$HCMC
Healthier Choices Management Corp.

2020 Q2 Form 10-Q Financial Statement

#000084485620000019 Filed on July 01, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $3.309M $4.036M $4.380M
YoY Change -13.31% -7.85% 21.42%
Cost Of Revenue $1.936M $2.328M $2.477M
YoY Change -10.17% -6.01% 26.2%
Gross Profit $1.373M $1.708M $1.903M
YoY Change -17.39% -10.25% 15.71%
Gross Profit Margin 41.5% 42.31% 43.44%
Selling, General & Admin $2.990M
YoY Change -4.63%
% of Gross Profit 157.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $138.7K $147.8K $152.3K
YoY Change -7.49% -2.94% 73.97%
% of Gross Profit 10.1% 8.66% 8.0%
Operating Expenses $2.168M $2.372M $2.990M
YoY Change -14.45% -20.67% -4.63%
Operating Profit -$794.9K -$664.5K -$1.088M
YoY Change -8.87% -38.9% -27.06%
Interest Expense -$23.82K -$26.73K -$24.27K
YoY Change -25.84% 10.14% -313.08%
% of Operating Profit
Other Income/Expense, Net -$23.82K -$26.81K -$24.97K
YoY Change -25.84% 7.36% -111.89%
Pretax Income -$818.7K -$691.3K -$1.113M
YoY Change -9.47% -37.86% -12.37%
Income Tax
% Of Pretax Income
Net Earnings -$818.7K -$691.3K -$1.113M
YoY Change -9.47% -37.86% -12.37%
Net Earnings / Revenue -24.74% -17.13% -25.4%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share -$10.08 $0.00 -$16.70
COMMON SHARES
Basic Shares Outstanding 85.44B 69.72B 66.63B shares
Diluted Shares Outstanding 69.72B

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.160M $3.177M $6.060M
YoY Change -77.2% -47.58% -20.88%
Cash & Equivalents $1.147M $3.163M $5.995M
Short-Term Investments $12.86K $14.14K $65.14K
Other Short-Term Assets $298.5K $248.7K $443.7K
YoY Change -19.26% -43.95% 302.23%
Inventory $1.780M $1.717M $1.926M
Prepaid Expenses
Receivables $26.99K $66.48K $57.96K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.265M $5.209M $8.487M
YoY Change -56.64% -38.63% -3.71%
LONG-TERM ASSETS
Property, Plant & Equipment $287.8K $304.3K $5.251M
YoY Change -94.3% -94.2% 863.6%
Goodwill $956.0K $956.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $142.7K $142.9K $143.6K
YoY Change -1.01% -0.48% 22.83%
Total Long-Term Assets $9.912M $8.147M $9.535M
YoY Change 7.68% -14.55% 258.15%
TOTAL ASSETS
Total Short-Term Assets $3.265M $5.209M $8.487M
Total Long-Term Assets $9.912M $8.147M $9.535M
Total Assets $13.18M $13.36M $18.02M
YoY Change -21.26% -25.89% 57.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $929.8K $999.6K $1.296M
YoY Change -5.97% -22.9% 180.41%
Accrued Expenses $536.2K $546.7K $525.1K
YoY Change 8.3% 4.11% 12.94%
Deferred Revenue $21.39K $23.07K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.651M $2.282M $2.151M
YoY Change 16.16% 6.12% 100400.47%
Total Short-Term Liabilities $4.139M $3.852M $5.935M
YoY Change -26.82% -35.11% -47.1%
LONG-TERM LIABILITIES
Long-Term Debt $1.237M $798.6K $1.081M
YoY Change 22.43% -26.12% 10808.07%
Other Long-Term Liabilities $3.335M $3.414M $3.681M
YoY Change -6.46% -7.27%
Total Long-Term Liabilities $4.573M $4.212M $4.762M
YoY Change -0.08% -11.55% 47955.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.139M $3.852M $5.935M
Total Long-Term Liabilities $4.573M $4.212M $4.762M
Total Liabilities $8.711M $8.064M $10.70M
YoY Change -14.86% -24.62% -4.74%
SHAREHOLDERS EQUITY
Retained Earnings -$30.15M -$29.33M
YoY Change
Common Stock $8.756M $7.250M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.466M $5.292M $7.325M
YoY Change
Total Liabilities & Shareholders Equity $13.18M $13.36M $18.02M
YoY Change -21.26% -25.89% 57.04%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$818.7K -$691.3K -$1.113M
YoY Change -9.47% -37.86% -12.37%
Depreciation, Depletion And Amortization $138.7K $147.8K $152.3K
YoY Change -7.49% -2.94% 73.97%
Cash From Operating Activities -$811.6K -$199.3K -$1.061M
YoY Change -21.14% -81.21% 379.89%
INVESTING ACTIVITIES
Capital Expenditures -$13.86K $89.42K $0.00
YoY Change -53.14% -100.0%
Acquisitions
YoY Change
Other Investing Activities $2.630K $7.360K $41.47K
YoY Change -94.24% -82.25%
Cash From Investing Activities -$11.23K -$92.86K $41.47K
YoY Change -169.75% -323.9% -1695.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 807.3K -70.57K -47.21K
YoY Change 1223.58% 49.49% 8979.04%
NET CHANGE
Cash From Operating Activities -811.6K -199.3K -1.061M
Cash From Investing Activities -11.23K -92.86K 41.47K
Cash From Financing Activities 807.3K -70.57K -47.21K
Net Change In Cash -15.60K -362.7K -1.067M
YoY Change -98.36% -65.99% 375.77%
FREE CASH FLOW
Cash From Operating Activities -$811.6K -$199.3K -$1.061M
Capital Expenditures -$13.86K $89.42K $0.00
Free Cash Flow -$797.8K -$288.7K -$1.061M
YoY Change -20.19% -72.79% 385.6%

