$HCMC
Healthier Choices Management Corp.

2020 Q4 Form 10-Q Financial Statement

#000084485620000042 Filed on November 18, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $3.228M $3.348M $3.309M
YoY Change -7.74% -2.06% -13.31%
Cost Of Revenue $1.894M $1.986M $1.936M
YoY Change -4.47% -1.46% -10.17%
Gross Profit $1.334M $1.362M $1.373M
YoY Change -12.01% -2.92% -17.39%
Gross Profit Margin 41.33% 40.69% 41.5%
Selling, General & Admin $2.109M $2.195M
YoY Change -10.62% -13.32%
% of Gross Profit 158.12% 161.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $126.1K $137.5K $138.7K
YoY Change -13.57% -6.36% -7.49%
% of Gross Profit 9.45% 10.09% 10.1%
Operating Expenses $2.109M $2.576M $2.168M
YoY Change -10.62% 1.71% -14.45%
Operating Profit -$775.2K -$1.214M -$794.9K
YoY Change -8.13% 7.48% -8.87%
Interest Expense -$136.2K -$87.16K -$23.82K
YoY Change -108.17% 319.24% -25.84%
% of Operating Profit
Other Income/Expense, Net $0.00 -$87.16K -$23.82K
YoY Change -100.0% 316.25% -25.84%
Pretax Income -$911.5K -$1.301M -$818.7K
YoY Change -347.83% 13.1% -9.47%
Income Tax
% Of Pretax Income
Net Earnings -$911.5K -$1.301M -$818.7K
YoY Change -347.83% 13.1% -9.47%
Net Earnings / Revenue -28.24% -38.86% -24.74%
Basic Earnings Per Share
Diluted Earnings Per Share -$8.44 -$12.74 -$10.08
COMMON SHARES
Basic Shares Outstanding 105.1B 102.1B 85.44B
Diluted Shares Outstanding 102.1B

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $948.2K $612.6K $1.160M
YoY Change -73.29% -85.69% -77.2%
Cash & Equivalents $925.5K $602.3K $1.147M
Short-Term Investments $22.73K $10.29K $12.86K
Other Short-Term Assets $286.1K $328.0K $298.5K
YoY Change 6.02% 7.1% -19.26%
Inventory $1.749M $1.786M $1.780M
Prepaid Expenses
Receivables $23.68K $85.53K $26.99K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.007M $2.812M $3.265M
YoY Change -17.42% -56.94% -56.64%
LONG-TERM ASSETS
Property, Plant & Equipment $230.7K $258.8K $287.8K
YoY Change -30.57% -26.83% -94.3%
Goodwill $916.0K $916.0K $956.0K
YoY Change -4.18% -36.27%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $89.60K $89.60K $142.7K
YoY Change -38.99% -39.41% -1.01%
Total Long-Term Assets $8.868M $11.55M $9.912M
YoY Change -14.44% 29.96% 7.68%
TOTAL ASSETS
Total Short-Term Assets $3.007M $2.812M $3.265M
Total Long-Term Assets $8.868M $11.55M $9.912M
Total Assets $11.87M $14.36M $13.18M
YoY Change -15.22% -6.84% -21.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.091M $929.8K
YoY Change 28.14% -5.97%
Accrued Expenses $474.7K $502.3K $536.2K
YoY Change -14.62% 6.39% 8.3%
Deferred Revenue $21.26K $19.40K $21.39K
YoY Change -20.73% -88.87%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.072M $5.392M $2.651M
YoY Change 78.43% 136.27% 16.16%
Total Short-Term Liabilities $5.654M $7.005M $4.139M
YoY Change 53.19% 27.37% -26.82%
LONG-TERM LIABILITIES
Long-Term Debt $849.0K $965.7K $1.237M
YoY Change -2.33% 2.75% 22.43%
Other Long-Term Liabilities $3.115M $3.225M $3.335M
YoY Change -12.14% -7.18% -6.46%
Total Long-Term Liabilities $3.964M $4.191M $4.573M
YoY Change -10.2% -5.06% -0.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.654M $7.005M $4.139M
Total Long-Term Liabilities $3.964M $4.191M $4.573M
Total Liabilities $9.618M $11.20M $8.711M
YoY Change 18.66% 12.93% -14.86%
SHAREHOLDERS EQUITY
Retained Earnings -$32.36M -$31.45M -$30.15M
YoY Change 13.0% 8.42%
Common Stock $14.38M $10.51M $8.756M
YoY Change 112.47% 55.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.257M $3.167M $4.466M
YoY Change
Total Liabilities & Shareholders Equity $11.87M $14.36M $13.18M
YoY Change -15.22% -6.84% -21.26%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$911.5K -$1.301M -$818.7K
YoY Change -347.83% 13.1% -9.47%
Depreciation, Depletion And Amortization $126.1K $137.5K $138.7K
YoY Change -13.57% -6.36% -7.49%
Cash From Operating Activities -$635.6K -$642.4K -$811.6K
YoY Change -6.59% -16.01% -21.14%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$13.86K
YoY Change -100.0% -100.0% -53.14%
Acquisitions
YoY Change
Other Investing Activities $15.11K $13.78K $2.630K
YoY Change -68.1% -72.5% -94.24%
Cash From Investing Activities $15.11K $13.78K -$11.23K
YoY Change -44.99% -66.96% -169.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.442M 2.470M 807.3K
YoY Change 1943.91% -3600.41% 1223.58%
NET CHANGE
Cash From Operating Activities -635.6K -642.4K -811.6K
Cash From Investing Activities 15.11K 13.78K -11.23K
Cash From Financing Activities -1.442M 2.470M 807.3K
Net Change In Cash -2.063M 1.841M -15.60K
YoY Change 185.1% -332.01% -98.36%
FREE CASH FLOW
Cash From Operating Activities -$635.6K -$642.4K -$811.6K
Capital Expenditures $0.00 $0.00 -$13.86K
Free Cash Flow -$635.6K -$642.4K -$797.8K
YoY Change -3.78% -15.07% -20.19%

