2022 Q3 Form 10-Q Financial Statement
#000147793222006394 Filed on August 23, 2022
Income Statement
| Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
|---|---|---|---|
| Revenue | $206.5K | $113.1K | $204.3K |
| YoY Change | -50.39% | -75.18% | 176.76% |
| Cost Of Revenue | $169.0K | $82.09K | $203.2K |
| YoY Change | -58.66% | -80.43% | 266.48% |
| Gross Profit | $37.54K | $30.98K | $1.025K |
| YoY Change | 395.87% | -13.91% | -94.41% |
| Gross Profit Margin | 18.18% | 27.4% | 0.5% |
| Selling, General & Admin | $128.3K | $78.14K | $3.020K |
| YoY Change | |||
| % of Gross Profit | 341.66% | 252.21% | 294.63% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $7.080K | -$3.230K | $7.079K |
| YoY Change | -98.32% | -101.42% | |
| % of Gross Profit | 18.86% | -10.43% | 690.63% |
| Operating Expenses | $135.3K | $82.00K | $89.18K |
| YoY Change | -79.21% | 546533.33% | -93.62% |
| Operating Profit | -$97.79K | -$51.01K | -$88.15K |
| YoY Change | -84.8% | 339986.67% | -93.61% |
| Interest Expense | $149.3K | $171.6K | $37.63K |
| YoY Change | 44.6% | 239.39% | 118.93% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $581.2K | $1.906M | $896.7K |
| YoY Change | -148.71% | -195.24% | -1520.94% |
| Pretax Income | $483.4K | $1.855M | $808.5K |
| YoY Change | 7016.3% | 10369.38% | -156.04% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | $483.4K | $1.855M | -$2.816K |
| YoY Change | -126.03% | -12367226.67% | 18673.33% |
| Net Earnings / Revenue | 234.08% | 1640.64% | -1.38% |
| Basic Earnings Per Share | $0.00 | $0.01 | $0.03 |
| Diluted Earnings Per Share | $0.00 | $0.01 | $0.00 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 221.1M shares | 49.54M shares | |
| Diluted Shares Outstanding | 659.5M shares | 287.2M shares | 116.6M shares |
Balance Sheet
| Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $132.8K | $103.8K | $860.00 |
| YoY Change | 890.45% | -1.41% | -99.84% |
| Cash & Equivalents | $132.8K | $103.8K | $857.00 |
| Short-Term Investments | |||
| Other Short-Term Assets | $16.78K | $7.190K | |
| YoY Change | -89.97% | -96.04% | |
| Inventory | $1.966K | $1.966K | |
| Prepaid Expenses | $16.78K | $7.194K | |
| Receivables | $20.85K | $7.823K | $0.00 |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $172.4K | $120.8K | $857.00 |
| YoY Change | -29.76% | -73.79% | -99.89% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $101.8K | $108.8K | $115.9K |
| YoY Change | -21.77% | -20.65% | |
| Goodwill | $302.2K | $302.2K | $302.2K |
| YoY Change | -46.37% | -46.37% | |
| Intangibles | $112.0K | $112.0K | $112.0K |
| YoY Change | 833.33% | 833.33% | |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | |||
| YoY Change | |||
| Total Long-Term Assets | $516.0K | $523.0K | $530.1K |
| YoY Change | -33.21% | -56.15% | -25.3% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $172.4K | $120.8K | $857.00 |
| Total Long-Term Assets | $516.0K | $523.0K | $530.1K |
| Total Assets | $688.4K | $643.9K | $531.0K |
| YoY Change | -32.38% | -61.07% | -64.83% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $87.98K | $69.79K | $70.26K |
| YoY Change | 3.96% | -31.23% | -34.7% |
| Accrued Expenses | $5.064K | $11.64K | $13.83K |
| YoY Change | -96.05% | -92.49% | -85.19% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $995.4K | $1.126M | $1.559M |
| YoY Change | -36.33% | -31.68% | 8.94% |
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $2.343M | $3.614M | $4.051M |
| YoY Change | -64.08% | -35.78% | 24.93% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $2.343M | $3.614M | $4.051M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Total Liabilities | $2.343M | $3.614M | $4.051M |
| YoY Change | -64.08% | -35.78% | 24.93% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$4.018M | -$4.501M | -$12.40M |
| YoY Change | -71.53% | -63.29% | |
| Common Stock | $269.7K | $105.0K | $27.71K |
| YoY Change | 1050.23% | 365.75% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$1.654M | -$2.970M | $19.36K |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $688.4K | $643.9K | $531.0K |
| YoY Change | -32.38% | -61.07% | -64.83% |
Cashflow Statement
| Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $483.4K | $1.855M | -$2.816K |
| YoY Change | -126.03% | -12367226.67% | 18673.33% |
| Depreciation, Depletion And Amortization | $7.080K | -$3.230K | $7.079K |
| YoY Change | -98.32% | -101.42% | |
| Cash From Operating Activities | -$96.01K | -$36.40K | -$14.26K |
| YoY Change | -65.87% | -67.9% | -95.61% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | |||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| Cash From Investing Activities | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -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 | 125.0K | 120.0K | $0.00 |
| YoY Change | -34.11% | -67.42% | -100.0% |
| NET CHANGE | |||
| Cash From Operating Activities | -96.01K | -36.40K | -$14.26K |
| Cash From Investing Activities | 0.000 | 0.000 | $0.00 |
| Cash From Financing Activities | 125.0K | 120.0K | $0.00 |
| Net Change In Cash | 28.99K | 83.60K | -$14.26K |
| YoY Change | -131.65% | -117.4% | -102.71% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$96.01K | -$36.40K | -$14.26K |
| Capital Expenditures | |||
| Free Cash Flow | |||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | ||
| dei |
Entity Shell Company
EntityShellCompany
|
false | ||
| CY2022Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
221143561 | shares |
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001464865 | ||
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2022 | ||
| CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
30000000 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2021Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
750000000 | shares |
| CY2022Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
104994164 | shares |
| CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
102500000 | shares |
| CY2021Q4 | us-gaap |
Goodwill
Goodwill
|
302215 | usd |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2022-06-30 | ||
| dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
ACCREDITED SOLUTIONS, INC. | ||
| dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
NV | ||
| dei |
Entity File Number
EntityFileNumber
|
000-54509 | ||
| dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
45-2578051 | ||
| dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
