TMaga
2 days ago
Humble, Most current, not what you outlined in your post 2 days ago.
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
HEALTHIER CHOICES MANAGEMENT CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30, 2024 December 31, 2023
ASSETS
CURRENT ASSETS
Cash and cash equivalent $ 2,533,980 $ 3,658,506
Inventories 66,585 66,671
Prepaid expenses and vendor deposits 196,846 1,493,354
Other current assets 40,530 8,714
Restricted cash 553,232 553,232
Current assets of discontinued operations - 5,944,781
TOTAL CURRENT ASSETS 3,391,173 11,725,258
Property, plant, and equipment, net of accumulated depreciation 86,964 58,613
Intangible assets, net of accumulated amortization 167,932 198,163
Right of use asset โ operating lease, net 14,479 98,440
Other assets 124,100 154,329
Other assets of discontinued operations - 18,734,776
TOTAL ASSETS $ 3,784,648 $ 30,969,579
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERSโ EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses $ 2,619,248 $ 3,104,253
Line of credit 453,232 453,232
Operating lease liability, current 12,363 94,005
Due to related party 106,841 -
Current liabilities of discontinued operations - 8,579,449
TOTAL CURRENT LIABILITIES 3,191,684 12,230,939
Due to related party - 3,753,003
Operating lease liability, net of current 2,117 4,435
Other Long-term Liabilities of Discontinued Operations - 7,111,986
TOTAL LIABILITIES 3,193,801 23,100,363
COMMITMENTS AND CONTINGENCIES (SEE NOTE 11)
CONVERTIBLE PREFERRED STOCK
Series E redeemable convertible preferred stock, $1,000 par value per share, 14,722 shares authorized, 1,111 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $1.1 million as of September 30, 2024 and December 31, 2023, respectively. 1,111,100 1,111,100
STOCKHOLDERSโ EQUITY
Common Stock, $0.0001 par value per share, 750,000,000,000 shares authorized; 481,266,632,384 and 478,266,632,384 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. 48,126,663 47,826,663
Additional paid-in capital 24,212,690 21,028,274
Accumulated deficit (72,859,606 ) (62,096,821 )
TOTAL STOCKHOLDERSโ EQUITY (520,253 ) 6,758,116
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERSโ EQUITY $ 3,784,648 $ 30,969,579
TMaga
3 days ago
If he has the money to do the $5 mil buy back, why is he not doing it???
CURRENT ASSETS
Cash $ 8,481,915 $ 22,911,892
Accounts receivable, net 92,649 55,815
Notes receivable 156,297 189,225
Inventories 3,765,070 3,817,192
Prepaid expenses and vendor deposits 826,611 322,182
Investment 1,371 9,771
Othercurrent assets 1,004,809 1,224,171
Restricted cash 628,232 1,778,232
TOTALCURRENTASSETS 14,956,954 30,308,480
Property, plant,and equipment, net ofaccumulated depreciation 2,974,629 3,112,908
Intangible assets, net ofaccumulated amortization 4,544,332 5,005,511
Goodwill 5,747,000 5,747,000
Right of use asset โ operating lease, net 10,634,634 10,604,935
Otherassets 481,426 476,196
TOTALASSETS
$ 39,338,975 $ 55,255,030
LIABILITIES, CONVERTIBLEPREFERREDSTOCKANDSTOCKHOLDERSโ EQUITY
CURRENTLIABILITIES
Accounts payable and accrued expenses $ 5,133,314 $ 5,715,234
Contingent consideration 372,000 774,900
Contract liabilities 147,469 198,606
Line of credit 453,232 453,232
Current portion of loan payment 552,001 536,542
Operating lease liability,current 1,965,888 2,228,852
TOTALCURRENTLIABILITIES 8,623,904 9,907,366
Loan payable, net ofcurrent portion 2,097,932 2,378,061
Operating lease liability, net ofcurrent 8,395,274 8,041,504
TOTALLIABILITIES 19,117,110 20,32