10-Q

 UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED  May 31, 2015

OR

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO ________.

COMMISSION FILE NUMBER: 0-52518

EVENT CARDIO GROUP INC.

(Exact Name of Registrant as Specified in its Charter)

Nevada	20 - 8051714
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)
2798 Thamesgate Dr. Mississauga, Ontario, Canada	L4T 4E8
(Address of principal executive offices)	(Zip code)

Issuer's telephone number:
89-407-4377

 (Address of principal executive offices)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [x] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [x] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ] (Do not check if a smaller reporting company)	Smaller reporting company [x]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [x]

As of July 1, 2015, 103,097,702 shares of Common Stock, $0.001 par value, were outstanding exclusive of 1,412,619 shares owned by our subsidiary.

EVENT CARDIO GROUP INC.

CONTENTS TO FORM 10-Q

		Page
PART I --	FINANCIAL INFORMATION
Item 1.	Financial Statements (Unaudited)	1
	Consolidated Balance Sheets at May 31, 2015 (Unaudited) and August 31, 2014	1
	Consolidated Statements of Comprehensive Loss the Nine Months ended May 31, 2015 (Unaudited)	2
	Statements of Changes in Stockholders’ Deficit for the Nine Months ended May 31, 2015 (Unaudited)	3
	Unaudited Consolidated Statements of Cash Flows for the Nine Months ended May 31, 2015 (Unaudited)	4
	Notes to Unaudited Consolidated Financial Statements	5
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	10
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	14
Item 4.	Controls and Procedures	14
PART II -	OTHER INFORMATION	15
Item 1.	Legal Proceedings	15
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds from Sales of Registered Securities	15
Item 3.	Defaults Upon Senior Securities	15
Item 4.	Mine Safety Disclosures	15
Item 5.	Other Information	15
Item 6.	Exhibits	15
Signatures		16
Exhibit/Index

PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

EVENT CARDIO GROUP INC.

CONSOLIDATED BALANCE SHEETS

AS OF MAY 31, 2015 AND AUGUST 31, 2014

(Unaudited)

	May 31, 2015			August 31, 2014
ASSETS:
Current Assets
Cash	$	34,617		$	86,617
Prepaid expenses		879,395			—
Total Current Assets		914,012			86,617
Property and Equipment, net		151,610			2,960
Financing Costs, net		38,235			40,097
Intangible Asset		501,064			—
TOTAL ASSETS	$	1,604,921		$	129,674
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT):
Current Liabilities
Accounts payable	$	274,122		$	56,197
Due to related parties		60,097			74,423
Notes payable - related parties		531,142			—
Total Current Liabilities		865,361			130,620
Convertible Notes Payable		525,000			—
Notes Payable - Related Parties		—			384,978
TOTAL LIABILITIES		1,390,361			515,598
Stockholders' Equity (Deficit)
Preferred stock, $0.001 par value; 10,000,000 shares authorized, nil shares issued and outstanding		—			—
Common stock,190,000,000 shares authorized at $0.001 par value, 79,500,000 common shares issued and outstanding at August 31, 2014  and 104,510,321 at May 31, 2015		104,510			79,500
Additional paid in capital		1,743,937			—
Accumulated other comprehensive income		67,826			4,999
Accumulated deficit		(1,701,713	)		(457,483	)
Total Event Cardio Group Inc. stockholders' equity (deficiency)		214,560			(372,984	)
Non-controlling interest		—			(12,940	)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)		214,560			(385,924	)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$	1,604,921		$	129,674

Table of Contents 1

EVENT CARDIO GROUP INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

FOR THE NINE MONTHS ENDED MAY 31, 2015 and 2014

(Unaudited)

	Three Months Ended May 31,						Nine Months Ended May 31,
	2015			2014			2015			2014
Revenue	$	—		$	—		$	—		$	—
Operating Expenses
General and administrative		387,444			121,629			708,330			133,003
Research and development		241,660			—			456,759			—
Total Operating Expenses		629,104			121,629			1,165,089			133,003
Loss from Operations		(629,104	)		(121,629	)		(1,165,089	)		(133,003	)
Other Expenses
Interest expense - related parties		15,749			—			55,818			—
Interest expense - other		3,500			—			3,500			—
Net Loss		(648,353	)		(121,629	)		(1,224,407	)		(133,003	)
Other Comprehensive Income
Foreign currency translation adjustment		(13,694	)		—			62,827			—
Total Comprehensive Loss	$	(662,047	)	$	(121,629	)	$	(1,161,580	)	$	(133,003	)
Loss per Share - Basic and Diluted	$	(0.007	)	$	(0.002	)	$	(0.013	)	$	(0.002	)
Weighted Average Shares - Basic and Diluted		98,720,647			79,500,000			92,065,904			79,500,000

Table of Contents 2

EVENT CARDIO GROUP INC.

STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)

FOR THE NINE MONTHS ENDED MAY 31, 2015

(Unaudited)

	Common Stock
	Number of Common Shares Issued and Outstanding		Amount		Additional Paid in Capital		Accumulated Other Comprehensive Income		Accumulated Deficit			Non-Controlling Interest			Total Stockholders' Equity (Deficiency)
Balance, September 1, 2014		79,500,000	$	79,500	$	—	$	4,999	$	(457,483	)	$	(12,940	)	$	(385,924	)
Effect of reverse merger		6,882,773		6,883		—		—		(19,823	)		12,940			—
Issued for cash		1,750,000		1,750		195,250		—		—			—			197,000
Issued as settlement of payables pursuant to license agreement		2,827,548		2,827		373,237		—		—			—			376,064
Issued for services		13,550,000		13,550		1,175,450		—		—			—			1,189,000
Net comprehensive income (loss)		—		—		—		62,827		(1,224,407	)		—			(1,161,580	)
Balance, May 31, 2015		104,510,321	$	104,510	$	1,743,937	$	67,826	$	(1,701,713	)	$	—		$	214,560

Table of Contents 3

EVENT CARDIO GROUP INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED MAY 31, 2015 and 2014

(Unaudited)

Nine Months Ended May 31	2015			2014
Cash Flows from Operating Activities
Net loss	$	(1,224,407	)	$	(133,003	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of prepaid expenses		212,579			—
Depreciation of property and equipment		1,016			—
Amortization of financing costs		22,741			—
Professional fees paid through common share issuance		113,125			—
Changes in assets and liabilities:
Prepaid expenses		(16,099	)		(306,667	)
Accounts payable		217,925			12,383
Net cash used in operating activities		(673,120	)		(427,287	)
Cash Flows from Investing Activities
Purchase of property and equipment		(150,000	)		—
Purchase of intangible asset		(125,000	)		—
Net cash used in investing activities		(275,000	)		—
Cash Flows from Financing Activities
Repayments on due from related parties		(27,566	)		—
Advances on due from related parties		14,434			476
Proceeds from convertible note payable		500,000			—
Proceeds from long-term debt - related parties		195,822			418,000
Proceeds from issuance of common shares		197,000			—
Net cash provided by financing activities		879,690			418,476
Effect of exchange rate on cash		16,430			—
Decrease in Cash		(52,000	)		(8,811	)
Cash, beginning of period		86,617			11,481
Cash, end of period	$	34,617		$	2,670

Table of Contents 4

EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

1. OVERVIEW

Description of Business

Sunrise Holdings Limited was incorporated on October 26, 2005 under the laws of Nevada. It changed its name to Event Cardio Group Inc. (the "Company") on November 7, 2014. The Company is developing a cardiac monitoring device based on a wireless and leadless advance cardiac monitor. Upon completion of the development the device will collect medical data and transmit it to physicians for diagnostic evaluation. The Company also has a license agreement to distribute a patented product in the use of breast disease detection.

The Company has elected to adopt early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements and does not present or disclose inception-to-date information and other remaining disclosure requirements of Topic 915.

Going Concern

As shown in the accompanying financial statements, the Company has not generated any revenue since inception, has incurred losses, and has an accumulated deficit of $1,701,713 as of May 31, 2015. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations, which it has not been able to accomplish to date, and/or obtain additional financing from its stockholders and/or other third parties.

These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next fiscal year. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, successfully locating and negotiating with other business entities for potential acquisitions and/or acquiring new clients to generate revenues. There is no assurance that the Company will ever be profitable. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

Basis of Presentation

The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of May 31, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the nine months ended May 31, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the form 8-K/A filed with the SEC on November 26, 2014. 

These financial statements contain the accounts of the Company and the accounts of the Company's subsidiaries 2340960 Ontario Inc. and EFIL Sub of ECG Inc. as at May 31, 2015 and August 31, 2014. Any inter-company accounts and transactions are eliminated.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and are presented in United States Dollars.

