$HCMC
Healthier Choices Management Corp.

2023 Q1 Form 10-K Financial Statement

#000084485623000010 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $13.56M $12.31M $29.27M
YoY Change 168.59% 284.83% 119.72%
Cost Of Revenue $8.645M $8.256M $19.04M
YoY Change 181.05% 269.08% 137.23%
Gross Profit $4.914M $4.054M $10.22M
YoY Change 149.14% 321.46% 93.18%
Gross Profit Margin 36.24% 32.93% 34.93%
Selling, General & Admin $6.897M $7.865M $18.88M
YoY Change 107.29% 129.05% 88.15%
% of Gross Profit 140.35% 194.03% 184.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $142.6K $409.5K $300.0K
YoY Change -26.26% 247.38% 200.0%
% of Gross Profit 2.9% 10.1% 2.93%
Operating Expenses $6.897M $7.865M $18.88M
YoY Change 107.29% 129.05% 88.15%
Operating Profit -$1.983M -$3.812M -$8.653M
YoY Change 46.36% 54.19% 82.54%
Interest Expense $93.19K $113.6K $202.7K
YoY Change 363.4% 10514.02% 210.43%
% of Operating Profit
Other Income/Expense, Net $75.75K $1.219M $1.435M
YoY Change 104.77% -4062833.33% 104.18%
Pretax Income -$1.907M -$2.479M -$7.218M
YoY Change 44.72% 0.33% 78.77%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.907M -$2.479M -$7.218M
YoY Change 44.72% 0.33% 78.77%
Net Earnings / Revenue -14.07% -20.14% -24.66%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 346.3B 339.7B 339.7B
Diluted Shares Outstanding 341.7B 339.7B

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.77M $22.92M $22.92M
YoY Change -4.09% -13.57% -13.57%
Cash & Equivalents $21.49M $24.69M $22.91M
Short-Term Investments $5.310K $9.770K $9.770K
Other Short-Term Assets $944.5K $1.224M $3.325M
YoY Change 216.13% 168.22% 628.44%
Inventory $3.967M $3.817M $3.817M
Prepaid Expenses
Receivables $100.6K $55.82K $55.82K
Other Receivables $172.9K $189.2K $189.2K
Total Short-Term Assets $27.26M $30.31M $30.31M
YoY Change 15.74% 5.33% 5.33%
LONG-TERM ASSETS
Property, Plant & Equipment $3.097M $3.113M $13.72M
YoY Change -53.76% 1658.82% 268.67%
Goodwill $5.747M $5.747M
YoY Change 527.4%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $475.4K $476.2K $476.2K
YoY Change 321.18% 457.37% 457.35%
Total Long-Term Assets $25.10M $24.95M $24.95M
YoY Change 111.26% 339.98% 339.98%
TOTAL ASSETS
Total Short-Term Assets $27.26M $30.31M $30.31M
Total Long-Term Assets $25.10M $24.95M $24.95M
Total Assets $52.36M $55.26M $55.26M
YoY Change 47.76% 60.42% 60.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.977M $5.715M $5.715M
YoY Change 141.75% 247.89% 247.89%
Accrued Expenses $2.036M $2.229M $2.229M
YoY Change 235.42% 409.65% 409.65%
Deferred Revenue $200.4K $198.6K
YoY Change 756.87%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $543.9K $536.5K $989.8K
YoY Change 19.32% 27.55% 135.3%
Total Short-Term Liabilities $9.008M $9.907M $9.907M
YoY Change 167.65% 292.53% 292.53%
LONG-TERM LIABILITIES
Long-Term Debt $2.239M $2.378M $2.378M
YoY Change 1599217.14% 289907.44% 289907.32%
Other Long-Term Liabilities $8.657M $8.041M $8.041M
YoY Change 108.46% 199.49% 199.49%
Total Long-Term Liabilities $2.239M $2.378M $10.42M
YoY Change -46.09% -11.46% 287.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.008M $9.907M $9.907M
Total Long-Term Liabilities $2.239M $2.378M $10.42M
Total Liabilities $19.90M $20.33M $20.33M
YoY Change 164.73% 290.16% 290.16%
SHAREHOLDERS EQUITY
Retained Earnings -$45.52M -$43.61M
YoY Change 19.83%
Common Stock $34.64M $33.97M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.96M $20.21M $34.93M
YoY Change
Total Liabilities & Shareholders Equity $52.36M $55.26M $55.26M
YoY Change 47.76% 60.42% 60.42%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.907M -$2.479M -$7.218M
YoY Change 44.72% 0.33% 78.77%
Depreciation, Depletion And Amortization $142.6K $409.5K $300.0K
YoY Change -26.26% 247.38% 200.0%
Cash From Operating Activities -$2.344M -$1.190M -$3.866M
YoY Change 244.94% -19.82% 9.58%
INVESTING ACTIVITIES
Capital Expenditures $126.3K $241.6K $480.9K
YoY Change -199.19% -8207.05% 752.43%
Acquisitions
YoY Change
Other Investing Activities $16.32K -$5.126M -$10.23M
YoY Change -100.32% 8553.77% 55514.02%
Cash From Investing Activities -$109.9K -$5.367M -$10.73M
YoY Change -97.91% 8527.58% 12183.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -742.2K -86.88K 12.79M
YoY Change -2247.47% -33.05% -52.97%
NET CHANGE
Cash From Operating Activities -2.344M -1.190M -3.866M
Cash From Investing Activities -109.9K -5.367M -10.73M
Cash From Financing Activities -742.2K -86.88K 12.79M
Net Change In Cash -3.196M -6.644M -1.806M
YoY Change -45.9% 296.41% -107.66%
FREE CASH FLOW
Cash From Operating Activities -$2.344M -$1.190M -$3.866M
Capital Expenditures $126.3K $241.6K $480.9K
Free Cash Flow -$2.471M -$1.432M -$4.347M
YoY Change 347.28% -3.34% 21.27%