Facts In Submission

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<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div><div><div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;">Reclassification</div><div><br /></div><div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Certain amounts in the consolidated financial statements and related notes have been reclassified to conform to the current year presentation. Such reclassifications do not impact the Company's previously reported financial position or net income (loss).</div></div><div><br /></div></div></div>
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ProceedsFromNotesPayable
0
us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
23767
us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
137250
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
332290
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
258774
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-3002
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2000000
CY2020Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4386081
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-28636479
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-31447418
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11615449
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10692877
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3418330
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3347793
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8057452
CY2020Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2195275
CY2019Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2532505
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6735815
us-gaap Share Based Compensation
ShareBasedCompensation
76154
us-gaap Share Based Compensation
ShareBasedCompensation
343824
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1875
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
147570
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
24000
CY2020Q3 us-gaap Short Term Investments
ShortTermInvestments
10286
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
3166946
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
5901731
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
6504066
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
4466036
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
8426769
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
5503544
hcmc Increase Decrease In Prepaid Expense And Vendor Deposits
IncreaseDecreaseInPrepaidExpenseAndVendorDeposits
58175
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><div><div style="text-align: justify; 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>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
84476736667
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66929136282
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
102108302961
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66734751470
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Period End Date
DocumentPeriodEndDate
2020-09-30
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Healthier Choices Management Corp.
dei Entity Central Index Key
EntityCentralIndexKey
0000844856
CY2020Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
105110848016
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Type
DocumentType
10-Q
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Shell Company
EntityShellCompany
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
true
CY2020Q3 hcmc Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
231872
hcmc Proceeds From Paycheck Protection Program Loan
ProceedsFromPaycheckProtectionProgramLoan
876515
hcmc Proceeds From Paycheck Protection Program Loan
ProceedsFromPaycheckProtectionProgramLoan
0
hcmc Increase Decrease In Lease Liability
IncreaseDecreaseInLeaseLiability
402857
hcmc Increase Decrease In Lease Liability
IncreaseDecreaseInLeaseLiability
373184
hcmc Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
428740
hcmc Amortization Of Right Of Use Asset
AmortizationOfRightOfUseAsset
459760
hcmc Increase Decrease In Prepaid Expense And Vendor Deposits
IncreaseDecreaseInPrepaidExpenseAndVendorDeposits
-94110
hcmc Stock Issued During Period Value Issuance Of Awarded To Board Members
StockIssuedDuringPeriodValueIssuanceOfAwardedToBoardMembers
0
CY2019Q3 hcmc Stock Issued During Period Value Issuance Of Awarded To Board Members
StockIssuedDuringPeriodValueIssuanceOfAwardedToBoardMembers
0
hcmc Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
3112
CY2019Q3 hcmc Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
2211
hcmc Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
0
CY2020Q3 hcmc Stock Issued During Period Value Cashless Exercise Of Warrants
StockIssuedDuringPeriodValueCashlessExerciseOfWarrants
0
hcmc Contract Liabilities Expected Period To Be Recognized
ContractLiabilitiesExpectedPeriodToBeRecognized
P24M
hcmc Contract With Customer Liability Issued
ContractWithCustomerLiabilityIssued
50778
hcmc Contract With Customer Liability Issued
ContractWithCustomerLiabilityIssued
33221
hcmc Contract With Customer Liability Redeemed
ContractWithCustomerLiabilityRedeemed
57319
hcmc Contract With Customer Liability Redeemed
ContractWithCustomerLiabilityRedeemed
39405
hcmc Contract With Customer Liability Breakage Recognized
ContractWithCustomerLiabilityBreakageRecognized
-341
hcmc Contract With Customer Liability Breakage Recognized
ContractWithCustomerLiabilityBreakageRecognized
-1563
hcmc Contract With Customer Liability Fulfillment Of Contract
ContractWithCustomerLiabilityFulfillmentOfContract
898
hcmc Contract With Customer Liability Fulfillment Of Contract
ContractWithCustomerLiabilityFulfillmentOfContract
260198
CY2020Q3 hcmc Prepaid Expense And Vendor Deposits Current
PrepaidExpenseAndVendorDepositsCurrent
328008
CY2019Q4 hcmc Prepaid Expense And Vendor Deposits Current
PrepaidExpenseAndVendorDepositsCurrent
269833
CY2020Q3 hcmc Class Of Warrant Or Right Expired
ClassOfWarrantOrRightExpired
355661
hcmc Stock Issued During Period Shares Cashless Exercise Of Warrants
StockIssuedDuringPeriodSharesCashlessExerciseOfWarrants
37412353771

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