$HIGR
Hi-Great Group Holding Co

2022 Q1 Form 10-Q Financial Statement

#000121390022043301 Filed on August 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021 Q1
Revenue $60.92K $41.04K $57.59K
YoY Change 5.78% -56.32% 123.3%
Cost Of Revenue $2.591K $11.43K $25.32K
YoY Change -89.77% -57.54% 59.32%
Gross Profit $43.10K $29.61K $17.92K
YoY Change 140.56% -55.83% 80.97%
Gross Profit Margin 70.75% 72.15% 31.11%
Selling, General & Admin $13.86K $27.38K $31.77K
YoY Change -56.37% 272.01% -37.28%
% of Gross Profit 32.16% 92.47% 177.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $13.86K $27.38K $54.27K
YoY Change -74.47% 272.01% 7.16%
Operating Profit $29.24K $2.230K -$36.35K
YoY Change -180.45% -96.26% -10.77%
Interest Expense $0.00 $187.00
YoY Change -100.0% -224.67%
% of Operating Profit 0.0%
Other Income/Expense, Net -$187.00
YoY Change
Pretax Income $29.24K $2.220K -$13.83K
YoY Change -311.42% -96.27% -66.18%
Income Tax
% Of Pretax Income
Net Earnings $29.24K $2.220K -$36.54K
YoY Change -180.03% -96.27% -10.64%
Net Earnings / Revenue 48.0% 5.41% -63.45%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $292.40 $22.20 -$138.30
COMMON SHARES
Basic Shares Outstanding 100.0M shares
Diluted Shares Outstanding 100.0M shares 100.0M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $163.7K $113.2K $54.74K
YoY Change 199.1% 370.76% 168.73%
Cash & Equivalents $163.7K $113.2K $54.74K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $44.34K $62.16K $16.56K
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $208.1K $175.3K $71.30K
YoY Change 191.83% 144.19% 200.46%
LONG-TERM ASSETS
Property, Plant & Equipment $111.0K $115.0K $120.1K
YoY Change -7.58% -8.91% 13.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $111.0K $115.0K $120.1K
YoY Change -7.59% -8.91% 13.57%
TOTAL ASSETS
Total Short-Term Assets $208.1K $175.3K $71.30K
Total Long-Term Assets $111.0K $115.0K $120.1K
Total Assets $319.1K $290.3K $191.4K
YoY Change 66.69% 46.59% 47.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.24K $58.74K $50.50K
YoY Change 23.25% 164.59% 32.89%
Accrued Expenses $68.12K $72.12K $79.62K
YoY Change -14.44% -3.01% 1545.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $17.47K
YoY Change -100.0% -100.0% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $131.2K $131.7K $148.4K
YoY Change -11.61% 14.66% 120.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $96.25K $96.25K $93.51K
YoY Change 2.93% 0.0% -11.58%
Total Long-Term Liabilities $96.25K $96.25K $93.51K
YoY Change 2.93% 0.0% -11.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.2K $131.7K $148.4K
Total Long-Term Liabilities $96.25K $96.25K $93.51K
Total Liabilities $227.4K $227.9K $241.9K
YoY Change -5.99% 7.98% 39.73%
SHAREHOLDERS EQUITY
Retained Earnings -$637.9K -$667.1K
YoY Change
Common Stock $100.0K $100.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $91.67K $62.42K -$49.35K
YoY Change
Total Liabilities & Shareholders Equity $319.1K $290.3K $191.4K
YoY Change 66.69% 46.59% 47.81%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021 Q1
OPERATING ACTIVITIES
Net Income $29.24K $2.220K -$36.54K
YoY Change -180.03% -96.27% -10.64%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $46.56K $7.950K $28.23K
YoY Change 64.96% -134.75% -78.64%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.000K $0.00 $6.140K
YoY Change -34.85% -100.0% -104.76%
Cash From Investing Activities $4.000K $0.00 $6.139K
YoY Change -34.84% -100.0% -104.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.800K -$3.662K
YoY Change -92.62% -136.62%
NET CHANGE
Cash From Operating Activities $46.56K 7.950K $28.23K
Cash From Investing Activities $4.000K 0.000 $6.139K
Cash From Financing Activities -7.800K -$3.662K
Net Change In Cash $50.56K 150.0 $30.70K
YoY Change 64.68% -100.66% 133.48%
FREE CASH FLOW
Cash From Operating Activities $46.56K $7.950K $28.23K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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On March 19, 2020, the Company entered in a licensing agreement with SellaCare, Inc. for the licensing of Patents and all future products developed by the SellaCare, Inc. The licensing agreement calls for the Company to pay 25% of all Gross revenues or $1,000, whichever is greater and not less than $1,000, beginning April 30, 2020 and payable the 15th of every month thereafter. 
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Use of estimates</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with 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. Actual results may differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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CY2021Q1 higr Proceeds From Notes Receivable Related Party
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usd
CY2022Q1 higr Proceed From Notes Payable Related Party
ProceedFromNotesPayableRelatedParty
usd
CY2021Q1 higr Proceed From Notes Payable Related Party
ProceedFromNotesPayableRelatedParty
usd
CY2022Q1 higr Operating Lease Obligation
OperatingLeaseObligation
usd
CY2022Q1 higr Retained Earnings
RetainedEarnings
usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2022Q1 higr Forgiveness Of Note Receivable Related Party
ForgivenessOfNoteReceivableRelatedParty
usd
CY2021Q1 higr Forgiveness Of Note Receivable Related Party
ForgivenessOfNoteReceivableRelatedParty
usd
CY2021Q1 us-gaap Stock Issued1
StockIssued1
usd
CY2022Q1 dei Amendment Flag
AmendmentFlag
false
CY2022Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2022Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2022Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001807616
CY2022Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
usd
CY2022Q1 us-gaap Interest Payable Current
InterestPayableCurrent
usd
CY2022Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
usd
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd

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0001213900-22-043301-index.html Edgar Link pending
0001213900-22-043301.txt Edgar Link pending
0001213900-22-043301-xbrl.zip Edgar Link pending
f10q0322ex31-1_higreatgroup.htm Edgar Link pending
f10q0322ex31-2_higreatgroup.htm Edgar Link pending
f10q0322ex32_higreatgroup.htm Edgar Link pending
f10q0322_higreatgroup.htm Edgar Link pending
f10q0322_higreatgroup_htm.xml Edgar Link completed
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higr-20220331.xsd Edgar Link pending
higr-20220331_cal.xml Edgar Link unprocessable
higr-20220331_def.xml Edgar Link unprocessable
higr-20220331_lab.xml Edgar Link unprocessable
higr-20220331_pre.xml Edgar Link unprocessable
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