2021 Q4 Form 10-Q Financial Statement

#000147793221008241 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $278.7K $416.3K $102.0K
YoY Change 759.12% 308.12% 44.61%
Cost Of Revenue $238.7K $408.8K $77.69K
YoY Change 353.14% 426.15% 8.41%
Gross Profit $40.03K $7.570K $24.32K
YoY Change -297.87% -68.88% -2271.61%
Gross Profit Margin 14.36% 1.82% 23.84%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.080K $420.3K
YoY Change
% of Gross Profit 17.69% 5552.71%
Operating Expenses -$118.4K $651.0K $290.9K
YoY Change -112.71% 123.77% 237.5%
Operating Profit $158.4K -$643.4K -$266.6K
YoY Change -116.64% 141.35% 205.31%
Interest Expense $1.264M $103.3K $3.192K
YoY Change 110.63% 3134.87%
% of Operating Profit 797.72%
Other Income/Expense, Net -$300.5K -$1.193M $116.7K
YoY Change 152.57% -1122.78% 12580.0%
Pretax Income $931.5K $6.793K $0.00
YoY Change -297.86% -100.0%
Income Tax
% Of Pretax Income
Net Earnings $931.3K -$1.857M -$149.9K
YoY Change -297.81% 1138.42% 73.53%
Net Earnings / Revenue 334.16% -446.03% -146.99%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $39.51K -$81.33K -$6.830K
COMMON SHARES
Basic Shares Outstanding 23.51M shares 23.44M shares
Diluted Shares Outstanding 102.5M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.12K $13.41K $37.75K
YoY Change -28.78% -64.48% 779.95%
Cash & Equivalents $34.49K $13.41K $36.14K
Short-Term Investments
Other Short-Term Assets $0.00 $167.2K $130.6K
YoY Change -100.0% 28.04%
Inventory $2.012K $0.00 $173.0K
Prepaid Expenses $0.00 $166.9K
Receivables $46.32K $64.80K $7.210K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.17K $245.5K $348.6K
YoY Change -88.86% -29.58% 15.64%
LONG-TERM ASSETS
Property, Plant & Equipment $123.0K $130.1K
YoY Change
Goodwill $302.2K $563.5K
YoY Change
Intangibles $112.0K $12.00K
YoY Change 833.33%
Long-Term Investments $0.00 $66.99K $63.43K
YoY Change -100.0% 5.61%
Other Assets
YoY Change
Total Long-Term Assets $0.00 $772.6K $2.775M
YoY Change -100.0% -72.16% 23028.58%
TOTAL ASSETS
Total Short-Term Assets $22.17K $245.5K $348.6K
Total Long-Term Assets $0.00 $772.6K $2.775M
Total Assets $22.17K $1.018M $3.124M
YoY Change -98.9% -67.41% 896.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $78.72K $84.63K $145.1K
YoY Change 309.93% -41.67% 104.35%
Accrued Expenses $9.206K $128.1K $33.03K
YoY Change 287.98% 607.28%
Deferred Revenue
YoY Change
Short-Term Debt $1.632M $1.563M $706.6K
YoY Change 130.95% 121.27% 667.78%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.115M $6.523M $3.059M
YoY Change 111.75% 113.27% 553.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.115M $6.523M $3.059M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $5.115M $6.523M $3.059M
YoY Change 111.75% 113.27% 281.51%
SHAREHOLDERS EQUITY
Retained Earnings -$40.00 -$14.11M
YoY Change -100.0%
Common Stock $102.5K $23.45K
YoY Change 360.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.17K -$5.505M $65.47K
YoY Change
Total Liabilities & Shareholders Equity $22.17K $1.018M $3.124M
YoY Change -98.9% -67.41% 896.74%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $931.3K -$1.857M -$149.9K
YoY Change -297.81% 1138.42% 73.53%
Depreciation, Depletion And Amortization $7.080K $420.3K
YoY Change
Cash From Operating Activities -$8.180K -$281.3K $88.31K
YoY Change -100.61% -418.54% -165.02%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $45.46K $0.00
YoY Change -171.67%
Cash From Investing Activities $45.46K $0.00 $0.00
YoY Change -171.67% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -35.88K 189.7K -88.31K
YoY Change -97.21% -314.82% -165.26%
NET CHANGE
Cash From Operating Activities -8.180K -281.3K 88.31K
Cash From Investing Activities 45.46K 0.000 0.000
Cash From Financing Activities -35.88K 189.7K -88.31K
Net Change In Cash 1.400K -91.59K -0.0000000002328
YoY Change -109.4% 39337605464063990.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$8.180K -$281.3K $88.31K
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$8.180K -$281.3K $88.31K
YoY Change -418.54% -171.32%

Facts In Submission

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IncreaseDecreaseInPrepaidExpense
-85479 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-130616 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
163567 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
98491 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
228 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
0 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
22623 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
126060 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
75000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
0 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-32698 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
0 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
40227 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
4338 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-73521 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-719475 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1455099 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
689055 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
us-gaap Payments To Acquire Assets Investing Activities
PaymentsToAcquireAssetsInvestingActivities
47000 USD
