We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Healthier Choices Management Corporation (PK) | USOTC:HCMC | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.000099 | 9,900.00% | 0.0001 | 0.000001 | 0.0001 | 0.0001 | 0.000001 | 0.000001 | 110,033,910 | 20:59:27 |
Delaware
|
84-1070932
|
|
(State or other jurisdiction of
|
(I.R.S. Employer
|
|
incorporation or organization)
|
Identification No.)
|
|
3800 North 28Th Way
|
||
Hollywood, FL
|
33020
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Large accelerated filer
|
☐
|
Accelerated filer
|
☐
|
Non-accelerated filer
|
☒
|
Smaller reporting company
|
☒
|
Emerging growth company
|
☐
|
Title of each class
|
Trading Symbol
|
Name of each exchange on which registered
|
||
Common Stock, par value $0.0001 per share
|
HCMC
|
OTC Pink Marketplace
|
|
PAGE
|
1
|
|
1
|
|
1
|
|
2
|
|
3
|
|
5
|
|
6
|
|
12
|
|
17
|
|
17
|
|
18
|
|
18
|
|
18
|
|
18
|
|
18
|
|
18
|
|
18
|
|
18
|
|
19
|
|
Convertible
Preferred Stock
|
Common Stock
|
Additional
Paid-In
|
Accumulated
|
|||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Total
|
||||||||||||||
Balance – July 1, 2021
|
5,000
|
$
|
5,000,000
|
333,179,132,384
|
$
|
33,317,913
|
$
|
26,546,415
|
$
|
(32,875,464)
|
$
|
31,988,864
|
||||||||
Stock options exercised
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||
Series D Convertible Preferred Stock exercised
|
(4,200)
|
(4,200,000)
|
6,562,500,000
|
656,250
|
3,543,750
|
-
|
-
|
|||||||||||||
Issuance of common stock in connection with the Rights Offering, net of offering costs
|
-
|
-
|
-
|
-
|
765,659
|
-
|
765,659
|
|||||||||||||
Net Income
|
-
|
-
|
-
|
-
|
-
|
(1,049,881)
|
(1,049,881)
|
|||||||||||||
Balance – September 30, 2021
|
800
|
$
|
800,000
|
339,741,632,384
|
$
|
33,974,163
|
$
|
30,855,824
|
$
|
(33,925,345)
|
$
|
31,704,642
|
Convertible
Preferred Stock
|
Common Stock
|
Additional
Paid-In
|
Accumulated
|
|||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Total
|
||||||||||||||
Balance – July 1, 2020
|
20,150
|
$
|
20,150,116
|
87,558,296,598
|
$
|
8,755,829
|
$
|
5,706,544
|
$
|
(30,146,453)
|
$
|
4,466,036
|
||||||||
Issuance of common stock in connection with cashless exercise of Series A warrants
|
-
|
-
|
17,552,551,418
|
1,755,255
|
(1,755,255)
|
-
|
-
|
|||||||||||||
Stock-based compensation expense
|
-
|
-
|
-
|
-
|
1,875
|
-
|
1,875
|
|||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
(1,300,965)
|
(1,300,965)
|
|||||||||||||
Balance – September 30, 2020
|
20,150
|
$
|
20,150,116
|
105,110,848,016
|
$
|
10,511,084
|
$
|
3,953,164
|
$
|
(31,447,418)
|
$
|
3,166,946
|
Convertible
Preferred Stock
|
Common Stock
|
Additional
Paid-In
|
Accumulated
|
|||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Total
|
||||||||||||||
Balance – January 1, 2021
|
16,277
|
$
|
16,277,116
|
143,840,848,017
|
$
|
14,384,084
|
$
|
3,955,039
|
$
|
(32,358,871)
|
$
|
2,257,368
|
||||||||
Series C Convertible Preferred Stock exercised
|
(16,277)
|
(16,277,116)
|
162,771,153,001
|
16,277,116
|
-
|
-
|
-
|
|||||||||||||
Stock options exercised
|
-
|
-
|
2,275,000,000
|
227,500
|
-
|
-
|
227,500
|
|||||||||||||
Issuance of Series D Convertible Preferred stock in connection with the Securities Purchase Agreement
|
5,000
|
5,000,000