Facts In Submission

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CY2022 dei Security Exchange Name
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CY2022 dei Auditor Firm
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CY2022 dei Entity Registrant Name
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HEALTHIER CHOICES MANAGEMENT CORP.
CY2022 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2022 dei Entity File Number
EntityFileNumber
001-36469
CY2022 dei Entity Tax Identification Number
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84-1070932
CY2022 dei Entity Address Address Line1
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3800 North 28th Way
CY2022 dei Entity Address City Or Town
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Hollywood
CY2022 dei Entity Address State Or Province
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FL
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305
CY2022 dei Local Phone Number
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600-5004
CY2022 dei Security12b Title
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Common Stock, par value $0.0001 per share
CY2022 dei Trading Symbol
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HCMC
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No
CY2022 dei Entity Voluntary Filers
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CY2022 dei Entity Filer Category
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true
CY2022 dei Entity Emerging Growth Company
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CY2022 dei Auditor Name
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Marcum LLP
CY2022 dei Auditor Name
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Marcum LLP
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New York, NY
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<div style="text-align: left; font-family: 'Times New Roman'; 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'; font-size: 10pt;">The preparation of 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 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, 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’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>
CY2022 hcmc Shipping Handling And Transportations Cost
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0383
CY2022 us-gaap Lease Cost
LeaseCost
1500000
CY2021 us-gaap Lease Cost
LeaseCost
900000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
759207
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
403329
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
377024
CY2022 us-gaap Lease Cost
LeaseCost
1539560
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1077000
CY2022 hcmc Effective Income Tax Rate Reconciliation True Up And Deferred Adjustment Amount
EffectiveIncomeTaxRateReconciliationTrueUpAndDeferredAdjustmentAmount
144
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
17030852
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
14136491
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
0
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
30156
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
36436
CY2021Q4 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
0
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
149402
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
27540
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
0
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
27540
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
0
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
19653342
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
2733655
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
734615
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29267003
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13319854
CY2022 us-gaap Gross Profit
GrossProfit
10224218
CY2021 us-gaap Gross Profit
GrossProfit
5292554
CY2022 us-gaap Operating Expenses
OperatingExpenses
18877302
CY2021 us-gaap Operating Expenses
OperatingExpenses
10033048
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-8653084
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-4740494
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1435473
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
703035
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-7217611
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-4037459
CY2022Q4 hcmc Employee Retention Credit Eligible Amount
EmployeeRetentionCreditEligibleAmount
930000

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