Table of Contents 5

EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

In preparing these financial statements in conformity with GAAP, management is required to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting years. Actual results could differ from those estimates.

Fair Value Measurements

ASC 820, “Fair Value Measurements”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2, inputs other than level one that are either directly or indirectly observable such as quoted prices for identical or similar assets or liabilities on markets that are not active; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company had no assets or liabilities required to be recorded at fair value on a recurring basis as of May 31, 2015 or August 31, 2014.

Share Based Compensation

The Company applies ASC 718 Share-Based Compensation and ASC 505 Equity to account for service provider share-based payments. In accordance with ASC 718 and ASC 505, the Company determines whether a share based payment should be classified and accounted for as a liability award or equity award.

All grants of share-based payments to service providers are classified as equity awards and are recognized in the financial statements over the period in which the services are received based on the fair value determined as of the measurement date.

Cash and Cash Equivalents

The Company considers all highly-liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of May 31, 2015 or August 31, 2014.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions.

Income Taxes

Under ASC 740, "Income Taxes", deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized.

Table of Contents 6

 EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, the Company has established a full valuation allowance against all of the deferred tax assets for every period because it is more likely than not that all of the deferred tax assets will not be realized.

The Company files income tax returns in Canada and the United States with varying statutes of limitations. The Company's policy is to recognize interest expense and penalties related to income tax matters as a component of our provision for income taxes. There were no accrued interest and penalties associated with uncertain tax positions as of May 31, 2015.

Foreign Currency Translation

The Company's reporting and functional currency is the U.S. dollar. The Company's Canadian operation's functional currency is the Canadian dollar. The Company's U.S. subsidiary's functional currency is the U.S. dollar.

Transactions originating in Canadian dollars are translated to the functional currency of the US dollar as follows: using year end rates of exchange for financial assets and liabilities, average rates of exchange for the period of transactions for revenues and expenses and historical rates for property and equipment and equity.

The financial statements of the Company's Canadian operations are translated from the functional currency of the Canadian dollar into the reporting currency of the United States dollar in accordance with ASC 830, Foreign Currency Matters, using year end rates of exchange for assets and liabilities, average rates of exchange for the period for revenues and expenses and historical rates for equity.

Translation adjustments resulting from the process of translating the functional currency of Canadian dollar Canadian operation's financial statements into the reporting currency of U.S. dollar financial statements are included in determining comprehensive income. As of May 31, 2015 and August 31, 2014, the cumulative translation adjustment of $67,826 and $4,999 respectively was classified as an item in accumulated other comprehensive income in the stockholders' deficit section of the balance sheet. For the period ended May 31, 2015 and May 31, 2014, the foreign currency translation adjustment to accumulated other comprehensive income was $62,827 and $nil respectively.

Comprehensive Loss

Comprehensive loss is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, Accounting Standards Codification (ASC) 200, Comprehensive Income, requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. For the year presented, the Company's comprehensive loss includes net loss and foreign currency translation adjustments and is presented in the statement of comprehensive loss.

Table of Contents 7

EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Property and Equipment

Property and equipment consists of computer equipment and machinery and equipment and are stated at cost. Computer equipment is depreciated using the straight-line method over the estimated service life of three years. The machinery and equipment is not yet being depreciated as it is still under development. Maintenance and repairs are expensed as incurred and improvements are capitalized. Gains or losses on the disposition of property and equipment are recorded upon disposal.

Research and Development Expenses

All research and development costs are expensed as incurred.

Intangible Asset

License agreement is carried at cost, net of any impairment charges.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset.

If the carrying amount of an asset exceeds its undiscounted estimated future cash flows, an impairment review is performed. An impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet. For the periods ended May 31, 2015 and August 31, 2014 there was an impairment charge of $nil and $nil, respectively with respect to license agreement.

Convertible Instruments

The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815 “Derivatives and Hedging Activities”. Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

The Company accounts for convertible instruments (when we have determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: To record when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.

Table of Contents 8

EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

3. PROPERTY & EQUIPMENT

Property and equipment consists of the following as of May 31, 2015 and August 31, 2014:

					May 31, 2015		August 31, 2014
	Cost		Accumulated Depreciation		Net Book Value		Net Book Value
Computer equipment	$	3,866	$	2,256	$	1,610	$	2,960
Machinery and equipment		150,000		—		150,000		—
	$	153,866	$	2,256	$	151,610	$	2,960

The machinery and equipment has not been depreciated as it is still under development.

4. INTANGIBLE ASSET

On October 24, 2014, the Company entered into a License Agreement with Life Medical Technologies, Inc. with respect to Life Medical’s “BreastCare DTS™” product and certain other technologies. The License Agreement grants the Company the exclusive right to distribute the BreastCare DTS™ in the United States, Canada and certain countries in Asia, including China. The Agreement calls for royalties of 5% on net sales, as defined in the License Agreement, and requires minimum annual royalties of $100,000 in 2015 and $200,000 each year thereafter.

As part of entering into the License Agreement, the Company entered into release agreements with certain creditors of Life Medical Technologies, Inc. which held judgments against Life Medical in the aggregate amount of approximately $501,000. Pursuant to the Release Agreements, the Company agreed to pay those Creditors an aggregate of $501,064, satisfied through the issuance of common shares, as described in Note 9, valued at $376,064 and payment of $125,000 cash.

The product is currently under development and as such the costs associated with the license agreement are not yet being amortized.

5. DUE TO RELATED PARTIES

The amounts due to related parties are non-interest bearing, with no fixed terms of repayment, are payable on demand and are unsecured. As of May 31, 2015 and August 31, 2014, the amounts of due to related parties are $60,097 and $74,423 respectively.

6. NOTES PAYABLE - RELATED PARTIES

As at May 31, 2015, the Company has a promissory note outstanding to 2399371 Ontario Inc., a company owned by an affiliate, for $583,000 Canadian ($467,683 US$) bearing interest at 12% per annum, payable on December 1, 2015. In connection with the entry into the License Agreement described in Note 4, the Company borrowed CAD $79,106 ($63,459 US$) to be repaid on December 1, 2015, together with interest at the rate of 12% per annum from 9058583 Canada Inc., a corporation owned by affiliates. In conjunction with this loan, the Company entered into a Sublicense agreement with 9508583 Canada Inc. whereby 9508583 Canada Inc. will be granted the exclusive rights to distribute the BreastCare DTS™ product in Canada with royalties payable at the rate of 5.5% of net sales, as to be defined in the Sublicense Agreement, to the Company.

Table of Contents 9

EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

7. CONVERTIBLE NOTES PAYABLE

The company is offering, pursuant to a Regulation S Subscription Agreement and Investment Representation dated February 3, 2015, up to $2,000,000 of 8% convertible notes with interest payable annually on January 31st. The holder upon written notice to the company may elect to have accrued but unpaid interest added to the principal amount of the note in lieu of payment of interest. The principal amount of the note is payable on January 31, 2018. The note, or any part thereof and any unpaid interest is convertible into common shares of the company at any time at the option of the holder at a conversion price of $0.15 per common share. The note may be prepaid at any time in full by the company upon ten days notice to the holder. As at May 31, 2015, $525,000 of the convertible notes payable have been issued as follows.

Medpac Asia Pacific PTY Ltd. of Austraila ("Medpac") for $500,000. In addition to the terms of the convertible note payable described above, if the note is prepaid by the ompany at any time prior to the maturity date, if the volume weighted average price of the common shares of the company for the ten trading days preceding the early repayment date is less than $0.15 per common share, then Medpac shall receive a number of common share purchase warrants sufficient to purchase up to 1% of the then outstanding number of common shares of the Company. Such common share purchase warrants once issued would be exercisable for a period of three years at an exercise price of $0.15 per common share, but may be exercised on a cashless basis in accordance with a specified formula.

Main Street Capital Pty. Ltd. has received, for its services as part of the Medpac transaction noted above, a convertible note payable of $25,000 having the terms and conditions identical to Medpac's convertible note payable described above, except that the number of common share purchase warrants potentially issuable upon early payment of the note would be sufficient to only purchase up to 0.0005% of the then outstanding common shares of the company.

In conjunction with Medpac's investment noted above, the Company has agreed to enter into an exclusive Distribution Agreement with Medpac for the Company's BreastCare DTS TM and Now Cardio devices in Australia, New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Laos, Cambodia Myanmar and Bangladesh. The Distribution Agreement will have an initial term of five years and can be renewed for an additional five years provided that agreed upon sales targets are met. If the company does not establish a manufacturing facility for its BreastCare DTS™ device in Southeast Asia within eighteen months of this agreement, Medpac and the company will form a joint venture to establish such a facility in the Philippines.

