$	9,956,134			$	(292,913	)		$	9,663,221

 

 

		Common Stock								Additional Paid-in				Common Stock To				Other Comprehensive				Accumulated				Total Novo Stockholders’				Noncontrolling				Total
		Shares				Amount				Capital				Be Issued				Income				Deficit				Equity				Interest				Equity
Balance, August 31, 2022			3,118,063			$	3,118			$	66,084,887			$	9,474,807			$	560,836			$	(53,818,489	)		$	22,305,159			$	(257,588	)		$	22,047,571
Common stock issued for cash, net of offering costs			400,000				400				1,794,600				–				–				–				1,795,000				–				1,795,000
Issuance of common stock to be issued			3,623				4				92,362				(92,366	)			–				–				–				–				–
Cashless exercise of warrants			467,399				467				1,138,583				–				–				–				1,139,050				–				1,139,050
Fair value of stock options			–				–				60,887				–				–				–				60,887				–				60,887
Foreign currency translation loss			–				–				–				–				(417,008	)			–				(417,008	)			(3,974	)			(420,982	)
Net loss			–				–				–				–				–				(3,935,413	)			(3,935,413	)			(1,323	)			(3,936,736	)
Balance, November 30, 2022			3,989,085			$	3,989			$	69,171,319			$	9,382,441			$	143,828			$	(57,753,902	)		$	20,947,675			$	(262,885	)		$	20,684,790
Share issuance for convertible debt settlement			9,310,940				9,311				9,076,740				–				–				–				9,086,051				–				9,086,051
Exercise of warrants (Cashless Exercise)			115,935				116				282,417				–				–				–				282,533				–				282,533
Exercise of warrants for cash			131,000				131				130,869				–				–				–				131,000				–				131,000
Issuance of common stock to be issued			320,202				320				8,164,828				(8,165,148	)			–				–				–				–				–
Shares issued with convertible notes			95,500				96				82,868				–				–				–				82,963				–				82,963
Value of warrants issued with convertible notes			–				–				86,327				–				–				–				86,327				–				86,327
Fair value of stock options			–				–				60,887				–				–				–				60,887				–				60,887
Extinguishment of derivative liability due to conversion			–				–				1,390,380				–				–				–				1,390,380				–				1,390,380
Foreign currency translation loss			–				–				–				–				(195,821	)			–				(195,821	)			(862	)			(196,683	)
Net loss			–				–				–				–				–				(4,621,355	)			(4,621,355	)			(23,807	)			(4,645,162	)
Balance, February 28, 2023			13,962,662				13,963				88,446,635				1,217,293				(51,993	)			(62,375,257	)			27,250,640				(287,554	)			26,963,086
Share issuance for convertible debt settlement			107,594				108				100,170				–				–				–				100,278				–				100,278
Exercise of warrants for cash			320,000				320				319,680				–				–				–				320,000				–				320,000
Shares issued with convertible notes			95,500				96				90,037				–				–				–				90,132				–				90,132
Value of warrants issued with convertible notes			–				–				93,811				–				–				–				93,811				–				93,811
Beneficial conversion feature upon issuance of convertible debt			–				–				66,068				–				–				–				66,068				–				66,068
Stock option expense			–				–				263,561				–				–				–				263,561				–				263,561
Foreign currency translation loss			–				–				–				–				(120,533	)			–				(120,533	)			176				(120,357	)
Net loss			–				–				–				–				–				(1,497,330	)			(1,497,330	)			12,035				(1,485,295	)
Balance, May 31, 2023			14,485,756			$	14,486			$	89,379,961			$	1,217,293			$	(172,526	)		$	(63,872,587	)		$	26,566,627			$	(275,343	)		$	26,291,284

 

* The condensed consolidated statements of stockholders’ equity share amounts have been retroactively adjusted to account for the Company’s 1:10 reverse stock split, effective November 7, 2023.

 

 

NOVO INTEGRATED SCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Nine Months Ended May 31, 2024 and 2023 (unaudited)

 

		Nine Months Ended
		May 31,				May 31,
		2024				2023
		(unaudited)				(unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$	(21,142,583	)		$	(10,067,193	)
Adjustments for non-cash items:
Depreciation and amortization			1,697,317				1,718,388
Fair value of vested stock options			147,656				385,335
Change in fair value of derivative liability			5,765,822				–
Cashless exercise of warrants			1,323,398				1,421,583
Common stock issued for services			1,195,400				–
Operating lease expense			466,276				624,246
Amortization of debt discount			5,095,331				4,386,899
Foreign currency transaction losses			1,485,861				(12,652	)
Changes in operating assets and liabilities:
Accounts receivable			(797,692	)			(308,907	)
Inventory			(12,548	)			(92,260	)
Prepaid expenses and other current assets			130,015				333,724
Accounts payable			408,067				154,542
Accrued expenses			76,428				104,004
Accrued interest			103,605				(67,634	)
Operating lease liability			(466,276	)			(594,618	)
Net cash used in operating activities			(4,523,923	)			(2,014,543	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment			(2,005	)			(18,870	)
Net cash used in investing activities			(2,005	)			(18,870	)
CASH FLOWS FROM FINANCING ACTIVITIES:
(Repayments to) proceeds from related parties			(267,756	)			(56,649	)
Proceeds from notes payable			274				222,000
Repayments of notes payable			(184,125	)			–
Repayments of finance leases			(7,350	)			(6,435	)
Proceeds from issuance of convertible notes, net			8,649,153				925,306
Repayment of convertible notes			(3,311,536	)			(3,033,888	)
Proceeds from the sale of common stock, net of offering costs			–				1,795,000
Proceeds from exercise of warrants			240,400				451,000
Net cash provided by financing activities			5,119,060				296,334
Effect of exchange rate changes on cash and cash equivalents			530,316				22,403
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			1,123,448				(1,714,676	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			416,323				2,178,687
CASH AND CASH EQUIVALENTS, END OF PERIOD		$	1,539,771			$	464,011
CASH PAID FOR:
Interest		$	190,491			$	343,878
Income taxes		$	–			$	–
SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued for convertible debt settlement		$	1,610,883			$	9,186,329
Beneficial conversion feature upon issuance of convertible notes			–				66,068
Debt discount recognized on derivative liability			–				1,390,380
Debt discount recognized on convertible note			–				639,993
Extinguishment of derivative liability due to conversion			–				1,390,380
Common stock issued with convertible notes			–				173,095
Warrants issued with convertible notes		$	–			$	180,138

 

The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.

 

 

v3.24.2

Cover	Jul. 19, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 19, 2024
Entity File Number	001-40089
Entity Registrant Name	Novo Integrated Sciences, Inc.
Entity Central Index Key	0001138978
Entity Tax Identification Number	59-3691650
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	11120 NE 2nd Street
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Bellevue
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98004
City Area Code	(206)
Local Phone Number	617-9797
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock
Trading Symbol	NVOS
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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