Facts In Submission

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CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
24000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
81944
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
113079
CY2020Q1 us-gaap Short Term Investments
ShortTermInvestments
14143
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
5901731
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
5292381
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
8426769
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
7324754
CY2020Q1 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
2366651
CY2020Q1 hcmc Contract With Customer Liability Fulfillment Of Contract
ContractWithCustomerLiabilityFulfillmentOfContract
0
CY2019Q1 hcmc Contract With Customer Liability Fulfillment Of Contract
ContractWithCustomerLiabilityFulfillmentOfContract
201787
CY2020Q1 hcmc Prepaid Expense And Vendor Deposits Current
PrepaidExpenseAndVendorDepositsCurrent
248661
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div><div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Use of Estimates in the Preparation of the Financial Statements</div><div><br /></div><div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The preparation of condensed consolidated financial statements in conformity with GAAP 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 condensed consolidated financial statements, and the reported amounts of net revenue and expenses during the reporting periods. Actual results could differ from those estimates. These estimates and assumptions include allowances, reserves and write-downs of receivables and inventory, valuing equity securities and hybrid instruments, share-based payment arrangements, deferred taxes and related valuation allowances, and the valuation of the assets and liabilities acquired in business combinations. Certain of management&#8217;s estimates could be affected by external conditions, including those unique to our industry, and general economic conditions. It is possible that these external factors could have an effect on our estimates that could cause actual results to differ from our estimates. The Company re-evaluates all of its accounting estimates at least quarterly based on these conditions and records adjustments when necessary.</div><div><br /></div></div></div>
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66624914548
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
69716324179
CY2019Q1 hcmc Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
143233
CY2020Q1 hcmc Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
140374
CY2020Q1 hcmc Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
158724
CY2019Q1 hcmc Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
162782
CY2020Q1 hcmc Increase Decrease In Prepaid Expense And Vendor Deposits
IncreaseDecreaseInPrepaidExpenseAndVendorDeposits
-21171
CY2019Q1 hcmc Increase Decrease In Prepaid Expense And Vendor Deposits
IncreaseDecreaseInPrepaidExpenseAndVendorDeposits
43276
CY2020Q1 hcmc Class Of Warrant Or Right Warrant Common Stock Equivalent Cashless Exercises For Common Stock
ClassOfWarrantOrRightWarrantCommonStockEquivalentCashlessExercisesForCommonStock
4800000000
CY2020Q1 hcmc Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
0
CY2019Q1 hcmc Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
450
CY2020Q1 hcmc Contract Liabilities Expected Period To Be Recognized
ContractLiabilitiesExpectedPeriodToBeRecognized
P24M
CY2019Q1 hcmc Contract With Customer Liability Issued
ContractWithCustomerLiabilityIssued
74894
CY2020Q1 hcmc Contract With Customer Liability Issued
ContractWithCustomerLiabilityIssued
60309
CY2020Q1 hcmc Contract With Customer Liability Redeemed
ContractWithCustomerLiabilityRedeemed
63509
CY2019Q1 hcmc Contract With Customer Liability Redeemed
ContractWithCustomerLiabilityRedeemed
74387
CY2020Q1 hcmc Contract With Customer Liability Breakage Recognized
ContractWithCustomerLiabilityBreakageRecognized
-556
CY2019Q4 hcmc Prepaid Expense And Vendor Deposits Current
PrepaidExpenseAndVendorDepositsCurrent
269833

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