9980 South 300 West | ||
| dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Suite 200 | ||
| dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Sandy | ||
| dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
UT | ||
| dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
84070 | ||
| dei |
City Area Code
CityAreaCode
|
1-800 | ||
| dei |
Local Phone Number
LocalPhoneNumber
|
947-9197 | ||
| dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
| dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
| dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
| dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
| CY2022Q2 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
29100 | usd |
| CY2022Q2 | us-gaap |
Other Notes Payable Current
OtherNotesPayableCurrent
|
410000 | usd |
| CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
102500000 | shares |
| CY2022Q2 | us-gaap |
Revenues
Revenues
|
113070 | usd |
| CY2022Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
3854 | usd |
| CY2021Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
15 | usd |
| CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-51013 | usd |
| CY2021Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-15 | usd |
| CY2022Q2 | us-gaap |
Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
|
2788386 | usd |
| CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
171575 | usd |
| CY2022Q2 | us-gaap |
Legal Fees
LegalFees
|
9810 | usd |
| CY2022Q2 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-700919 | usd |
| CY2022Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1906082 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1855069 | usd |
| CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15 | usd |
| CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.01 | |
| CY2021Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.00 | |
| CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.01 | |
| CY2021Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.00 | |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
136160738 | shares |
| CY2021Q2 | us-gaap |
Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
|
101296703 | shares |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
287170106 | shares |
| CY2021Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
101296703 | shares |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
22172 | usd |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2816 | usd |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19356 | usd |
| CY2022Q2 | ghmp |
Issuance Of Common Stock For Cash Amount
IssuanceOfCommonStockForCashAmount
|
120000 | usd |
| CY2022Q2 | ghmp |
Reverse Merger Acquisition Amount
ReverseMergerAcquisitionAmount
|
-6216464 | usd |
| CY2022Q2 | ghmp |
Issuance Of Common Stock For Conversion Of Note Payable Amount
IssuanceOfCommonStockForConversionOfNotePayableAmount
|
1252340 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1855069 | usd |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-2969699 | usd |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2202 | usd |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15 | usd |
| CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2187 | usd |
| CY2021Q2 | ghmp |
Issuance Of Common Stock For Cash Amount
IssuanceOfCommonStockForCashAmount
|
10000 | usd |
| CY2021Q2 | ghmp |
Issuance Of Common Stock For Exercise Of Warrant Amount
IssuanceOfCommonStockForExerciseOfWarrantAmount
|
10000 | usd |
| CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15 | usd |
| CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
22172 | usd |
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
1852253 | usd | |
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-30 | usd | |
| us-gaap |
Depreciation
Depreciation
|
3854 | usd | |
| us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
179036 | usd | |
| ghmp |
Gains Loss On Extinguishment Of Debt
GainsLossOnExtinguishmentOfDebt
|
700919 | usd | |
| ghmp |
Gain Loss On Sales Of Derivatives
GainLossOnSalesOfDerivatives
|
-2788386 | usd | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-4277 | usd | |
| us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
14691 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
46 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-11594 | usd | |
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
6256 | usd | |
| us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
-8256 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-50663 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-30 | usd | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
120000 | usd | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
10000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
120000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
10000 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
69337 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
9970 | usd | |
| CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
34494 | usd |
| CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
190 | usd |
| CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
103831 | usd |
| CY2021Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
10160 | 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;">Accredited Solutions, Inc. (the “Company” or “Accredited Solutions”), formerly known as Good Hemp, Inc., 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. On February 6, 2019, the Company acquired trademarks and intellectual property, which includes all rights and trade secrets to the hemp-derived CBD-infused line of consumer beverages sold under the “Good Hemp” brand, and the Company subsequently changed its name to “Good Hemp, Inc.” in September of 2019. On April 2, 2021, the Company acquired Diamond Creek Group, LLC, a North Carolina limited liability company, which sells the Diamond Creek brand of high alkaline water products.</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 March 8, 2022, the Company entered into a plan and agreement of merger with Petro X Solutions, Inc., a Wyoming corporation ("Petro X Solutions"), which markets EnviroXstreamTM cleaner/degreaser and other competitively-priced, environmentally-friendly products that are designed to work as well as or better than their toxic competitors, for an aggregate of 100,000,000 shares of Company common stock. On May 11, 2022, the Company closed this transaction, Petro X Solutions became a wholly-owned subsidiary of the Company, and 100,000,000 shares of common stock were authorized for issuance to Petro X Solutions's pre-closing shareholders. 