8. BUSINESS COMBINATION

On September 8, 2014, the Company entered into a share exchange agreement with 2340960 Ontario Inc.'s shareholders whereby the Company acquired all of the issued and outstanding common shares of 2340960 Ontario Inc. in exchange for 79,500,000 common shares of the Company. Upon completion of this transaction, the shareholders of 2340960 Ontario Inc. held approximately 93.6% of voting control of the Company. This transaction, has been accounted for as a reverse merger with 2340960 Ontario Inc. being the acquirer and the Company being the acquiree. As part of this transaction, the Company has changed its fiscal year end from September 30th to August 31st.

9. STOCKHOLDERS' DEFICIT

Common Shares and Common Share Purchase Warrant Issuance

On November 9, 2014, the Company issued 700,000 common shares for proceeds of $100,000.

Table of Contents 10

EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

9. STOCKHOLDERS' DEFICIT (Continued)

On January 6, 2015, the Company issued 2,827,548 common shares valued at $376,064 in satisfaction of an obligation related to a license agreement as described in Note 4. The common shares were valued using the volume weighted average price of the company's common stock as reported by Bloomberg for the five consecutive trading days ending on the day before the 15th calendar day after consummation of this share exchange.

On January 30, 2015, the company issued 250,000 common shares and 250,000 common share purchase warrants for total proceeds of $25,000.

On February 2, 2015, the Company issued 800,000 common shares for proceeds of $72,000.

On February 2, 2015, the Company issued 4,300,000 common shares in exchange for service agreements for a fair value of $387,000, based on the market price of $0.09 per common share as of the measurement date.

On March 4, 2015, the Company issued 2,900,000 common shares in exchange for service agreements for a fair value of $290,000, based on the market price of $0.10 per common share as of the measurement date.

On March 23, 2015, the Company issued 100,000 common shares in exchange for a service agreement for a fair value of $12,000, based on the market price of $0.12 per common share as of the measurement date.

On May 22, 2015, the Company issued 6,250,000 common shares in exchange for service agreements for a fair value of $500,000, based on the market price of $0.08 per common share as of the measurement date.

Common Share Purchase Warrants

As of May 31, 2015 there are 250,000 common share purchase warrants issued and outstanding. Each warrant allows the holder to purchase 1 common share of the company at an exercise price of $0.20 per warrant up to the expiration date of January 31, 2016. 

Commitment to Issue Shares

In exchange for a service agreement, the Company is required to issue 250,000 shares of restricted common stock on July 5, 2015; October 5, 2015; January 5, 2016; April 5, 2016 and July 5, 2016.

Equity Incentive Plan

The Company has created the Event Cardio Group Inc. 2015 Equity Incentive Plan ("equity incentive plan") which allows for the granting of incentive stock options to employees of the company, a parent or a subsidiary and the granting of awards other than incentive stock options to employees, directors and consultants. The maximum number of common shares which may be issued pursuant to the equity incentive plan at May 31, 2015 and May 31, 2014 is 10,000,000 and nil respectively. No incentive stock options or awards other than incentive stock options have been granted as of May 31, 2015.

10. RELATED PARTY

The Company is related to Contex International Technologies (Canada) Inc. ("Contex") through the fact that affiliates of the Company hold a 34% interest in 2419596 Ontario Inc, which owns Contex.

Table of Contents 11

EVENT CARDIO GROUP INC.

NOTES TO FINANCIAL STATEMENTS

May 31, 2015 and August 31, 2014

10. RELATED PARTY (Continued)

The Company has entered into a service agreement with Contex, whereby Contex will provide services related to the design and development of a wireless and leadless ECG cardiac monitor. The agreement runs for a term of one year to May 22, 2016 and will automatically renew for subsequent terms of one year unless notice of termination is given by either party in writing.

For the nine months ended May 31, 2015 and May 31, 2014, $334,944 and $nil respectively, have been incurred related to this agreement and have been expensed in research and development expense.

See Note 6 regarding notes payable - related parties.

11. COMMITMENT

In exchange for a service agreement, the Company is committed to pay $5,000 per month up to August 5, 2016.

Table of Contents 12

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding our future results of operations and financial position, business strategy and plans and our objectives for future operations. The words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “intend,” “continue” and other similar expressions are intended to identify forward-looking statements. We have based these forward looking statements largely on current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business operations and objectives, and financial needs. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, among others, those discussed in our consolidated financial statements, related notes, and the other financial information appearing elsewhere in this report and our other filings with the Securities and Exchange Commission, or the SEC, particularly those contained in the Section entitled “Risk Factors” in our Form 10-K filed with the SEC on January 8, 2015. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. We do not intend, and undertake no obligation, to update any of our forward-looking statements after the date of this report to reflect actual results or future events or circumstances. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

Our fiscal year ends on August 31 each year.

OVERVIEW

Event Cardio Group Inc. and its subsidiaries (collectively, “ECGI”, “we”, “our” or the “Company”) were organized on October 26, 2005 and have had no operations since December, 2008, when we discontinued our previous business of mineral exploration. Most of our activities since January, 2009 have been centered on the acquisition of a new business.

On June 9, 2014 we experienced a change of control as a result of a transaction (the “Transaction”) in which 1,412,619 shares of our common stock, par value $0.001 and 10,000,000 shares of our preferred stock, par value $0.001, constituting approximately 97% of the cumulative voting power of our capital stock on that date, was acquired by Mr. John Bentivoglio, who is now our sole director and chief executive officer, as nominee for 2340960 Ontario Inc., a private company organized in Ontario, Canada, which is doing business as Event Cardio Group and which we hereinafter refer to as “ECG”. The shares acquired of record by Mr. John Bentivoglio on June 9, 2014 are now owned beneficially and of record by ECG. On September 8, 2014, we entered into a share exchange agreement (the “Exchange Agreement”), which we consummated on November 14, 2014, pursuant to which we acquired all of the issued and outstanding capital stock of ECG from ECG’s stockholders, The Nick Bozza Family Trust, The John Bentivoglio Family Trust and The Sgro (2010) Family Trust. In exchange for all of the outstanding capital stock of ECG, we issued to ECG’s stockholders an aggregate of 79,500,000 shares of our Common Stock (the “Share Exchange”). As a result of the consummation of the Share Exchange, (i) ECG became our wholly owned subsidiary and (ii) the ECG’s former stockholders own an aggregate of 79,500,000 shares which constituted approximately 92.8% of the cumulative voting power of our common stock on the date the share exchange was consummated.

Mr. John Bentivoglio, our sole director and chief executive officer is one of three trustees of The John Bentivoglio Family Trust, the beneficiaries of which are members of his family.

On October 24, 2014, through a wholly owned subsidiary, we entered into a license agreement (the “License Agreement”) with Life Medical Technologies, Inc. (“Life Medical”) under which we were granted the exclusive right to distribute Life Medical’s “BreastCare DTS™” in the United States and certain other territories. The BreastCare DTS™ product is a patented, non-invasive and FDA-cleared as an adjunct to mammography and other established procedures for the detection of breast disease, including breast cancer.

Table of Contents 13

GENERAL

The Exchange Agreement is accounted for a reverse merger, in which ECG is deemed to be the acquiring entity for accounting purposes. The discussion and analysis of our financial condition and results of operations is based upon the financial statements of ECG which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of the Financial Statements requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities. On an on-going basis, the Company estimates on historical experience and on various other assumptions that, it believes to be reasonable under the circumstances, the results of which form the Company’s basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

Reference is made to the Notes to the financial statements of 2340960 Ontario Inc. (which we refer to in this Report as ECG) for the periods ended August 31, 2014 and August 31, 2013, which is filed as Exhibit 99.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on November 26, 2014 (the “Financial Statements”), which should be read in conjunction with this Management Discussion below. The numbers and percentages contained in this Section are approximate.

The Company cannot predict what future laws and regulations might be passed that could have a material effect on its results of operations. The Company assesses the impact of significant changes in laws and regulations on a regular basis and updates the assumptions and estimates used to prepare its financial statements when it deems necessary.

The Company’s primary sources of funding to date have been capital contributions by its stockholders and cash provided by borrowings from affiliates. The Company’s primary uses of

funds have been for capital expenditures, general and administrative expenses and research and development expenditures.

RESULTS OF OPERATIONS

We have been in the developmental stage since inception. Since inception, our efforts have been principally devoted to designing and developing a wireless cordless cardio monitor and a device intended to detect breast disease. From inception to May 31, 2015, the Company has sustained losses and has an accumulated deficit of $1.701,713.

