2024 Q2 Form 10-Q Financial Statement

#000149315224018930 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $72.92K $3.000M $3.186M
YoY Change -97.39% -5.84% 33.59%
Cost Of Revenue $36.57K $1.821M $1.850M
YoY Change -97.63% -1.61% 43.65%
Gross Profit $36.35K $1.179M $1.335M
YoY Change -97.09% -11.71% 21.78%
Gross Profit Margin 49.85% 39.3% 41.92%
Selling, General & Admin $1.404M $2.197M $2.737M
YoY Change -35.74% -19.73% -25.75%
% of Gross Profit 3862.35% 186.31% 204.94%
Research & Development $3.168K $62.73K
YoY Change -94.95% 837.73%
% of Gross Profit 0.27% 4.7%
Depreciation & Amortization $4.570K $4.790K $4.790K
YoY Change -5.38% 0.0% -98.49%
% of Gross Profit 12.57% 0.41% 0.36%
Operating Expenses $1.418M $2.733M $2.799M
YoY Change -37.32% -2.38% -24.18%
Operating Profit -$1.381M -$1.554M -$1.464M
YoY Change 36.41% 6.13% -43.6%
Interest Expense -$751.7K -$3.193M $1.997M
YoY Change -886.79% -259.88% 127919.23%
% of Operating Profit
Other Income/Expense, Net -$751.7K -$3.193M $1.997M
YoY Change 370.5% -259.88% -174.49%
Pretax Income -$2.133M -$4.747M $533.1K
YoY Change 81.94% -990.42% -120.36%
Income Tax
% Of Pretax Income
Net Earnings $10.32M -$4.747M $533.1K
YoY Change -980.61% -990.42% -120.36%
Net Earnings / Revenue 14158.82% -158.24% 16.73%
Basic Earnings Per Share $8.04 -$3.71 $0.42
Diluted Earnings Per Share $7.96 -$3.71 $0.42
COMMON SHARES
Basic Shares Outstanding 1.284M shares 1.284M shares 1.267M shares
Diluted Shares Outstanding 1.298M shares 1.280M shares 1.267M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.82M $5.605M $8.775M
YoY Change 77.09% -36.12% -47.86%
Cash & Equivalents $14.82M $5.605M $8.775M
Short-Term Investments
Other Short-Term Assets $378.9K $539.2K $590.7K
YoY Change -62.11% -8.72% -17.69%
Inventory $77.80K $2.134M $3.061M
Prepaid Expenses
Receivables $12.73K $2.103M $1.947M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $15.29M $10.38M $14.37M
YoY Change 13.86% -27.77% -30.12%
LONG-TERM ASSETS
Property, Plant & Equipment $6.654K $25.09K $45.73K
YoY Change -84.54% -45.14% -51.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $6.654K $25.09K $45.73K
YoY Change -84.54% -45.14% -99.59%
TOTAL ASSETS
Total Short-Term Assets $15.29M $10.38M $14.37M
Total Long-Term Assets $6.654K $25.09K $45.73K
Total Assets $15.30M $10.41M $14.42M
YoY Change 13.54% -27.82% -54.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $113.4K $413.3K $888.6K
YoY Change -88.49% -53.49% -22.49%
Accrued Expenses $796.6K $857.8K $508.7K
YoY Change 76.04% 68.62% -25.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $917.3K $1.271M $2.178M
YoY Change -54.05% -41.64% 19.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $631.3K $5.722M $3.759M
YoY Change -85.11% 52.2%
Total Long-Term Liabilities $631.3K $5.722M $3.759M
YoY Change -85.11% 52.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $917.3K $1.271M $2.178M
Total Long-Term Liabilities $631.3K $5.722M $3.759M
Total Liabilities $1.549M $6.993M $5.937M
YoY Change -75.16% 17.78% 225.07%
SHAREHOLDERS EQUITY
Retained Earnings -$87.99M -$98.31M -$93.19M
YoY Change -6.76% 5.5% 10.81%
Common Stock $1.284K $1.284K $1.267K
YoY Change 1.34% 1.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $13.75M $3.414M $8.482M
YoY Change
Total Liabilities & Shareholders Equity $15.30M $10.41M $14.42M
YoY Change 13.54% -27.82% -54.4%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $10.32M -$4.747M $533.1K
YoY Change -980.61% -990.42% -120.36%
Depreciation, Depletion And Amortization $4.570K $4.790K $4.790K
YoY Change -5.38% 0.0% -98.49%
Cash From Operating Activities -$1.080M -$754.6K -$1.879M
YoY Change 165.72% -59.84% -15.6%
INVESTING ACTIVITIES
Capital Expenditures $1.654K
YoY Change -168.92%
Acquisitions
YoY Change
Other Investing Activities $16.25M $0.00
YoY Change -100.0%
Cash From Investing Activities $16.25M -$1.654K
YoY Change -759445.79% -99.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.952M -$5.250M
YoY Change -152.66%
NET CHANGE
Cash From Operating Activities -1.080M -$754.6K -$1.879M
Cash From Investing Activities 16.25M -$1.654K
Cash From Financing Activities -5.952M -$5.250M
Net Change In Cash 9.218M -$754.6K -$7.131M
YoY Change -2355.72% -89.42% -1065.52%
FREE CASH FLOW
Cash From Operating Activities -$1.080M -$754.6K -$1.879M
Capital Expenditures $1.654K
Free Cash Flow -$754.6K -$1.881M
YoY Change -59.88% -15.43%

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CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_ziXTGdn931rh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_863_zvo5lJmcSQxi">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. On an ongoing basis, management reviews its estimates and if deemed appropriate, those estimates are adjusted. Significant estimates include those related to assumptions used in valuing inventories at net realizable value, assumptions used in valuing stock-based compensation, the valuation allowance for deferred tax assets, accruals for potential liabilities, and assumptions used in the determination of the Company’s liquidity. Actual results could differ materially from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1840 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2999645 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3185689 usd
CY2024Q1 GHSI Third Party Outsourcing
ThirdPartyOutsourcing
1509600 usd
CY2023Q1 GHSI Third Party Outsourcing
ThirdPartyOutsourcing
1937000 usd
CY2024Q1 us-gaap Advertising Expense
AdvertisingExpense
337364 usd
CY2023Q1 us-gaap Advertising Expense
AdvertisingExpense
479866 usd