20,000,000 of such shares were issued to the Petro X Solutions shareholders, the balance of the 100,000,000 issuable shares being issued in August 2022, the Company’s then-CEO and then-directors resigned, and new officers and directors were appointed, constituting a change of control of the Company.</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 12, 2022, the Company changed its name from “Good Hemp, Inc.” to “Accredited Solutions, Inc.” as it is no longer only focused on selling hemp beverages. The Company is now focused primarily on selling (i) high alkaline water products under the “Diamond Creek” brand name, and (i) the EnviroXstream<sup style="vertical-align:super">TM </sup>cleaner/degreaser and other competitively-priced, environmentally-friendly products that are designed to work as well as or better than their toxic competitors.</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;">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> | ||
| ghmp |
Description Agreement Of Merger With Petro X Solutions Inc
DescriptionAgreementOfMergerWithPetroXSolutionsInc
|
a Wyoming corporation ("Petro X Solutions"), which markets EnviroXstreamTM cleaner/degreaser and other competitively-priced, environmentally-friendly products that are designed to work as well as or better than their toxic competitors, for an aggregate of 100,000,000 shares of Company common stock. On May 11, 2022, the Company closed this transaction, Petro X Solutions became a wholly-owned subsidiary of the Company, and 100,000,000 shares of common stock were authorized for issuance to Petro X Solutions's pre-closing shareholders | ||
| ghmp |
Condensed Financial Statementspolicytextblock
CondensedFinancialStatementspolicytextblock
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The unaudited condensed financial statements of the Company for the six month periods ended June 30, 2022 and 2021 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-K. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2021 was derived from the audited financial statements included in the Company’s financial statements as of and for the year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on April 25, 2022. These unaudited condensed financial statements should be read in conjunction with that report.</p> | ||
| 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> | ||
| CY2022Q2 | ghmp |
Working Capital Deficit
WorkingCapitalDeficit
|
-3492747 | usd |
| us-gaap |
Profit Loss
ProfitLoss
|
-1852253 | usd | |
| CY2022Q2 | ghmp |
Class A Preferred Shares For A Total Value
ClassAPreferredSharesForATotalValue
|
12000 | usd |
| CY2019Q2 | ghmp |
Related Inventory Consideration
RelatedInventoryConsideration
|
32462 | usd |
| ghmp |
Acquisition Paid Initial Portion Of Purchase Price
AcquisitionPaidInitialPortionOfPurchasePrice
|
643000 | usd | |
| CY2021Q2 | ghmp |
Acquisition Paid Initial Portion Of Purchase Price
AcquisitionPaidInitialPortionOfPurchasePrice
|
500000 | usd |
| CY2021Q2 | ghmp |
Acquisition Paid Initial Portion Of Purchase Price
AcquisitionPaidInitialPortionOfPurchasePrice
|
143000 | usd |
| CY2022Q2 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
643000 | usd |
| CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
|
38635 | usd |
| CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
|
41611 | usd |
| CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
|
97228 | usd |
| CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
|
100000 | usd |
| CY2022Q2 | ghmp |
Total Assets Acquired
TotalAssetsAcquired
|
277474 | usd |
| CY2022Q2 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
77998 | usd |
| CY2022Q2 | us-gaap |
Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
|
20000 | usd |
| CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
|
97998 | usd |
| CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
|
463524 | usd |
| CY2022Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
|
161309 | usd |
| CY2022Q2 | us-gaap |
Goodwill
Goodwill
|
302215 | usd |
| CY2022Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
100000000 | shares |
| CY2022Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
100000000 | shares |
| ghmp |
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 style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Name Officer/Director</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>Number of 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></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; text-align:justify;">Ron F. Sickels (1)</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;">28,333,333</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:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Fabian G. Deneault</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;">28,333,333</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; text-align:justify;">William E. Sluss</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;">10,000,000</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:#ffffff"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Eric Newlan</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;">14,416,667</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table> | ||
| us-gaap |
Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
|
<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: #000000 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="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: #000000 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="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> | ||
| CY2019Q3 | us-gaap |
Contingent Consideration Classified As Equity Fair Value Disclosure
ContingentConsiderationClassifiedAsEquityFairValueDisclosure
|
100000 | usd |
| CY2022Q4 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.08 | pure |
| CY2022Q2 | ghmp |
Total
Total
|
410000 | 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
|
4.4945 | pure | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0700 | pure | |
| CY2022Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
2183497 | usd |
| CY2021Q4 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
0 | usd |
| CY2022Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
82088 | usd |