Our loss from operations for the nine months ended May 31, 2015 was $1,165,089 compared to a loss of $133,003 for the nine months ended May 31, 2014. General and administrative expenses were $708,330 for the nine months ended May 31, 2015, compared to $133,003 for the nine months ended May 31, 2014, an increase of $575,317. This increase is predominately due to increased expenses related to the start-up of our business, the acquisition of the license from Life Medical and expenses related to operating as a public company.

Also, we incurred research and development expenses of $456,759 during the nine months ended May 31, 2015 as compared to $0 during the comparable period ended May 31, 2014, related to the development of our cardiac monitoring device.

Total comprehensive loss for the nine months ended May 31, 2015 was $1,161,580 as compared to $133,003for the period nine months ended May 31, 2014. The increase in our loss resulted from the general and administrative and research development expenses described above which began in earnest as a result of the reverse merger and the efforts to develop our heart monitor.

LIQUIDITY AND CAPITAL RESOURCES

Period ended May 31, 2015 and August 31, 2014

Table of Contents 14

As of May 31, 2015, our total assets were $1,604,921, total liabilities were $1,390,361 and stockholders’ equity was $214,560 compared to a deficit of $372,984 as of August 31, 2014. Current assets at May 31, 2015 were $914,012 consisting of cash of $34,617 and prepaid expenses of $879,395. In comparison, current assets at August 31, 2014 was $86,617, all of which was cash. The improvement in our stockholders equity reflects sales of 1,750,000 shares of common stock and 250,000 warrants for total proceeds of $197,000, the issuance of shares valued at $1,175,450 for services rendered or to be rendered by various consultants and the issuance of shares to satisfy various claims of Life Medical in connection with obtaining the license agreement described below.

As of May 15, 2015, our total current liabilities of $865,361 consisted of stockholder loans in the amount of $60,097, notes payable to related parties in the amount of $531,142 and accounts payable of $274,122 .In comparison, our current liabilities as of August 31, 2014 were $130,620, of which $74,423 was due to related parties. Our total liabilities as of May 31, 2015, included convertible notes payable in the amount of $525,000 as compared to $384,978 in notes payable to related parties as of August 31, 2014. The significant increase in our total liabilities as of May 31, 2015 compared to August 2014 resulted from the increase in our accounts payable, long-term borrowing from related parties to pay expenses related to our operational activities and the issuance of a convertible note in connection with the grant of rights to market our products in Australia.

The net cash used in our operating activities in the nine months ended May 31, 2015 was $673,120, an increase in use of $245,833 from that used in the nine-month period ended May 31, 2014. The substantial increase in our use of cash reflects the increase in our development activities which commenced in earnest in the current fiscal year as reflected in the increase in our operating loss which grew to $1,165,089 in the first nine months of this year, compared to $133,003 in the first nine months of the prior year.

Net cash used in investment activities in the nine-months ended May 31, 2015 was $275,000, as compared to $0 in the comparable period ended May 31, 2014, which increase primarily was due to the acquisition of our License Agreement with Life Medical. Net cash from financing activities in the nine-months ended May 31, 2015 was $879,690, compared to $418,476 in the comparable period ended May 31, 2014, which increase reflects the $500,000 proceeds from the issuance of a convertible note, proceeds from long-term debt provided by related parties and proceeds from the issuance of our shares.

ECG has been in the developmental stage since inception. Since inception, ECG’s efforts have been principally devoted to designing and developing a wireless cordless cardio monitor and development of a product intended to detect breast disease. From inception to May 31, 2015, the Company has sustained losses and has an accumulated deficit of $1,701,713. The Company has funded its activities to date primarily through the issuance of a convertible note, contributions from its stockholders and loans from affiliates.

In May 2014, ECG entered into a loan agreement (the “May Loan Agreement”) with an affiliated company, pursuant to which the lender agreed to lend the Company up to CAD $583,000. This loan bears interest at the rate of 12% per annum, compounded monthly, and matures on December 1, 2015. ECG’s shareholders guaranteed ECG’s obligations under the May Loan Agreement with recourse exclusively to the shares they owned of ECG. As a result of the Share Exchange, we have agreed to guaranty ECG’s obligations under the May Loan Agreement and pledge the shares of ECG that we acquired in the Share Exchange to the lender as security for our guaranty. Our guaranty is secured by a lien on all of our assets. In addition, our Controlling Stockholders guaranteed ECG’s obligations under the May Loan Agreement with recourse exclusively to the shares of our common stock that they acquired in the Share Exchange. Under the terms of the May Loan Agreement, 50% of the net proceeds we realize from the sale of our capital stock or from borrowings must be used to repay the amounts owned under this Loan. As of May 31, 2015, $531,142 is outstanding under the May Loan Agreement.

Table of Contents 15

We are required to pay Life Medical royalties of 5% on net sales, as defined in the License Agreement, and minimum annual royalties of $100,000 in 2015 and $200,000 each year thereafter. In addition, we entered into release agreements (the “Releases”) with certain creditors (the “Life Medical Creditors”) of Life Medical which held judgments against Life Medical in the aggregate amount of approximately $501,000. Pursuant to the Release Agreements, we agreed to pay the Life Medical Creditors an aggregate of $501,000, of which $125,000 was to be paid in cash and the balance was to be satisfied by the issuance of shares of our common stock valued at $376,064.05, with the number of shares of common stock to be determined by dividing 376,064.05 by the volume weighted average price (“VWAP”) of our common stock as reported by Bloomberg for the five (5) consecutive trading days ending on the day before the 15th calendar day after consummation of the Share Exchange. On January 6, 2015, we issued 2,827,548 shares of our common stock in satisfaction of this obligation. The recipients of shares valued at $70,000 are also to be paid in cash or shares of common stock, at our option, an amount equal to the excess, if any, of $70,000 over the value of such shares as of December 12, 2015. The License Agreement recognizes that in order to protect our interests, we may have to spend monies dealing with creditors of and other claimants against Life Medical. Although we have no obligation to consummate arrangements with such creditors, we may reduce any amounts we pay to Life Medical’s creditors from future amounts payable to Life Medical. We are currently conducting due diligence for the product, the strength of underlying patents, the status of required regulatory approvals and how this product can most efficiently be manufactured.

In connection with the License Agreement with Life Medical, in October 2014 we borrowed CAD $79,106 (the “October Loan”) from an Ontario corporation owned in equal thirds by John Bentivoglio, Nicholas Bozza and Frank Sgro (the “Lender”), all of whom are affiliates of the Company. This loan bears interest at the rate of 12% per annum, compounded monthly and matures on December 1, 2015. Our obligations under this Loan are secured by a lien on all of our assets as well as pledge of the stock we own in our wholly owned subsidiary which entered into the License Agreement.

As of May 31, 2015, we owed related parties approximately $591,239.

We do not have substantial commitments for capital expenditures. However, we will require financing to complete the development of our cardiac monitor, to arrange for the development of manufacturing facilities or arrangements for both of our products and the working capital to support distribution efforts when our products are ready for sale. If we fail to arrange for such financing in the future, we will not be able to complete the development of our cardiac monitor or execute our business plan until we can obtain adequate financing, which we may not be successful in accomplishing. We may not be able to obtain financing in sufficient amounts or on acceptable terms when needed, which will adversely affect our prospects. We will need to raise the financing necessary to meet our anticipated cash requirements for the foreseeable future.

OFF BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangements, financings, or other relationships with consolidated entities or other persons, also known as “special purpose entities”.

CRITICAL ACCOUNTING POLICIES

Our significant accounting policies are more fully described in Note 2 to the Financial Statements provided in Part I, Item 1 of this report. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosures of contingent assets and liabilities. Actual results could differ from those estimates under different assumptions or conditions.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

As a smaller reporting company, this item is not applicable to us.

Table of Contents 16

ITEM 4. CONTROLS AND PROCEDURES

a) Disclosure Controls and Procedures

We maintain "disclosure controls and procedures," as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, management recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Additionally, in designing disclosure controls and procedures, our management was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

At the end of the period covered by this report we carried out an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, John Bentivoglio, of the effectiveness of the design and operation of our disclosure controls and procedures. This evaluation included an evaluation of our financial controls. Since our Chief Executive Officer also serves as our Chief Financial Officer and we do not have financial and accounting personnel thoroughly familiar with U.S. GAAP and U.S. securities laws and regulations, we have a deficiency in our financial controls. This deficiency in our financial controls and procedures constitutes a deficiency in our disclosure controls and procedures in that our disclosure controls and procedures were not effective to ensure that information required to be disclosed by us in our periodic reports is recorded, processed, summarized and reported, within the time periods specified for each report and that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. This deficiency will not be considered remediated until we hire accounting personnel with the requisite knowledge and experience concerning U.S. GAAP and the U.S. securities laws.

b) Changes in Internal Control over Financial Reporting

There were no changes in the Company's internal control over financial reporting that occurred during the last fiscal quarter ended May 31, 2015, that materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

Table of Contents 17

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, we may be involved in various legal proceedings in the ordinary course of business. We do not believe that any settlement or judgment regarding current or potential future legal proceedings will have a material effect on our financial position.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS FROM SALES OF REGISTERED SECURITIES

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Exhibits

31.1 Sec. 302 Certification of CEO/CFO

32.1 Sec. 906 Certification of CEO/CFO

Table of Contents 18

SIGNATURES

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.

	Event Cardio Group Inc.
Dated: July 15, 2015	By:	/s/ John Bentivoglio
	Name: Title:	John Bentivoglio Chief Executive Officer and Acting Chief Financial Officer (Principal Executive Officer and Principal Accounting Officer) Director

Table of Contents 19

EX-32.1

EX-32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Interim Report of Event Cardio Group Inc. (the "Registrant") on Form 10-Q for the interim period ended May 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, John Bentivoglio, Chief Executive Officer acting Chief Financial Officer (Principal Executive Officer and Principal Accounting Officer) of the Registrant, certify, in accordance with 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

(1) The Report, to which this certification is attached as Exhibit 32, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant

Date: July 15, 2015

John Bentivoglio

Chief Executive Officer

Acting Chief Financial Officer

(Principal Executive Officer and Principal Accounting Officer)

EX-31.1

EX- 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

AND CHIEF FINANCIAL OFFICER

PURSUANT TO RULE 13a-14(a) UNDER THE EXCHANGE ACT

I, John Bentivoglio, Chief Executive Officer Acting Chief Financial Officer (Principal Executive Officer and Principal Accounting Officer) of the registrant, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Event Cardio Group Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15d-15(f) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. I have disclosed, based on my most recent evaluation of internal controls over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: July 15, 2015

John Bentivoglio

Chief Executive Officer

Acting Chief Financial Officer

(Principal Executive Officer and Principal Accounting Officer)

XML

5. DUE TO RELATED PARTIES (Details Narrative) - USD ($)	May. 31, 2015	Aug. 31, 2014
Related Party Transactions [Abstract]
Due to Related Parties	$ 60,097	$ 74,423

XML

3. PROPERTY & EQUIPMENT

9 Months Ended

May. 31, 2015

Property, Plant and Equipment [Abstract]

3. PROPERTY & EQUIPMENT

3. PROPERTY & EQUIPMENT

Property and equipment consists of the following as of May 31, 2015 and August 31, 2014:

					May 31, 2015		August 31, 2014
	Cost		Accumulated Depreciation		Net Book Value		Net Book Value
Computer equipment	$	3,866	$	2,256	$	1,610	$	2,960
Machinery and equipment		150,000		—		150,000		—
	$	153,866	$	2,256	$	151,610	$	2,960

The machinery and equipment has not been depreciated as it is still under development.

XML

9. STOCKHOLDERS' DEFICIT (Details Narrative) - USD ($)	3 Months Ended	9 Months Ended
	May. 31, 2015	May. 31, 2015	May. 31, 2014	Feb. 28, 2015
Equity [Abstract]
Issued as settlement of payables pursuant to license agreement, Shares		2,827,548
Issued as settlement of payables pursuant to license agreement, Value		$ 376,064
Sale of Stock, Shares	250,000	700,000
Sale of Stock, Proceeds		$ 100,000
Fair Value, Warrants Issued	$ 19,820
Warrants Issued	25,000
Risk Free Interest rate	54.00%
Expected Life	1 year
Price Validity	288.00%
Dividend Yield
Issuance of common stock for services, Shares		4,300,000
Issuance of common stock for services, Value		$ 1,189,000
Issuance of common stock for cash, Shares		1,750,000
Issuance of common stock for cash, Value		$ 197,000
Share Purchase Warrants Issued and Outstanding				250,000
Maximum Number of Shares Held under Equity Incentive Plan		1,000,000

XML

8. BUSINESS COMBINATION (Details Narrative) - 9 months ended May. 31, 2015 - shares	Total
Business Combinations [Abstract]
Shares Issued in Business Combination	79,500,000
Voting Control Percentage	93.60%

XML

10. RELATED PARTY (Details Narrative) - USD ($)	9 Months Ended
	May. 31, 2015	May. 31, 2014
Research and Development Expense	$ 334,944
2419596 Ontario Inc
Ownership Percentage	34.00%

XML

11. COMMITMENT (Details Narrative)	9 Months Ended
	May. 31, 2015 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Service Agreement Commitment, Monthly	$ 5,000

XML

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

May. 31, 2015

Accounting Policies [Abstract]

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

In preparing these financial statements in conformity with GAAP, management is required to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting years. Actual results could differ from those estimates.

Fair Value Measurements

ASC 820, “Fair Value Measurements”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2, inputs other than level one that are either directly or indirectly observable such as quoted prices for identical or similar assets or liabilities on markets that are not active; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company had no assets or liabilities required to be recorded at fair value on a recurring basis as of May 31, 2015 or August 31, 2014.

Share Based Compensation

The Company applies ASC 718 Share-Based Compensation and ASC 505 Equity to account for service provider share-based payments. In accordance with ASC 718 and ASC 505, the Company determines whether a share based payment should be classified and accounted for as a liability award or equity award.

All grants of share-based payments to service providers are classified as equity awards and are recognized in the financial statements over the period in which the services are received based on the fair value determined as of the measurement date.

Cash and Cash Equivalents

The Company considers all highly-liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of May 31, 2015 or August 31, 2014.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions.

Income Taxes

Under ASC 740, "Income Taxes", deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized.

In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, the Company has established a full valuation allowance against all of the deferred tax assets for every period because it is more likely than not that all of the deferred tax assets will not be realized.

The Company files income tax returns in Canada and the United States with varying statutes of limitations. The Company's policy is to recognize interest expense and penalties related to income tax matters as a component of our provision for income taxes. There were no accrued interest and penalties associated with uncertain tax positions as of May 31, 2015.

Foreign Currency Translation

The Company's reporting and functional currency is the U.S. dollar. The Company's Canadian operation's functional currency is the Canadian dollar. The Company's U.S. subsidiary's functional currency is the U.S. dollar.

Transactions originating in Canadian dollars are translated to the functional currency of the US dollar as follows: using year end rates of exchange for financial assets and liabilities, average rates of exchange for the period of transactions for revenues and expenses and historical rates for property and equipment and equity.

The financial statements of the Company's Canadian operations are translated from the functional currency of the Canadian dollar into the reporting currency of the United States dollar in accordance with ASC 830, Foreign Currency Matters, using year end rates of exchange for assets and liabilities, average rates of exchange for the period for revenues and expenses and historical rates for equity.

Translation adjustments resulting from the process of translating the functional currency of Canadian dollar Canadian operation's financial statements into the reporting currency of U.S. dollar financial statements are included in determining comprehensive income. As of May 31, 2015 and August 31, 2014, the cumulative translation adjustment of $67,826 and $4,999 respectively was classified as an item in accumulated other comprehensive income in the stockholders' deficit section of the balance sheet. For the period ended May 31, 2015 and May 31, 2014, the foreign currency translation adjustment to accumulated other comprehensive income was $62,827 and $nil respectively.

Comprehensive Loss

Comprehensive loss is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, Accounting Standards Codification (ASC) 200, Comprehensive Income, requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. For the year presented, the Company's comprehensive loss includes net loss and foreign currency translation adjustments and is presented in the statement of comprehensive loss.

Property and Equipment

Property and equipment consists of computer equipment and machinery and equipment and are stated at cost. Computer equipment is depreciated using the straight-line method over the estimated service life of three years. The machinery and equipment is not yet being depreciated as it is still under development. Maintenance and repairs are expensed as incurred and improvements are capitalized. Gains or losses on the disposition of property and equipment are recorded upon disposal.

Research and Development Expenses

All research and development costs are expensed as incurred.

Intangible Asset

License agreement is carried at cost, net of any impairment charges.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset.

If the carrying amount of an asset exceeds its undiscounted estimated future cash flows, an impairment review is performed. An impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet. For the periods ended May 31, 2015 and August 31, 2014 there was an impairment charge of $nil and $nil, respectively with respect to license agreement.

Convertible Instruments

The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815 “Derivatives and Hedging Activities”. Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

The Company accounts for convertible instruments (when we have determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: To record when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.