|
-
|
-
|
-
|
-
|
5,000,000
|
|||||||||||||
Series D Convertible Preferred Stock exercised
|
(4,200)
|
(4,200,000)
|
6,562,500,000
|
656,250
|
3,543,750
|
-
|
-
|
|||||||||||||
Issuance of common stock
|
-
|
-
|
1,182,831,056
|
118,283
|
1,289,273
|
-
|
1,407,556
|
|||||||||||||
Issuance of common stock in connection with the Rights Offering, net of offering costs
|
-
|
-
|
27,046,800,310
|
2,704,680
|
21,639,637
|
-
|
24,344,317
|
|||||||||||||
Issuance of awarded stock for officers and board member
|
-
|
-
|
2,250,000,000
|
225,000
|
(225,000)
|
-
|
-
|
|||||||||||||
Cancellation of awarded stock for officers and board member
|
-
|
-
|
(6,187,500,000)
|
(618,750)
|
618,750
|
-
|
-
|
|||||||||||||
Stock-based compensation expense
|
-
|
-
|
-
|
-
|
34,375
|
-
|
34,375
|
|||||||||||||
Net loss
|
-
|
-
|
-
|
-
|
-
|
(1,566,474)
|
(1,566,474)
|
|||||||||||||
Balance – September 30, 2021
|
800
|
$
|
800,000
|
339,741,632,384
|
$
|
33,974,163
|
$
|
30,855,824
|
$
|
(33,925,345)
|
$
|
31,704,642
|
Convertible
Preferred Stock
|
Common Stock
|
Additional
Paid-In
|
Accumulated
|
|||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Deficit
|
Total
|
||||||||||||||
Balance – January 1, 2020
|
20,150
|
$
|
20,150,116
|
67,698,494,244
|
$
|
6,769,849
|
$
|
7,618,245
|
$
|
(28,636,479)
|
$
|
5,901,731
|
||||||||
Issuance of common stock in connection with cashless exercise of Series A warrants
|
-
|
-
|
37,412,353,772
|
3,741,235
|
(3,741,235)
|
-
|
-
|
|||||||||||||
Stock-based compensation expense
|
-
|
-
|
-
|
-
|
76,154
|
-
|
76,154
|
|||||||||||||
Net loss
|
-
|
-
|
-
|
(2,810,939)
|
(2,810,939)
|
|||||||||||||||
Balance – September 30, 2020
|
20,150
|
$
|
20,150,116
|
105,110,848,016
|
$
|
10,511,084
|
$
|
3,953,164
|
$
|
(31,447,418)
|
$
|
3,166,946
|
Nine Months Ended September 30,
|
|||||
2021
|
2020
|
||||
OPERATING ACTIVITIES
|
|||||
Net loss
|
$
|
(1,566,474)
|
$
|
(2,810,939)
|
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|||||
Depreciation and amortization
|
379,536
|
424,020
|
|||
Gain on extinguishment of debt
|
(767,930)
|
-
|
|||
Loss (Gain) on investment
|
(10,954)
|
13,714
|
|||
Amortization of right-of-use asset
|
400,334
|
428,740
|
|||
Accrued interest on loan
|
60,809
|
-
|
|||
Stock-based compensation expense
|
34,375
|
76,154
|
|||
Impairment of intangible assets
|
-
|
380,646
|
|||
Changes in operating assets and liabilities:
|
|||||
Accounts receivable
|
(34,465)
|
(20,126)
|
|||
Inventories
|
(194,597)
|
(28,947)
|
|||
Prepaid expenses and vendor deposits
|
(11,779)
|
(58,175)
|
|||
Other assets
|
4,162
|
57,270
|
|||
Accounts payable and accrued expenses
|
11,405
|
264,971
|
|||
Contract liabilities
|
(145)
|
(7,423)
|
|||
Lease liability
|
(348,424)
|
(373,184)
|
|||
NET CASH USED IN OPERATING ACTIVITIES
|
(2,044,147)
|
(1,653,279)
|
|||
INVESTING ACTIVITIES
|
|||||
Collection of note receivable
|
40,831
|
23,767
|
|||
Purchases of property and equipment
|
(53,437)
|
(24,663)
|
|||
Purchases of patent
|
(12,500)
|
(89,415)
|
|||
NET CASH USED IN INVESTING ACTIVITIES
|
(25,106)
|
(90,311)
|
|||
FINANCING ACTIVITIES
|
|||||
Principal payments on loan payable
|
(255,592)
|
(209,941)
|
|||
Principal payment on the line of credit
|
(2,000,000)
|
-
|
|||