us-gaap Payments To Acquire Assets Investing Activities
PaymentsToAcquireAssetsInvestingActivities
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-736055 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
147967 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1322182 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
966084 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
488291 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
gdhp Conversion Of Note Payables To Common Stock Net
ConversionOfNotePayablesToCommonStockNet
0 USD
gdhp Conversion Of Note Payables To Common Stock Net
ConversionOfNotePayablesToCommonStockNet
60000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
250000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
250000 USD
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
42500 USD
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1409391 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1443151 USD
CY2021Q3 gdhp Acquisition Paid Initial Portion Of Purchase Price
AcquisitionPaidInitialPortionOfPurchasePrice
643000 USD
CY2021Q2 gdhp Acquisition Paid Initial Portion Of Purchase Price
AcquisitionPaidInitialPortionOfPurchasePrice
500000 USD
CY2021Q2 gdhp Acquisition Paid Initial Portion Of Purchase Price
AcquisitionPaidInitialPortionOfPurchasePrice
143000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
19100 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
283000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-46139 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-11948 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59868 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48088 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
324 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
0 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13405 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36140 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
78000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
0 USD
gdhp Spire Branding Agreement For Common Stock
SpireBrandingAgreementForCommonStock
0 USD
gdhp Spire Branding Agreement For Common Stock
SpireBrandingAgreementForCommonStock
2700000 USD
gdhp Conversion Of Preferred Stock Into Common Stock
ConversionOfPreferredStockIntoCommonStock
10000 USD
gdhp Conversion Of Preferred Stock Into Common Stock
ConversionOfPreferredStockIntoCommonStock
14000 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
8808 USD
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
us-gaap Nature Of Operations
NatureOfOperations
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 1 – NATURE OF OPERATIONS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Good Hemp, Inc. (the “Company” or “Good Hemp”), formerly known as Keyser Resources, Inc., and Lone Star Gold, Inc., was incorporated in the State of Nevada on November 26, 2007.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company was involved in the exploration and development of mining properties until September 30, 2013, when it discontinued operations. In 2017, the Company was put into receivership and in 2018, it emerged from receivership. On September 11, 2019, the Company’s Board of Directors, pursuant to Nevada Revised Statute 92A.280, amended the Company’s Articles of Incorporation to change the name of the Company from Lone Star Gold, Inc. to Good Hemp, Inc. The amendment was filed with the Nevada Secretary of State on September 12, 2019.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company is now a North Carolina based company that is made up of industry veterans focused on exploiting niche markets in the hemp industry. Good Hemp® includes two lines of hemp-based beverages. Good Hemp® 2oh! is a hemp-derived, CBD-infused line of flavored waters, and Good Hemp® fizz! is a line of carbonated hemp oil infused sodas. Good Hemp® products have been sold throughout the United States since 2016 via Amazon.com, as well as local retailers.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">By establishing a comprehensive distribution system, Good Hemp® has secured listings for its products with regional and national grocery and convenience chain stores.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On July 21, 2020, the Company filed with the State of Nevada a Certificate of Designation designating 250,000 shares of the Company’s authorized preferred stock as Series B-1 Convertible Preferred Stock (the “Series B-1 Preferred Stock”). Each share of Series B-1 Preferred Stock is convertible into 1.667 shares of Company common stock (subject to a 4.99% beneficial ownership limitation). The Series B-1 Preferred Stock entitles the holder to piggy-back registration rights and one vote per share.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Also, on July 21, 2020, the Company filed with the State of Nevada a Certificate of Designation designating 750,000 shares of the Company’s authorized preferred stock as Series B-2 Convertible Preferred Stock (the “Series B-2 Preferred Stock”). Each share of Series B-2 Preferred Stock is convertible into a number of shares of Company common stock equal to $1.00 divided by (i) the lesser of $0.60 or 60% of the 14-day average closing price of the Company’s common stock at the time of conversion (the “Market Price”) if the conversion occurs within 6 months of July 21, 2020, or (ii) 60% of the Market Price if the conversion occurs at least 6 months after July 21, 2020 (subject to a 4.99% beneficial ownership limitation). The Series B-2 Preferred Stock entitles the holder to one vote per share.