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zOi1wiKCMq93" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zg8h2T7KnARk">Concentrations</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Revenue. </i>During the three months ended March 31, 2024, the Company had two customers that accounted for an aggregate of <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zAE7mLb3e99k" title="Concentration risk percentage">72</span>% of total revenue. The largest customer accounted for <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--LargestCustomerMember_zz9RSxeceEGk" title="Concentration risk percentage">46</span>% of the Company’s total revenue, the second largest customer accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondLargestCustomerMember_ztI9DeNKQSgj" title="Concentration risk percentage">26</span>% of the Company’s total revenue. During the three months ended March 31, 2023, the Company had three customers that accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zjQgCCIqWPKg" title="Concentration risk percentage">80</span>% of the Company’s total revenue. The largest customer accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--LargestCustomerMember_zbfycKRlJHV7" title="Concentration risk percentage">59</span>% of the Company’s total revenue, the second largest customer accounted for <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zWZGFsdtZz14" title="Concentration risk percentage">11</span>% of the Company’s total revenue and the third largest customer accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThirdLargestCustomersMember_zaLY3Wxqcg56" title="Concentration risk percentage">10</span>% of the Company’s revenue. No other customer accounted for more than <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zoCL47o2jws1" title="Concentration risk percentage"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zpBS9feRLcvh" title="Concentration risk percentage">10</span></span>% of revenue during the three months ended March 31, 2024 and 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Accounts receivable</i>. As of </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 31, 2024<span style="background-color: white">, the Company had accounts receivable from two customers which comprised approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zJ4fkW0sjasb" title="Concentration Risk, Percentage">81</span>% of its accounts receivable. The largest customer accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--LargestCustomerMember_zR5uQD0e9An9" title="Concentration Risk, Percentage">61</span>% of the accounts receivable total and the other customer accounted for <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__us-gaap--OtherCustomerMember_zODmrzDrga15" title="Concentration Risk, Percentage">20</span>%. As of </span>December 31, 2023<span style="background-color: white">, the Company had accounts receivable from one customer which comprised approximately <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomersMember_zc9MAUGQCawg" title="Concentration risk percentage">57</span>% of its accounts receivable and one customer that accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zRm1EsfNjtqc" title="Concentration Risk, Percentage">18</span>% of its accounts receivable. No other customer accounted for more than <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zmG6tBMfnZma" title="Concentration risk percentage"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zVYoI71n7s6l" title="Concentration risk percentage">10</span></span>% of accounts receivable as of </span>March 31, 2024 <span style="background-color: white">and December 31, 2023.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Purchases from vendors</i>. During the </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">three months ended March 31, 2024 and 2023<span style="background-color: white">, the Company utilized one manufacturer for most of its production and packaging of its dietary supplement products. Total purchases from this manufacturer accounted for approximately <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneManufacturerMember_zPzEjncUTuKk">40</span>% of all purchases during the three months ended </span>March 31, 2024 <span style="background-color: white">and approximately <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneManufacturerMember_zk9tROKb9pr9">49</span>% of all purchases during the three months ended March 31, 2023. The Company utilized a firm to manage and handle media and advertising of its dietary supplement products. Total purchases from this vendor accounted for approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorMember_z2C9aI2FIya1">10</span>% and <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorMember_zMMVjhdnCwQl">13</span>% of all purchases during the three months ended </span>March 31, 2024 and 2023, respectively. No other vendors accounted for more than <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoOtherVendorMember_zhjG6S9Aa3P8"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoOtherVendorMember_zxC9Su4vv9y1">10</span></span>% of purchases during the three months ended March 31, 2024 and 2023<span style="background-color: white">.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><i>Accounts payable</i>. As of </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 31, 2024<span style="background-color: white">, two vendors accounted for <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoVendorsMember_zhmEDXTEQyxa" title="Concentration Risk, Percentage">82</span>% of total accounts payable. One vendor accounted for <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zPqm7kZ9YT48" title="Concentration Risk, Percentage">72</span>% and a second vendor accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecondVendorMember_z1L2FdELkpxk" title="Concentration Risk, Percentage">10</span>% of the accounts payable at March 31, 2024. As of </span>December 31, 2023, <span style="background-color: white">one vendor accounted for <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneVendorMember_zvR6jKe8zvx8" title="Concentration Risk, Percentage">91</span>% of the total accounts payable. No other vendor accounted for more than <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoOtherVendorMember_zgNvPtlnv8Xb" title="Concentration Risk, Percentage"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoOtherVendorMember_zKrzAyOBwiJg" title="Concentration Risk, Percentage">10</span></span>% of accounts payable as of </span>March 31, 2024 <span style="background-color: white">and December 31, 2023.