Proceeds from rights offering, net of offering costs
|
24,344,317
|
-
|
|||
Proceeds from loan and security agreement
|
-
|
2,540,000
|
|||
Proceeds from preferred stock
|
5,000,000
|
-
|
|||
Proceeds from paycheck protection plan
|
-
|
876,515
|
|||
Proceeds from exercise of stock options
|
227,500
|
-
|
|||
NET CASH PROVIDED BY FINANCING ACTIVITIES
|
27,316,225
|
3,206,574
|
|||
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENT AND RESTRICTED CASH
|
25,246,972
|
1,462,984
|
|||
CASH, CASH EQUIVALENTS AND RESTRICTED CASH— BEGINNING OF PERIOD
|
2,925,475
|
3,525,415
|
|||
CASH, CASH EQUIVALENTS AND RESTRICTED CASH — END OF PERIOD
|
$
|
28,172,447
|
$
|
4,988,399
|
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
|
|||||
Cash paid for interest
|
$
|
36,792
|
$
|
161,876
|
|
NON-CASH INVESTING AND FINANCING ACTIVITIES
|
|||||
Issuance of common stock
|
$
|
1,290,260
|
$
|
-
|
|
September 30, 2021
|
December 31, 2020
|
||||||
Cash and Cash Equivalent
|
$
|
28,172,447
|
$
|
925,475
|
||||
Restricted cash, non-current portion
|
-
|
2,000,000
|
||||||
Total cash, cash equivalents and restricted cash
|
$
|
28,172,447
|
$
|
2,925,475
|
|
Three Months Ended September 30,
|
Nine Months Ended September 30,
|
||||||||||||||
2021
|
2020
|
2021
|
2020
|
|||||||||||||
Vapor
|
$
|
466,181
|
$
|
594,145
|
$
|
1,671,098
|
$
|
1,888,480
|
||||||||
Grocery
|
2,803,327
|
2,753,648
|
8,450,055
|
8,804,397
|
||||||||||||
Total revenue
|
$
|
3,269,508
|
$
|
3,347,793
|
$
|
10,121,153
|
$
|
10,692,877
|
||||||||
Retail Vapor
|
$
|
466,153
|
$
|
594,145
|
$
|
1,671,029
|
$
|
1,888,480
|
||||||||
Retail Grocery
|
2,475,887
|
2,369,942
|
7,438,115
|
7,653,754
|
||||||||||||
Food service/restaurant
|
305,626
|
248,757
|
908,476
|
823,724
|
||||||||||||
Online/eCommerce
|
15,199
|
75,009
|
85,174
|
261,158
|
||||||||||||
Wholesale Grocery
|
6,615
|
59,940
|
18,290
|
65,761
|
||||||||||||
Wholesale Vapor
|
28
|
-
|
69
|
-
|
||||||||||||
Total revenue
|
$
|
3,269,508
|
$
|
3,347,793
|
$
|
10,121,153
|
$
|
10,692,877
|
Description
|
|
Due Date
|
|
Interest Rate
|
|
|
Loan Amount
|
|
|
Proceeds
|
|
|
Remaining Balance
|
|
||||
Promissory Note
|
|
8/31/2022
|
|
|
7.0%
|
|
$
|
268,126
|
|
|
$
|
4,446
|
|
|
$
|
263,680
|
|
September 30, 2021
|
Useful Lives (Years)
|
Gross
Carrying Amount
|
Accumulated
Amortization
|
Net
Carrying Amount
|
||||||||
Trade names
|
8-10 years
|
$
|
923,000
|
$
|
(512,943)
|
$
|
410,057
|
|||||
Customer relationships
|
4-10 years
|
883,000
|
(634,385)
|
248,615
|
||||||||
Patents
|
10 years
|
372,165
|
(112,929)
|
259,236
|
||||||||
Non-compete
|
4 years
|
174,000
|
(121,438)
|
52,562
|
||||||||
Intangible assets, net
|
$
|
2,352,165
|
$
|
(1,381,695)
|
$
|
970,470
|
December 31, 2020
|
Useful Lives (Years)
|
Gross
Carrying Amount
|
Accumulated
Amortization
|
Net
Carrying Amount
|
||||||||
Trade names
|
8-10 years
|
$
|
923,000
|
(441,786)
|
$
|
481,214
|
||||||
Customer relationships
|
4-10 years
|
883,000
|
(475,073)
|
407,927
|
||||||||
Patents
|
10 years
|
359,665
|
(85,641)
|
274,024
|
||||||||
Non-compete
|
4 years
|
174,000
|
(88,813)
|
85,187
|
||||||||
Intangible assets, net
|
$
|
2,339,665
|
$
|
(1,091,313)
|
$
|
1,248,352
|
Years ending December 31,
|
||||
2021 (remaining three months)
|
$
|
95,335