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On February 9, 2021, the Company formed Good Hemp Wellness, LLC, a limited liability company formed under the laws of the State of North Carolina, to sell CBD products to customers through chiropractic offices. In October 2021, this company was dissolved. This company is being treated as discontinued operations in the consolidated financial statements.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On April 1, 2021, the Company entered into an agreement to purchase Diamond Creek Group, LLC, a North Carolina limited liability company which sells the Diamond Creek brand of high alkaline water products, for a total purchase price of $643,000. On April 2, 2021, the Company closed the acquisition and paid the initial $500,000 portion of the purchase price, and on April 23, 2021, paid the $143,000 purchase price balance. See note 4 for the purchase price allocation.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The outbreak of the coronavirus (COVID-19) resulted in increased travel restrictions, and shutdown of businesses, which may cause slower recovery of the economy. We may experience impact from quarantines, market downturns and changes in customer behavior related to pandemic fears and impact on our workforce if the virus continues to spread. In addition, one or more of our customers, partners, service providers or suppliers may experience financial distress, delayed or defaults on payment, file for bankruptcy protection, sharp diminishing of business, or suffer disruptions in their business due to the outbreak. The extent to which the coronavirus impacts our results will depend on future developments and reactions throughout the world, which are highly uncertain and will include emerging information concerning the severity of the coronavirus and the actions taken by governments and private businesses to attempt to contain the coronavirus. It is likely to result in a potential material adverse impact on our business, results of operations and financial condition. Wider-spread COVID-19 globally could prolong the deterioration in economic conditions and could cause decreases in or delays in advertising spending and reduce and/or negatively impact our short-term ability to grow our revenues. Any decreased collectability of accounts receivable, bankruptcy of small and medium businesses, or early termination of agreements due to deterioration in economic conditions could negatively impact our results of operations.</p>
CY2021Q2 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
143000 USD
us-gaap Net Income Loss
NetIncomeLoss
-5747357 USD
CY2019Q2 gdhp Related Inventory Consideration
RelatedInventoryConsideration
32462 USD
CY2020Q1 gdhp Shares Issued Upon Agreement
SharesIssuedUponAgreement
6000000 shares
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2700000 USD
CY2021Q3 us-gaap Finite Lived Noncompete Agreements Gross
FiniteLivedNoncompeteAgreementsGross
2700000 USD
CY2021Q3 gdhp Value Utilized
ValueUtilized
-2700000 USD
CY2021Q3 gdhp Remaining
Remaining
0 USD
CY2021Q3 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
643000 USD
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the recoverability of long-lived assets and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</p>
CY2020Q1 gdhp Convertible Note Prepayment Description
ConvertibleNotePrepaymentDescription
The Note carries a prepayment penalty if the Note is paid off in 60, 90, 120,150, or 180 days following the Note date. The prepayment penalty is based on the then-outstanding principal at the time of payoff, plus accrued and unpaid interest, multiplied by 115%, 120%, 125%, 130%, and 135% respectively. After the expiration of 180 days following the issue date, the Company shall have no right of prepayment.
CY2020Q2 gdhp Proceeds From Unrelated Third Party
ProceedsFromUnrelatedThirdParty
103000 USD
CY2021Q3 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
643000 USD
CY2021Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
38635 USD
CY2021Q3 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
41611 USD
CY2021Q3 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
97228 USD
CY2021Q3 gdhp Total Assets Acquired
TotalAssetsAcquired
177474 USD
CY2021Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
77998 USD
CY2021Q3 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
20000 USD
CY2021Q3 gdhp Total Liabilities Assumed
TotalLiabilitiesAssumed
97998 USD
CY2021Q3 us-gaap Goodwill
Goodwill
563524 USD
CY2019Q1 gdhp Proceeds From Unrelated Third Party
ProceedsFromUnrelatedThirdParty
50000 USD
CY2019Q1 us-gaap Debt Conversion Converted Instrument Rate
DebtConversionConvertedInstrumentRate
0.08 pure
CY2019Q1 gdhp Shares Issuable Description
SharesIssuableDescription
The number of shares to be issued upon conversion would be determined by dividing the amount to be converted by 60% of the average of the three lowest closing prices of the Company’s common stock during the ten trading days immediately preceding the conversion date.
CY2020Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.20
CY2020Q1 us-gaap Legal Fees
LegalFees
2500 USD
CY2020Q1 gdhp Shares Issuable Description
SharesIssuableDescription
The Note matures 12 months after the date of the Note on March 23, 2021. The Note is convertible into shares of the Company’s common stock beginning on the date which is 180 days from the date of the Note, at a conversion price equal to 65%
CY2020Q1 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.0499 pure
CY2020Q2 us-gaap Legal Fees
LegalFees
40000 USD
CY2020Q2 us-gaap Legal Fees
LegalFees
80000 USD
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
65000 shares
CY2019Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.10 pure
CY2019Q3 gdhp Converted Description
ConvertedDescription
The number of shares which will be issued upon any conversion of the notes will be determined by dividing the principal amount to be converted (plus, at the option of the noteholder, accrued and unpaid interest) by the lower of (i) $0.001 or, (ii) 50% of the lowest bid price during the forty-five consecutive trading day period ending on the trading day immediately prior to the conversion date.
CY2021Q3 gdhp Working Capital Deficit
WorkingCapitalDeficit
-6277411 USD
CY2020Q1 gdhp Closing Price Of Common Shares
ClosingPriceOfCommonShares
0.45
us-gaap Environmental Costs Recognized Recovery Credited To Expense
EnvironmentalCostsRecognizedRecoveryCreditedToExpense
2700000 USD
CY2021Q2 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
500000 USD
CY2020Q1 gdhp Convertible Promissory Note Principle Amount
ConvertiblePromissoryNotePrincipleAmount
67500 USD
CY2020Q2 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.0499 pure
CY2020Q3 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.0499 pure
CY2020Q3 gdhp Convertible Note Prepayment Description
ConvertibleNotePrepaymentDescription
The note carries a prepayment penalty if the note is paid off in 30, 60, 90, 120, 150, or 180 days following the note date. The prepayment penalty is based on the then-outstanding principal at the time of payoff, plus accrued and unpaid interest, multiplied by 112%, 115%, 118%, 125%, 130%, and 135% respectively. After the expiration of 180 days following the issue date, the Company shall have no right of prepayment.
CY2021Q1 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.0499 pure
CY2021Q3 us-gaap Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
0.0499 pure
gdhp Schedule Of Summary Purchases Towards Related Party
ScheduleOfSummaryPurchasesTowardsRelatedParty
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Class A</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Name</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Preferred</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Shares</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Consideration</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">William Alessi</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">12,000,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">200,000</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">(1)</p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Chris Chumas</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">6,000,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">100,000</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px">(1)</p></td></tr></tbody></table>
CY2021Q3 gdhp Principal Amount Due
PrincipalAmountDue
510575 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
3.215 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0700 pure
CY2021Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
4652050 USD
CY2020Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
1526495 USD
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
40000 shares
CY2020Q3 us-gaap Payments For Fees
PaymentsForFees
20000 USD
CY2021Q1 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
30000 shares
CY2021Q1 gdhp Debt Conversion Shares
DebtConversionShares
17405 shares
CY2021Q1 gdhp Debt Conversion Amount
DebtConversionAmount
77952 USD
gdhp Joint Venture Disclosuretextblock
JointVentureDISCLOSURETEXTBLOCK
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 10 – JOINT VENTURE</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On August 24, 2020, with an effective date of July 1, 2020, the Company entered into a joint venture agreement with Paul Hervey (“Hervey”) for the purpose of cultivating hemp. Hervey is a licensed hemp cultivator in good standing under the laws of North Carolina with approximately 3,700 square feet of greenhouse cultivation space and approximately 9 acres of farmable land (the “Facility”). Under the joint venture agreement, Good Hemp will contribute up to $160,000 for the preparation of the Facility, as well as up to $174,000 as ongoing operational expenses for the joint venture, and Hervey will contribute exclusive use of the Facility, as well as purchase services and/or purchase or lease necessary equipment for the planting, cultivation and irrigation for growing hemp, and profits shall be split equally by the parties after reimbursement of expenses paid by the parties. The joint venture shall conduct business under the name “Olin Farms, LLC”. On or about August 20, 2020, the Company compensated Hervey $53,433.33 for the initial expenses of the joint venture. The payment was made as follows: (i) a check payable to Hervey in the amount of $33,433.33, and (ii) the issuance of 40,000 shares of Company common stock in lieu of a $20,000 cash payment. On or about August 21, 2020, the Company made an initial cash contribution to Olin Farms, LLC, in the amount of $10,000.00. In October 2021, Olin Farms, LLC was dissolved. </p>
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
40000 shares
CY2020Q3 us-gaap Payments For Fees
PaymentsForFees
20000 USD
CY2020Q3 us-gaap Legal Fees
LegalFees
10000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
324 USD
CY2021Q3 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
324 USD
CY2020Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
0 USD
gdhp Net Loss Of Discontinued Operations
NetLossOfDiscontinuedOperations
-73521 USD
gdhp Net Loss Of Discontinued Operations
NetLossOfDiscontinuedOperations
0 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-73521 USD
us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
0 USD

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