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash and cash equivalents.</i> Cash and cash equivalents consist of funds deposited with BMO Harris Bank(“BMO”), a major, established, high quality financial institution in short-term (original maturity of generally 60 days or less) liquid investments in money market deposit accounts. Cash equivalents are classified as Level 1 in the GAAP valuation hierarchy and are valued using the net asset value (“NAV”) per share of the money market fund. The Company has an overnight investment feature established with BMO whereby the Company’s cash is swept into a Money Market Mutual Fund managed by Goldman Sachs Asset Management. This fund invests solely in high quality U.S. government issued securities. As of March 31, 2024, $<span id="xdx_90B_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20240331_z2jtO5XgF299" title="Cash">5,605,035</span> included in cash and cash equivalents was held in the Goldman Sachs Financial Square Government Institutional Fund, a fund that is not insured by the Federal Deposit Insurance Corporation (the “FDIC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company routinely has cash balances in financial institutions in excess of the FDIC and SIPC insurance limits of $<span id="xdx_907_eus-gaap--CashFDICInsuredAmount_iI_c20240331_zON3WBg8dABk" title="Cash FDIC insured amount">250,000</span> and $<span id="xdx_908_ecustom--CashSIPCInsuredAmount_iI_c20240331_zZXVQHMtUDqd" title="Cash SIPC insured amount">500,000</span>, respectively. The Company believes that no significant concentration of credit risk exists with respect to its cash balances because of its assessment of the creditworthiness and financial viability of the financial institutions that hold such cash balances. The Company has not experienced any losses to date resulting from this policy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5605035 usd
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q1 GHSI Cash Sipc Insured Amount
CashSIPCInsuredAmount
500000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
757348 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1539827 shares
CY2024Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
5721688 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
2453100 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
2453100 usd
CY2024Q1 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
-3268588 usd
CY2024Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
5721688 usd
CY2024Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
35405 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
35404 usd
CY2024Q1 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
2098808 usd
CY2023Q4 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
2641708 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
2134213 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2677112 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3000 usd
CY2024Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
5721688 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
2453100 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
5250000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
4750000 usd
CY2023Q1 GHSI Proceeds From Issuance Of Private Placement Additional
ProceedsFromIssuanceOfPrivatePlacementAdditional
500000 usd
CY2023Q1 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1.05 pure
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1284156 shares
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1284156 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1275238 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1275238 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
736438 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
20577 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
77.72
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
20577 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
77.72
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M20D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
13153 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
116.19
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y9M3D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
20577 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
13153 shares
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
12615 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
25182 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
7424 shares
CY2024Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
123000 usd
CY2024Q1 GHSI Share Based Compensation Amortized Period
ShareBasedCompensationAmortizedPeriod
P4Y6M
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedIntrinsicValue
9.02
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
34138 usd
CY2024Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
0 shares
CY2024Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
5700000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001493152-24-018930-index-headers.html Edgar Link pending
0001493152-24-018930-index.html Edgar Link pending
0001493152-24-018930.txt Edgar Link pending
0001493152-24-018930-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
ghsi-20240331.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
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ghsi-20240331_def.xml Edgar Link unprocessable
ghsi-20240331_lab.xml Edgar Link unprocessable
ghsi-20240331_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
R18.htm Edgar Link pending
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R2.htm Edgar Link pending
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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
ghsi-20240331_cal.xml Edgar Link unprocessable