|
||
2022
|
370,956
|
|||
2023
|
132,091
|
|||
2024
|
132,091
|
|||
2025
|
126,591
|
|||
Thereafter
|
113,406
|
|||
Total
|
$
|
970,470
|
|
As of September 30,
|
|||||||
2021
|
2020
|
|||||||
Beginning balance as January 1,
|
$
|
21,262
|
$
|
26,823
|
||||
Issued
|
35,936
|
33,221
|
||||||
Redeemed
|
(35,966
|
)
|
(39,405
|
)
|
||||
Breakage recognized
|
(115
|
)
|
(1,239
|
)
|
||||
Ending balance as of September 30,
|
$
|
21,117
|
$
|
19,400
|
_
|
Due Date
|
Interest Rate
|
September 30, 2021
|
December 31, 2020
|
||||||
Term Loan Credit Agreement
|
December 2023
|
7.00%
|
$
|
547,174
|
$
|
800,924
|
||||
Paycheck Protection Program
|
May 2022
|
1%
|
-
|
882,264
|
||||||
Line of Credit
|
July 2021
|
2.20%
|
-
|
2,000,000
|
||||||
Loan and Security Agreement ("PPE Loan")
|
March 2021
|
5%
|
-
|
1,232,414
|
||||||
Other debt
|
April 2023
|
5.3%
|
4,049
|
5,891
|
||||||
Total debt
|
$
|
551,223
|
4,921,493
|
Three Months Ended September 30,
|
Nine Months Ended September 30,
|
||||||||||
2021
|
2020
|
2021
|
2020
|
||||||||
Stock-based compensation
|
$
|
-
|
$
|
1,875
|
$
|
34,375
|
$
|
76,154
|
|
As of September 30,
|
|||||||
2021
|
2020
|
|||||||
Preferred stock
|
1,250,000,000
|
201,501,000,000
|
||||||
Stock options
|
68,587,000,000
|
68,062,000,000
|
||||||
Warrants
|
-
|
36,460,000,000
|
||||||
Total
|
69,837,000,000
|
306,023,000,000
|
Three Months Ended September 30,
|
2020 to 2021
|
|||||||
2021
|
2020
|
Change $
|
||||||
SALES
|
||||||||
Vapor sales, net
|
$
|
466,181
|
$
|
594,145
|
$
|
(127,964)
|
||
Grocery sales, net
|
2,803,327
|
2,753,648
|
49,679
|
|||||
TOTAL SALES, NET
|
3,269,508
|
3,347,793
|
(78,285)
|
|||||
Cost of sales vapor
|
186,522
|
256,461
|
(69,939)
|
|||||
Cost of sales grocery
|
1,706,597
|
1,729,213
|
(22,616)
|
|||||
GROSS PROFIT
|
1,376,389
|
1,362,119
|
14,270
|
|||||
OPERATING EXPENSES
|
||||||||
Selling, general and administrative
|
2,427,256
|
2,195,275
|
231,981
|
|||||
Impairment of intangible assets
|
-
|
380,646
|
(380,646)
|
|||||
Total operating expenses
|
2,427,256
|
2,575,921
|
(148,665)
|
|||||
LOSS FROM OPERATIONS
|
(1,050,867)
|
(1,213,802)
|
162,935
|
|||||
OTHER INCOME (EXPENSE)
|
||||||||
Loss on investment
|
(557)
|
(2,571)
|
2,014
|
|||||
Interest income (expense), net
|
1,543
|
(84,592)
|
86,135
|
|||||
Total other income (expense), net
|
986
|
(87,163)
|
88,149
|
|||||
NET INCOME (LOSS)
|
$
|
(1,049,881)
|
$
|
(1,300,965)
|
$
|
251,084
|
Nine Months Ended September 30,
|
2021 to 2020
|
|||||||
2021
|
2020
|
Change $
|
||||||
SALES
|
||||||||
Vapor sales, net
|
$
|
1,671,098
|
$
|
1,888,480
|
$
|
(217,382)
|
||
Grocery sales, net
|
8,450,055
|
8,804,397
|
(354,342)
|
|||||
TOTAL SALES, NET
|
10,121,153
|
10,692,877
|
(571,724)
|
|||||
Cost of sales vapor
|
657,171
|
787,998
|
(130,827)
|
|||||
Cost of sales grocery
|
5,133,228
|
5,461,574
|
(328,346)
|
|||||
GROSS PROFIT
|
4,330,754
|
4,443,305
|
(112,551)
|
|||||
OPERATING EXPENSES
|
||||||||
Selling, general and administrative
|
6,599,224
|
6,735,815
|
(136,591)
|
|||||
Impairment of intangible assets
|
-
|
380,646
|
(380,646)
|
|||||
Total operating expenses
|
6,599,224
|
7,116,461
|
(517,237)
|
|||||
LOSS FROM OPERATIONS
|
(2,268,470)
|
(2,673,156)
|
404,686
|
|||||
OTHER INCOME (EXPENSE)