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Balance Sheets (Unaudited) - USD ($)	May. 31, 2015	Aug. 31, 2014
Current Assets
Cash	$ 34,617	$ 86,617
Prepaid expenses	879,395
Total Current Assets	914,012	$ 86,617
Property and Equipment, net	151,610	2,960
Financing Costs, net	38,235	$ 40,097
Intangible Asset	501,064
TOTAL ASSETS	1,604,921	$ 129,674
Current Liabilities
Accounts payable	274,122	56,197
Due to related parties	60,097	$ 74,423
Notes payable - related parties	531,142
Total Current Liabilities	865,361	$ 130,620
Convertible Notes Payable	$ 525,000
Notes Payable - Related Parties		$ 384,978
TOTAL LIABILITIES	$ 1,390,361	$ 515,598
Stockholders' Equity (Deficit)
Preferred stock, $0.001 par value; 10,000,000 shares authorized, nil shares issued and outstanding
Common stock,190,000,000 shares authorized at $0.001 par value, 79,500,000 common shares issued and outstanding at August 31, 2014 and 104,510,321 at May 31, 2015	$ 104,510	$ 79,500
Additional paid in capital	1,743,937
Accumulated other comprehensive income	67,826	$ 4,999
Accumulated deficit	(1,701,713)	(457,483)
Total Event Cardio Group Inc. stockholders' equity (deficiency)	$ 214,560	(372,984)
Non-controlling interest		(12,940)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	$ 214,560	(385,924)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 1,604,921	$ 129,674

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Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	May. 31, 2015	May. 31, 2014
Cash Flows from Operating Activities
Net loss	$ (1,224,407)	$ (133,003)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of prepaid expenses	212,579
Depreciation of property and equipment	1,016
Amortization of financing costs	22,741
Professional fees paid through common share issuance	113,125
Changes in assets and liabilities:
Prepaid expenses	(16,099)	$ (306,667)
Accounts payable	217,925	12,383
Net cash used in operating activities	(673,120)	$ (427,287)
Cash Flows from Investing Activities
Purchase of property and equipment	(150,000)
Purchase of intangible asset	(125,000)
Net cash used in investing activities	(275,000)
Cash Flows from Financing Activities
Repayments on due from related parties	(27,566)
Advances on due from related parties	14,434	$ 476
Proceeds from convertible note payable	500,000
Proceeds from long-term debt - related parties	195,822	$ 418,000
Proceeds from issuance of common shares	197,000
Net cash provided by financing activities	879,690	$ 418,476
Effect of exchange rate on cash	16,430
Decrease in Cash	(52,000)	$ (8,811)
Cash, beginning of period	86,617	11,481
Cash, end of period	$ 34,617	$ 2,670

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	May. 31, 2015	Aug. 31, 2014	May. 31, 2014
Accounting Policies [Abstract]
Cumulative Translation Adjustment	$ 67,826	$ 4,999
Foreign Currency Translation Adjustment to Accumulated other Comprehensive Income	$ 62,827
Impairment of Long-Lived Assets

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4. INTANGIBLE ASSET (Details Narrative) - USD ($)	9 Months Ended
	May. 31, 2016	May. 31, 2015
Annual Minimum Royalties	$ 200,000	$ 100,000
Loss in Settlement		501,064
Common Stock [Member]
Loss in Settlement		376,064
Cash Distribution [Member]
Loss in Settlement		$ 125,000

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1. OVERVIEW

9 Months Ended

May. 31, 2015

Accounting Policies [Abstract]

1. OVERVIEW

1. OVERVIEW

Description of Business

Sunrise Holdings Limited was incorporated on October 26, 2005 under the laws of Nevada. It changed its name to Event Cardio Group Inc. (the "Company") on November 7, 2014. The Company is developing a cardiac monitoring device based on a wireless and leadless advance cardiac monitor. Upon completion of the development the device will collect medical data and transmit it to physicians for diagnostic evaluation. The Company also has a license agreement to distribute a patented product in the use of breast disease detection.

The Company has elected to adopt early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements and does not present or disclose inception-to-date information and other remaining disclosure requirements of Topic 915.

Going Concern

As shown in the accompanying financial statements, the Company has not generated any revenue since inception, has incurred losses, and has an accumulated deficit of $1,701,713 as of May 31, 2015. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations, which it has not been able to accomplish to date, and/or obtain additional financing from its stockholders and/or other third parties.

These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next fiscal year. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, successfully locating and negotiating with other business entities for potential acquisitions and/or acquiring new clients to generate revenues. There is no assurance that the Company will ever be profitable. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

Basis of Presentation

The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of May 31, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the nine months ended May 31, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the form 8-K/A filed with the SEC on November 26, 2014. 

These financial statements contain the accounts of the Company and the accounts of the Company's subsidiaries 2340960 Ontario Inc. and EFIL Sub of ECG Inc. as at May 31, 2015 and August 31, 2014. Any inter-company accounts and transactions are eliminated.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and are presented in United States Dollars.

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Balance Sheets (Parenthetical) - $ / shares	May. 31, 2015	Aug. 31, 2014
Statement of Financial Position [Abstract]
Preferred Stock Par Value	$ 0.001	$ 0.001
Preferred Stock Shares Authorized	10,000,000	10,000,000
Preferred Stock Shares Issued
Preferred Stock Shares Outstanding
Common Stock Par Value	$ 0.001	$ 0.001
Common Stock Shares Authorized	190,000,000	190,000,000
Common Stock Shares Issued	104,510,321	79,500,000
Common Stock Shares Outstanding	104,510,321	79,500,000

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11. COMMITMENT

9 Months Ended

May. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

11. COMMITMENT

11. COMMITMENT

In exchange for a service agreement, the Company is committed to pay $5,000 per month up to August 5, 2016.

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Document and Entity Information - shares	9 Months Ended
	May. 31, 2015	Jul. 01, 2015
Document And Entity Information
Entity Registrant Name	Event Cardio Group Inc.
Entity Central Index Key	0001394130
Document Type	10-Q
Document Period End Date	May 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		103,097,702
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2014

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1. OVERVIEW (Policies)

9 Months Ended

May. 31, 2015

Accounting Policies [Abstract]

Description of Business

Description of Business

Sunrise Holdings Limited was incorporated on October 26, 2005 under the laws of Nevada. It changed its name to Event Cardio Group Inc. (the "Company") on November 7, 2014. The Company is developing a cardiac monitoring device based on a wireless and leadless advance cardiac monitor. Upon completion of the development the device will collect medical data and transmit it to physicians for diagnostic evaluation. The Company also has a license agreement to distribute a patented product in the use of breast disease detection.

The Company has elected to adopt early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements and does not present or disclose inception-to-date information and other remaining disclosure requirements of Topic 915.

Going Concern

Going Concern

As shown in the accompanying financial statements, the Company has not generated any revenue since inception, has incurred losses, and has an accumulated deficit of $1,701,713 as of May 31, 2015. These factors among others raise substantial doubt about the ability of the Company to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations, which it has not been able to accomplish to date, and/or obtain additional financing from its stockholders and/or other third parties.

These financial statements have been prepared on a going concern basis, which implies the Company will continue to meet its obligations and continue its operations for the next fiscal year. The continuation of the Company as a going concern is dependent upon financial support from its stockholders, the ability of the Company to obtain necessary equity financing to continue operations, successfully locating and negotiating with other business entities for potential acquisitions and/or acquiring new clients to generate revenues. There is no assurance that the Company will ever be profitable. These financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern.

Basis of Presentation

Basis of Presentation

The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of May 31, 2015 and the results of operations and cash flows for the periods presented. The results of operations for the nine months ended May 31, 2015 are not necessarily indicative of the operating results for the full fiscal year or any future period. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the form 8-K/A filed with the SEC on November 26, 2014. 

These financial statements contain the accounts of the Company and the accounts of the Company's subsidiaries 2340960 Ontario Inc. and EFIL Sub of ECG Inc. as at May 31, 2015 and August 31, 2014. Any inter-company accounts and transactions are eliminated.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America and are presented in United States Dollars.

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Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2015	May. 31, 2014
Income Statement [Abstract]
Revenue
Operating Expenses
General and administrative	$ 387,444	$ 121,629	$ 708,330	$ 133,003
Research and development	241,660		456,759
Total Operating Expenses	629,104	$ 121,629	1,165,089	$ 133,003
Loss from Operations	(629,104)	$ (121,629)	(1,165,089)	$ (133,003)
Other Expenses
Interest expense - related parties	15,749		55,818
Interest expense - other	3,500		3,500
Net Loss	(648,353)	$ (121,629)	(1,224,407)	$ (133,003)
Other Comprehensive Income
Foreign currency translation adjustment	(13,694)		62,827
Total Comprehensive Loss	$ (662,047)	$ (121,629)	$ (1,161,580)	$ (133,003)
Loss per Share - Basic and Diluted	$ (0.007)	$ (0.002)	$ (0.013)	$ (0.002)
Weighted Average Shares - Basic and Diluted	98,720,647	79,500,000	92,065,904	79,500,000

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6. NOTES PAYABLE - RELATED PARTIES

9 Months Ended

May. 31, 2015

Payables and Accruals [Abstract]

6. NOTES PAYABLE - RELATED PARTIES

6. NOTES PAYABLE - RELATED PARTIES

As at May 31, 2015, the Company has a promissory note outstanding to 2399371 Ontario Inc., a company owned by an affiliate, for $583,000 Canadian ($467,683 US$) bearing interest at 12% per annum, payable on December 1, 2015. In connection with the entry into the License Agreement described in Note 4, the Company borrowed CAD $79,106 ($63,459 US$) to be repaid on December 1, 2015, together with interest at the rate of 12% per annum from 9058583 Canada Inc., a corporation owned by affiliates. In conjunction with this loan, the Company entered into a Sublicense agreement with 9508583 Canada Inc. whereby 9508583 Canada Inc. will be granted the exclusive rights to distribute the BreastCare DTS™ product in Canada with royalties payable at the rate of 5.5% of net sales, as to be defined in the Sublicense Agreement, to the Company.

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5. DUE TO RELATED PARTIES

9 Months Ended

May. 31, 2015

Related Party Transactions [Abstract]

5. DUE TO RELATED PARTIES

5. DUE TO RELATED PARTIES

The amounts due to related parties are non-interest bearing, with no fixed terms of repayment, are payable on demand and are unsecured. As of May 31, 2015 and August 31, 2014, the amounts of due to related parties are $60,097 and $74,423 respectively.

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3. PROPERTY & EQUIPMENT - Property & Equipment (Details) - USD ($)	May. 31, 2015	Aug. 31, 2014
Property Plant Equipment	$ 153,866
Accumulated depreciation	2,256
Property Plant Equipment, Net	151,610	$ 2,960
Computer Equipment
Property Plant Equipment	3,866
Accumulated depreciation	2,256
Property Plant Equipment, Net	1,610	$ 2,960
Machinery and Equipment
Property Plant Equipment	$ 150,000
Accumulated depreciation
Property Plant Equipment, Net	$ 150,000

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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

May. 31, 2015

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

In preparing these financial statements in conformity with GAAP, management is required to make estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting years. Actual results could differ from those estimates.

Fair Value Measurements

Fair Value Measurements

ASC 820, “Fair Value Measurements”, requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2, inputs other than level one that are either directly or indirectly observable such as quoted prices for identical or similar assets or liabilities on markets that are not active; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The Company had no assets or liabilities required to be recorded at fair value on a recurring basis as of May 31, 2015 or August 31, 2014.

Share Based Compensation

Share Based Compensation

The Company applies ASC 718 Share-Based Compensation and ASC 505 Equity to account for service provider share-based payments. In accordance with ASC 718 and ASC 505, the Company determines whether a share based payment should be classified and accounted for as a liability award or equity award.

All grants of share-based payments to service providers are classified as equity awards and are recognized in the financial statements over the period in which the services are received based on the fair value determined as of the measurement date.

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly-liquid investments with maturities of three months or less when purchased to be cash equivalents. The Company had no cash equivalents as of May 31, 2015 or August 31, 2014.

Concentration of Credit Risk

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions.

Income Taxes

Income Taxes

Under ASC 740, "Income Taxes", deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized.

In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, the Company has established a full valuation allowance against all of the deferred tax assets for every period because it is more likely than not that all of the deferred tax assets will not be realized.

The Company files income tax returns in Canada and the United States with varying statutes of limitations. The Company's policy is to recognize interest expense and penalties related to income tax matters as a component of our provision for income taxes. There were no accrued interest and penalties associated with uncertain tax positions as of May 31, 2015.

Foreign Currency Translation

Foreign Currency Translation

The Company's reporting and functional currency is the U.S. dollar. The Company's Canadian operation's functional currency is the Canadian dollar. The Company's U.S. subsidiary's functional currency is the U.S. dollar.

Transactions originating in Canadian dollars are translated to the functional currency of the US dollar as follows: using year end rates of exchange for financial assets and liabilities, average rates of exchange for the period of transactions for revenues and expenses and historical rates for property and equipment and equity.

The financial statements of the Company's Canadian operations are translated from the functional currency of the Canadian dollar into the reporting currency of the United States dollar in accordance with ASC 830, Foreign Currency Matters, using year end rates of exchange for assets and liabilities, average rates of exchange for the period for revenues and expenses and historical rates for equity.

Translation adjustments resulting from the process of translating the functional currency of Canadian dollar Canadian operation's financial statements into the reporting currency of U.S. dollar financial statements are included in determining comprehensive income. As of May 31, 2015 and August 31, 2014, the cumulative translation adjustment of $67,826 and $4,999 respectively was classified as an item in accumulated other comprehensive income in the stockholders' deficit section of the balance sheet. For the period ended May 31, 2015 and May 31, 2014, the foreign currency translation adjustment to accumulated other comprehensive income was $62,827 and $nil respectively.

Comprehensive Loss

Comprehensive Loss

Comprehensive loss is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, Accounting Standards Codification (ASC) 200, Comprehensive Income, requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. For the year presented, the Company's comprehensive loss includes net loss and foreign currency translation adjustments and is presented in the statement of comprehensive loss.

Property and Equipment

Property and Equipment

Property and equipment consists of computer equipment and machinery and equipment and are stated at cost. Computer equipment is depreciated using the straight-line method over the estimated service life of three years. The machinery and equipment is not yet being depreciated as it is still under development. Maintenance and repairs are expensed as incurred and improvements are capitalized. Gains or losses on the disposition of property and equipment are recorded upon disposal.

Research and Development Expenses

Research and Development Expenses

All research and development costs are expensed as incurred.

Intangible Asset

Intangible Asset

License agreement is carried at cost, net of any impairment charges.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset.

If the carrying amount of an asset exceeds its undiscounted estimated future cash flows, an impairment review is performed. An impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet. For the periods ended May 31, 2015 and August 31, 2014 there was an impairment charge of $nil and $nil, respectively with respect to license agreement.

Convertible Instruments

Convertible Instruments

The Company evaluates and accounts for conversion options embedded in convertible instruments in accordance with ASC 815 “Derivatives and Hedging Activities”. Applicable GAAP requires companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments according to certain criteria. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under other GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument.

The Company accounts for convertible instruments (when we have determined that the embedded conversion options should not be bifurcated from their host instruments) as follows: To record when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their stated date of redemption.

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9. STOCKHOLDERS' DEFICIT

9 Months Ended

May. 31, 2015

Equity [Abstract]

9. STOCKHOLDERS' DEFICIT

9. STOCKHOLDERS' DEFICIT

Common Shares and Common Share Purchase Warrant Issuance

On November 9, 2014, the Company issued 700,000 common shares for proceeds of $100,000.

On January 6, 2015, the Company issued 2,827,548 common shares valued at $376,064 in satisfaction of an obligation related to a license agreement as described in Note 4. The common shares were valued using the volume weighted average price of the company's common stock as reported by Bloomberg for the five consecutive trading days ending on the day before the 15th calendar day after consummation of this share exchange.

On January 30, 2015, the company issued 250,000 common shares and 250,000 common share purchase warrants for total proceeds of $25,000.

On February 2, 2015, the Company issued 800,000 common shares for proceeds of $72,000.

On February 2, 2015, the Company issued 4,300,000 common shares in exchange for service agreements for a fair value of $387,000, based on the market price of $0.09 per common share as of the measurement date.

On March 4, 2015, the Company issued 2,900,000 common shares in exchange for service agreements for a fair value of $290,000, based on the market price of $0.10 per common share as of the measurement date.

On March 23, 2015, the Company issued 100,000 common shares in exchange for a service agreement for a fair value of $12,000, based on the market price of $0.12 per common share as of the measurement date.

On May 22, 2015, the Company issued 6,250,000 common shares in exchange for service agreements for a fair value of $500,000, based on the market price of $0.08 per common share as of the measurement date.

Common Share Purchase Warrants

As of May 31, 2015 there are 250,000 common share purchase warrants issued and outstanding. Each warrant allows the holder to purchase 1 common share of the company at an exercise price of $0.20 per warrant up to the expiration date of January 31, 2016. 

Commitment to Issue Shares

In exchange for a service agreement, the Company is required to issue 250,000 shares of restricted common stock on July 5, 2015; October 5, 2015; January 5, 2016; April 5, 2016 and July 5, 2016.

Equity Incentive Plan

The Company has created the Event Cardio Group Inc. 2015 Equity Incentive Plan ("equity incentive plan") which allows for the granting of incentive stock options to employees of the company, a parent or a subsidiary and the granting of awards other than incentive stock options to employees, directors and consultants. The maximum number of common shares which may be issued pursuant to the equity incentive plan at May 31, 2015 and May 31, 2014 is 10,000,000 and nil respectively. No incentive stock options or awards other than incentive stock options have been granted as of May 31, 2015.

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7. CONVERTIBLE NOTES PAYABLE

9 Months Ended

May. 31, 2015

Debt Disclosure [Abstract]

7. CONVERTIBLE NOTES PAYABLE

7. CONVERTIBLE NOTES PAYABLE

The company is offering, pursuant to a Regulation S Subscription Agreement and Investment Representation dated February 3, 2015, up to $2,000,000 of 8% convertible notes with interest payable annually on January 31st. The holder upon written notice to the company may elect to have accrued but unpaid interest added to the principal amount of the note in lieu of payment of interest. The principal amount of the note is payable on January 31, 2018. The note, or any part thereof and any unpaid interest is convertible into common shares of the company at any time at the option of the holder at a conversion price of $0.15 per common share. The note may be prepaid at any time in full by the company upon ten days notice to the holder. As at May 31, 2015, $525,000 of the convertible notes payable have been issued as follows.

Medpac Asia Pacific PTY Ltd. of Austraila ("Medpac") for $500,000. In addition to the terms of the convertible note payable described above, if the note is prepaid by the ompany at any time prior to the maturity date, if the volume weighted average price of the common shares of the company for the ten trading days preceding the early repayment date is less than $0.15 per common share, then Medpac shall receive a number of common share purchase warrants sufficient to purchase up to 1% of the then outstanding number of common shares of the Company. Such common share purchase warrants once issued would be exercisable for a period of three years at an exercise price of $0.15 per common share, but may be exercised on a cashless basis in accordance with a specified formula.

Main Street Capital Pty. Ltd. has received, for its services as part of the Medpac transaction noted above, a convertible note payable of $25,000 having the terms and conditions identical to Medpac's convertible note payable described above, except that the number of common share purchase warrants potentially issuable upon early payment of the note would be sufficient to only purchase up to 0.0005% of the then outstanding common shares of the company.

In conjunction with Medpac's investment noted above, the Company has agreed to enter into an exclusive Distribution Agreement with Medpac for the Company's BreastCare DTS TM and Now Cardio devices in Australia, New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Laos, Cambodia Myanmar and Bangladesh. The Distribution Agreement will have an initial term of five years and can be renewed for an additional five years provided that agreed upon sales targets are met. If the company does not establish a manufacturing facility for its BreastCare DTS™ device in Southeast Asia within eighteen months of this agreement, Medpac and the company will form a joint venture to establish such a facility in the Philippines.

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8. BUSINESS COMBINATION

9 Months Ended

May. 31, 2015

Business Combinations [Abstract]

8. BUSINESS COMBINATION

8. BUSINESS COMBINATION

On September 8, 2014, the Company entered into a share exchange agreement with 2340960 Ontario Inc.'s shareholders whereby the Company acquired all of the issued and outstanding common shares of 2340960 Ontario Inc. in exchange for 79,500,000 common shares of the Company. Upon completion of this transaction, the shareholders of 2340960 Ontario Inc. held approximately 93.6% of voting control of the Company. This transaction, has been accounted for as a reverse merger with 2340960 Ontario Inc. being the acquirer and the Company being the acquiree. As part of this transaction, the Company has changed its fiscal year end from September 30th to August 31st.

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10. RELATED PARTY

9 Months Ended

May. 31, 2015

Related Party Transactions [Abstract]

10. RELATED PARTY

10. RELATED PARTY

The Company is related to Contex International Technologies (Canada) Inc. ("Contex") through the fact that affiliates of the Company hold a 34% interest in 2419596 Ontario Inc, which owns Contex.

The Company has entered into a service agreement with Contex, whereby Contex will provide services related to the design and development of a wireless and leadless ECG cardiac monitor. The agreement runs for a term of one year to May 22, 2016 and will automatically renew for subsequent terms of one year unless notice of termination is given by either party in writing.

For the nine months ended May 31, 2015 and May 31, 2014, $334,944 and $nil respectively, have been incurred related to this agreement and have been expensed in research and development expense.

See Note 6 regarding notes payable - related parties.

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1. OVERVIEW (Details Narrative) - USD ($)	May. 31, 2015	Aug. 31, 2014
Accounting Policies [Abstract]
Accumulated Deficit	$ (1,701,713)	$ (457,483)

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6. NOTES PAYABLE - RELATED PARTIES (Details Narrative) - May. 31, 2015 - Canada, Dollars - USD ($)	Total
2399371 Ontario Inc.
Promissory Note Balance	$ 583,000
Note Interest Rate	12.00%
9058583 Canada Inc.
Promissory Note Balance	$ 79,106
Note Interest Rate	12.00%

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Shareholders Equity (Unaudited) - 9 months ended May. 31, 2015 - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Noncontrolling Interest	Total
Beginning Balance, Shares at Aug. 31, 2014	79,500,000
Beginning Balance, Value at Aug. 31, 2014	$ 79,500		$ 4,999	$ (457,483)	$ (12,940)	$ (385,924)
Effect of reverse merger, Shares	6,882,773
Effect of reverse merger, Value	$ 6,883			$ (19,823)	$ 12,940
Issued for cash, Shares	1,750,000
Issued for cash, Value	$ 1,750	$ 195,250				$ 197,000
Issued as settlement of payables pursuant to license agreement payables pursuant to license agreement, Shares	2,827,548
Issued as settlement of payables pursuant to license agreement payables pursuant to license agreement, Value	$ 2,827	373,237				$ 376,064
Issued for services, Shares	13,550,000					4,300,000
Issued for services, Value	$ 13,550	$ 1,175,450				$ 1,189,000
Net comprehensive income (loss)			$ 62,827	$ (1,224,407)		(1,161,580)
Ending Balance, Shares at May. 31, 2015	104,510,321
Ending Balance, Value at May. 31, 2015	$ 104,510	$ 1,743,937	$ 67,826	$ (1,701,713)		$ 214,560

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4. INTANGIBLE ASSET

9 Months Ended

May. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

4. INTANGIBLE ASSET

4. INTANGIBLE ASSET

On October 24, 2014, the Company entered into a License Agreement with Life Medical Technologies, Inc. with respect to Life Medical’s “BreastCare DTS™” product and certain other technologies. The License Agreement grants the Company the exclusive right to distribute the BreastCare DTS™ in the United States, Canada and certain countries in Asia, including China. The Agreement calls for royalties of 5% on net sales, as defined in the License Agreement, and requires minimum annual royalties of $100,000 in 2015 and $200,000 each year thereafter.

As part of entering into the License Agreement, the Company entered into release agreements with certain creditors of Life Medical Technologies, Inc. which held judgments against Life Medical in the aggregate amount of approximately $501,000. Pursuant to the Release Agreements, the Company agreed to pay those Creditors an aggregate of $501,064, satisfied through the issuance of common shares, as described in Note 9, valued at $376,064 and payment of $125,000 cash.

The product is currently under development and as such the costs associated with the license agreement are not yet being amortized.

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7. CONVERTIBLE NOTES PAYABLE (Details Narrative)	9 Months Ended
	May. 31, 2015 USD ($)
Regulation S Subscription Agreement Offering	$ 2,000,000
Regulation S Subscription Agreement, Issued	525,000
Medpac Asia Pacific PTY Ltd. of Austrailia
Regulation S Subscription Agreement, Issued	500,000
Main Street Capital Pty. Ltd.
Regulation S Subscription Agreement, Issued	$ 25,000

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3. PROPERTY & EQUIPMENT (Tables)

9 Months Ended

May. 31, 2015

Property, Plant and Equipment [Abstract]

Property & Equipment

					May 31, 2015		August 31, 2014
	Cost		Accumulated Depreciation		Net Book Value		Net Book Value
Computer equipment	$	3,866	$	2,256	$	1,610	$	2,960
Machinery and equipment		150,000		—		150,000		—
	$	153,866	$	2,256	$	151,610	$	2,960