|
||||||||
Gain (loss) on investment
|
10,954
|
(13,714)
|
24,668
|
|||||
Interest expense, net
|
(76,888)
|
(123,969)
|
47,081
|
|||||
Gain on extinguishment of debt, net
|
767,930
|
-
|
767,930
|
|||||
Total other income (expense), net
|
701,996
|
(137,783)
|
839,779
|
|||||
NET LOSS
|
$
|
(1,566,474)
|
$
|
(2,810,939)
|
$
|
1,244,465
|
Nine Months Ended September 30,
|
|||||
2021
|
2020
|
||||
Net cash provided by (used in)
|
|||||
Operating activities
|
$
|
(2,044,147)
|
$
|
(1,653,279)
|
|
Investing activities
|
(25,106)
|
(90,311)
|
|||
Financing activities
|
27,316,225
|
3,206,574
|
|||
$
|
25,246,972
|
$
|
1,462,984
|
September 30, 2021
|
December 31, 2020
|
||||
Cash
|
$
|
28,172,447
|
$
|
925,475
|
|
Total assets
|
$
|
36,614,834
|
$
|
11,874,993
|
|
Percentage of total assets
|
76.94%
|
7.79%
|
● |
Failure to have properly documented and designed disclosure controls and procedures and testing of the operating effectiveness of our internal control over financial reporting
|
● |
Weakness around our purchase orders and inventory write-off procedures
|
● |
Segregation of duties due to lack of personnel
|
● |
Management continues to devote significant efforts toward improvement of effectiveness of control over financial reporting. This includes analyzing non-routine transactions before booking journal entries; Implemented a monthly variance fluctuation analysis across all segments. Variance analysis are communicated to operations and executives to make sure the results are accurate.
|
● |
Our management has increased its focus on the Company’s purchase order process in order to better manage inventory thereby improving cash management and ultimately leading to more reliable and precise financial reporting.
|
● |
Vendor payments and cash disbursement are reviewed on weekly basis by management and accounting team to ensure timely payment. Cash balances are communicated to management on weekly basis to improve cash management.
|
Exhibit
|
Incorporated by Reference
|
Filed or Furnished
|
||||||||
No.
|
Exhibit Description
|
Form
|
Date
|
Number
|
Herewith
|
|||||
31.1
|
Filed
|
|||||||||
31.2
|
Filed
|
|||||||||
32.1
|
Furnished *
|
|||||||||
32.2
|
Furnished *
|
|||||||||
101.INS
|
XBRL Instance Document
|
Filed
|
||||||||
101.SCH
|
XBRL Taxonomy Extension Schema Document
|
Filed
|
||||||||
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
Filed
|
||||||||
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document
|
Filed
|
||||||||
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document
|
Filed
|
||||||||
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
Filed
|
||||||||
104
|
Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
|
Filed
|
* |
This exhibit is being furnished rather than filed and shall not be deemed incorporated by reference into any filing, in accordance with Item 601 of Regulation S-K.
|
HEALTHIER CHOICES MANAGEMENT CORP.
|
||
Date: November 15, 2021
|
By:
|
/s/ Jeffrey Holman
|
Jeffrey Holman
|
||
Chief Executive Officer
|
||
Date: November 15, 2021
|
By:
|
/s/ John Ollet
|
John Ollet
|
||
Chief Financial Officer
|
1 Year Healthier Choices Manage... (PK) Chart |
1 Month Healthier Choices Manage... (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions