2024 Q2 Form 10-K Financial Statement

#000121390024028696 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $795.1K $931.2K $5.722M
YoY Change -53.33% -19.38% -2.32%
Cost Of Revenue $414.0K $440.8K $2.348M
YoY Change -39.18% -38.19% -22.51%
Gross Profit $381.1K $490.4K $3.375M
YoY Change -62.74% 10.96% 19.3%
Gross Profit Margin 47.94% 52.67% 58.98%
Selling, General & Admin $861.5K $1.514M $3.623M
YoY Change 3.33% -19.87% -20.84%
% of Gross Profit 226.03% 308.77% 107.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.53K $88.27K $352.0K
YoY Change -66.55% -57.39% -57.56%
% of Gross Profit 7.75% 18.0% 10.43%
Operating Expenses $1.875M $1.603M $3.623M
YoY Change -25.06% 23.79% -75.04%
Operating Profit -$1.079M -$1.112M -$4.152M
YoY Change 35.26% 30.43% -52.06%
Interest Expense -$387.4K -$117.3K $21.33K
YoY Change -1090.13% -261.83% -96.4%
% of Operating Profit
Other Income/Expense, Net -$460.9K $0.00 $537.8K
YoY Change 141.44% -2456.01%
Pretax Income -$1.540M -$1.286M -$3.614M
YoY Change 55.76% -63.53% -55.2%
Income Tax
% Of Pretax Income
Net Earnings -$1.540M -$1.286M -$1.012M
YoY Change 53.51% -70.53% -88.52%
Net Earnings / Revenue -193.75% -138.07% -17.69%
Basic Earnings Per Share -$0.01 $0.00
Diluted Earnings Per Share -$0.01 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 281.1M shares 267.4M shares 262.9M shares
Diluted Shares Outstanding 281.8M shares 262.9M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $172.7K $247.2K $247.2K
YoY Change -81.21% 299.45% 299.45%
Cash & Equivalents $172.7K $247.2K
Short-Term Investments
Other Short-Term Assets $84.79K $50.10K $50.10K
YoY Change -100.0% -96.76% -96.76%
Inventory $96.43K $133.2K $133.2K
Prepaid Expenses
Receivables $38.56K $20.86K $25.97K
Other Receivables $1.663M $199.7K $199.7K
Total Short-Term Assets $2.006M $656.2K $656.2K
YoY Change 11.92% -69.4% -69.4%
LONG-TERM ASSETS
Property, Plant & Equipment $234.4K $290.8K $1.227M
YoY Change -33.2% -29.62% 28.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.05K $50.05K $50.05K
YoY Change -97.05% -1.69% -1.69%
Total Long-Term Assets $1.854M $3.624M $3.624M
YoY Change -50.33% 48.76% 48.76%
TOTAL ASSETS
Total Short-Term Assets $2.006M $656.2K $656.2K
Total Long-Term Assets $1.854M $3.624M $3.624M
Total Assets $3.860M $4.280M $4.280M
YoY Change -30.14% -6.56% -6.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $794.4K $612.0K $612.0K
YoY Change -46.06% -61.81% -61.81%
Accrued Expenses $73.01K $91.24K $326.0K
YoY Change -66.84% -73.51% -5.35%
Deferred Revenue $284.2K $271.8K
YoY Change -30.76% -52.72%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $342.7K $584.3K $584.3K
YoY Change -14.23% 81.66% 81.66%
Total Short-Term Liabilities $3.396M $2.412M $2.412M
YoY Change 2.31% -30.58% -30.58%
LONG-TERM LIABILITIES
Long-Term Debt $450.0K $450.0K $450.0K
YoY Change -6.25% 900.0% -9.09%
Other Long-Term Liabilities $438.6K $613.4K $613.4K
YoY Change 184.3% 106.83% 106.83%
Total Long-Term Liabilities $888.6K $1.063M $1.063M
YoY Change 40.09% 2263.09% 34.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.396M $2.412M $2.412M
Total Long-Term Liabilities $888.6K $1.063M $1.063M
Total Liabilities $4.284M $3.475M $3.475M
YoY Change 8.37% -18.54% -18.54%
SHAREHOLDERS EQUITY
Retained Earnings -$44.96M -$42.03M
YoY Change 10.82% 2.47%
Common Stock $28.20K $27.60K
YoY Change 6.46% 7.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$424.6K $804.7K $804.7K
YoY Change
Total Liabilities & Shareholders Equity $3.860M $4.280M $4.280M
YoY Change -30.14% -6.56% -6.56%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$1.540M -$1.286M -$1.012M
YoY Change 53.51% -70.53% -88.52%
Depreciation, Depletion And Amortization $29.53K $88.27K $352.0K
YoY Change -66.55% -57.39% -57.56%
Cash From Operating Activities -$858.7K -$1.192M -$4.145M
YoY Change 42.23% 98.59% -5.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $1.500K $1.500K
YoY Change -93.63%
Acquisitions
YoY Change
Other Investing Activities $1.188M $3.508M
YoY Change -773.0%
Cash From Investing Activities $0.00 $1.186M $3.506M
YoY Change -100.0% -743.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $850.0K
YoY Change -11.16%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.008M 202.0K $824.1K
YoY Change 267.78% -59.94% -50.89%
NET CHANGE
Cash From Operating Activities -858.7K -1.192M -$4.145M
Cash From Investing Activities 0.000 1.186M $3.506M
Cash From Financing Activities 1.008M 202.0K $824.1K
Net Change In Cash 149.2K 195.9K $185.3K
YoY Change -82.45% -303.48% -105.74%
FREE CASH FLOW
Cash From Operating Activities -$858.7K -$1.192M -$4.145M
Capital Expenditures $0.00 $1.500K $1.500K
Free Cash Flow -$858.7K -$1.194M -$4.146M
YoY Change 98.84% -5.48%

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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q4 us-gaap Stockholders Equity
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CY2023 us-gaap Stock Issued During Period Value Other
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CY2023 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
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CY2023 hlyk Fair Value Of Warrants Allocated To Proceeds Of Related Party Debt
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221899 usd
CY2023 hlyk Fair Value Of Warrants Allocated To Proceeds Of Third Party Debt
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15140 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
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33000 usd
CY2023 hlyk Fair Value Of Warrants Issued To Pay Liability
FairValueOfWarrantsIssuedToPayLiability
10820 usd
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CY2023 hlyk Incremental Fair Value Of Repriced Warrants
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CY2023 us-gaap Stock Issued During Period Value Issued For Services
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CY2023 us-gaap Net Income Loss
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CY2023Q4 us-gaap Stockholders Equity
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CY2023 us-gaap Net Income Loss
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CY2022 us-gaap Net Income Loss
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CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2023 hlyk Gain From Disposal Of Discontinued Operation
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CY2023 us-gaap Depreciation Depletion And Amortization
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352027 usd
CY2022 us-gaap Depreciation Depletion And Amortization
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CY2023 us-gaap Asset Impairment Charges
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CY2022 us-gaap Asset Impairment Charges
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CY2023 us-gaap Employee Benefits And Share Based Compensation
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CY2022 us-gaap Employee Benefits And Share Based Compensation
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CY2023 hlyk Gain From Expiration Of Liability Classified Equity Instruments
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CY2023 us-gaap Amortization Of Financing Costs And Discounts
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CY2022 us-gaap Amortization Of Financing Costs And Discounts
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CY2022 us-gaap Share Based Compensation
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CY2023 us-gaap Gains Losses On Extinguishment Of Debt
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CY2023 hlyk Gain From Realization Of Contingent Sale Consideration Receivable
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CY2023 hlyk Gain Loss On Change In Fair Value Of Contingent Acquisition Consideration
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CY2022 hlyk Gain Loss On Change In Fair Value Of Contingent Acquisition Consideration
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CY2023 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2023 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Inventories
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CY2023 us-gaap Increase Decrease In Contract With Customer Asset
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CY2022 us-gaap Increase Decrease In Contract With Customer Asset
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023 hlyk Increase Decrease In Right Of Use Lease Assets
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CY2022 hlyk Increase Decrease In Right Of Use Lease Assets
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CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2023 us-gaap Increase Decrease In Operating Lease Liability
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
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CY2023 us-gaap Increase Decrease In Contract With Customer Liability
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2022 us-gaap Payment For Contingent Consideration Liability Investing Activities
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CY2023 hlyk Proceeds From Sale Of Discontinued Operations
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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1500 usd
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Issuance Of Common Stock
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850000 usd
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CY2023 us-gaap Proceeds From Related Party Debt
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CY2022 us-gaap Proceeds From Related Party Debt
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260000 usd
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CY2022 us-gaap Proceeds From Notes Payable
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CY2022 us-gaap Repayments Of Related Party Debt
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28000 usd
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CY2022 us-gaap Repayments Of Notes Payable
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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1678015 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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824087 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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1678015 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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185331 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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61891 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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3291646 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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247222 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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61891 usd
CY2023 us-gaap Interest Paid Net
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CY2022 us-gaap Interest Paid Net
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CY2023 hlyk Common Stock To Be Issued Now Issued
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CY2022 hlyk Common Stock To Be Issued Now Issued
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CY2023 hlyk Net Carrying Value Of Equity Liabilitiesassets Written Off
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CY2022 hlyk Net Carrying Value Of Equity Liabilitiesassets Written Off
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023 hlyk Proceeds From Sale Of Common Stock Under Standby Equity Purchase Agreement Applied To Note
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18765 usd
CY2022 hlyk Proceeds From Sale Of Common Stock Under Standby Equity Purchase Agreement Applied To Note
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CY2022 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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CY2023 hlyk Fair Value Of Warrants Allocated To Proceeds Of Notes Payable
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187013 usd
CY2022 hlyk Fair Value Of Warrants Allocated To Proceeds Of Notes Payable
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35281 usd
CY2023 hlyk Fair Value Of Beneficial Conversion Feature Allocated To Proceeds Of Notes Payable
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33000 usd
CY2023 hlyk Fair Value Of Warrants Issued To Extend Debt
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50025 usd
CY2023 hlyk Warrant Liability Incurred In Connection With Collection Of Contingent Sale Consideration Receivable
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CY2023 hlyk Fair Value Of Shares Issued To Pay Vendor Accounts Payable Balance
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48881 usd
CY2022 hlyk Fair Value Of Shares Issued As Purchase Price Consideration
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103804 usd
CY2014Q3 hlyk Number Of Authorized Shares
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CY2023 us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Use of Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Accordingly, actual results could differ from those estimates. Significant estimates include assumptions about fair valuation of acquired intangible assets; cash flow and fair value assumptions associated with measurements of contingent sale consideration receivable, contingent acquisition consideration payable, and impairment of intangible assets and goodwill; valuation of inventory; collection of accounts receivable; the valuation and recognition of stock-based compensation expense; valuation allowance for deferred tax assets; and borrowing rate consideration for right-of-use (“ROU”) lease assets including related lease liability and useful life of fixed assets.</p>
CY2023Q4 us-gaap Cash Fdic Insured Amount
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CY2023Q4 hlyk Cash Balances In Excess Of Fdic Insured Limit
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CY2022Q4 hlyk Cash Balances In Excess Of Fdic Insured Limit
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CY2023 hlyk Percentage Of Customers Accounts Receivable Billings
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CY2023Q4 us-gaap Accounts Receivable Gross Current
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CY2022Q4 us-gaap Accounts Receivable Gross Current
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CY2022Q4 us-gaap Accounts Notes And Loans Receivable Net Current
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CY2023Q4 hlyk Consulting Accounts Receivable
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023 us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Concentrations of Credit Risk</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s financial instruments that are exposed to a concentration of credit risk are cash and accounts receivable. There are no patients/customers that represent 10% or more of the Company’s revenue or accounts receivable. Generally, the Company’s cash and cash equivalents are in checking accounts. The Company relies on a sole supplier for the fulfillment of substantially all of its product sales made through MOD.</p>
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1484488 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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30000000 shares
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1750000 usd
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CY2023 hlyk Aggregate Merger Consideration Percentage
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0.01 pure
CY2023 us-gaap Asset Acquisition Consideration Transferred Other Assets
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CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Intangible Assets Current
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CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Goodwill Current
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CY2022Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
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25000 usd
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CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
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CY2022 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
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CY2023 hlyk Cash Consideration Paid At Signing
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750000 usd
CY2023 hlyk Incremental Cash Consideration
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CY2023 hlyk Initial Public Offering Share Consideration
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CY2023 hlyk Two Zero Two Two Mssp Consideration
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CY2023 hlyk Physician Advance Consideration
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CY2023 hlyk Stub Period Reimbursement
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CY2023 hlyk Fair Value Of Contingent Consideration Receivable
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CY2023 hlyk Fair Value Of Consideration Received And Receivable
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CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Prepaid And Other Assets
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1500 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Intangible Assets
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1073000 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Goodwill1
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381856 usd
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CY2023Q4 hlyk Disposal Group Contingent Acquisition Consideration
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CY2023Q4 hlyk Discontinued Operation Amounts Of Net Book Value Of Assets And Liabilities Sold
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CY2023 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
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CY2023 hlyk Fair Value Of Consideration Received And Receivable
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CY2023Q4 us-gaap Sale Leaseback Transaction Net Book Value
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1251054 usd
CY2023Q4 hlyk Indemnification Liability
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CY2023 hlyk Gain From Disposal Of Discontinued Operations
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2674069 usd
CY2023Q4 us-gaap Other Receivables
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750000 usd
CY2023 hlyk Stub Period Reimbursement
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31381 usd
CY2023 hlyk Resolved Net Settlement Amount
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3496792 usd
CY2023 hlyk Estimated Fair Value On Sale
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-2405935 usd
CY2023 us-gaap Gain Loss On Condemnation
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1090857 usd
CY2023 us-gaap Sale Of Stock Consideration Received Per Transaction
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1463518 usd
CY2023 hlyk Physician Advance Consideration
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199645 usd
CY2023Q4 hlyk Contingent Sales Consideration Receivable Long Term Portion
ContingentSalesConsiderationReceivableLongTermPortion
1663163 usd
CY2023 hlyk Terms Of Acquisitions Description
TermsOfAcquisitionsDescription
Under the terms of acquisition, the Company paid AEU equity holders consideration of (i) $139,923 cash (less $11,198 cash on hand at AEU as of the closing date), (ii) payment in cash of direct financial obligation of AEU on, or in close proximity to, the date of the business combination, in the amount of $185,077, and (iii) 792,394 shares of Company common stock at closing with a fair value of $103,804 determined using the average closing price of the Company’s common shares for the five days preceding the acquisition date. The total consideration fair value represents a transaction value of $417,606.
CY2023 hlyk Payments To Fair Value Of Shares Issued
PaymentsToFairValueOfSharesIssued
103804 usd
CY2023 hlyk Payments To Acquire Businesses Net Cash Acquired Cash Consideration
PaymentsToAcquireBusinessesNetCashAcquiredCashConsideration
139923 usd
CY2023 hlyk Payment Of Aeu Debt Obligations In Cash
PaymentOfAEUDebtObligationsInCash
185077 usd
CY2023 hlyk Less Cash Received
LessCashReceived
11198 usd
CY2023 hlyk Acquisition Of Fair Value Total Consideration
AcquisitionOfFairValueTotalConsideration
417606 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
13272 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentAssets
152759 usd
CY2023Q4 hlyk Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Right Of Use Asset Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAssetAssets
80264 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
33037 usd
CY2023Q4 us-gaap Loans Payable To Bank
LoansPayableToBank
35346 usd
CY2023Q4 hlyk Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Lease Liability
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLeaseLiability
80264 usd
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
97648 usd
CY2023Q4 us-gaap Goodwill Gross
GoodwillGross
319958 usd
CY2022 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
6127394 usd
CY2022 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-5930867 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
11209 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
17733 usd
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
38391 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
6989 usd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
50547 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
44125 usd
CY2022Q4 hlyk Deferred Equity Compensation Current
DeferredEquityCompensationCurrent
75000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
100147 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
143847 usd
CY2023Q4 hlyk Deferred Equity Compensation And Deposit
DeferredEquityCompensationAndDeposit
50047 usd
CY2022Q4 hlyk Deferred Equity Compensation And Deposit
DeferredEquityCompensationAndDeposit
50907 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
50100 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
92940 usd
CY2023 hlyk Fair Value Of Equity Compensation
FairValueOfEquityCompensation
0 usd
CY2022 hlyk Fair Value Of Equity Compensation
FairValueOfEquityCompensation
90000 usd
CY2023 us-gaap Adjustment For Amortization
AdjustmentForAmortization
10353 usd
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
46771 usd
CY2023 hlyk Unearned Amounts Written Off
UnearnedAmountsWrittenOff
64647 usd
CY2022 hlyk Unearned Amounts Written Off
UnearnedAmountsWrittenOff
13338 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
811817 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
810317 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
521062 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
397194 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
290755 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
413123 usd
CY2023 us-gaap Depreciation
Depreciation
123868 usd
CY2022 us-gaap Depreciation
Depreciation
113681 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
228159 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
715800 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1533 pure
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
57074 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
63615 usd
CY2023Q4 hlyk Product Return Allowance1
ProductReturnAllowance1
2095 usd
CY2022Q4 hlyk Product Return Allowance1
ProductReturnAllowance1
2352 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
935812 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
540181 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
326033 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
344464 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
613386 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
198330 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
939419 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
542794 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
468901 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
430719 usd
CY2023Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
251479 usd
CY2022Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
863662 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
110103 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
190633 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
91238 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
389655 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
611989 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1602558 usd
us-gaap Gross Profit
GrossProfit
1873993 usd
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
1186231 usd
CY2023Q4 us-gaap Accrued Fees And Other Revenue Receivable
AccruedFeesAndOtherRevenueReceivable
100000 usd
CY2023Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
5110 usd
CY2022Q4 us-gaap Contract With Customer Asset Gross Current
ContractWithCustomerAssetGrossCurrent
269736 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
271774 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
574847 usd
CY2023Q1 us-gaap Investment Interest Rate
InvestmentInterestRate
0.15 pure
CY2023Q4 us-gaap Investment Maturity Date
InvestmentMaturityDate
2024-02-28
CY2023Q4 us-gaap Interest Receivable
InterestReceivable
7456 usd
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
0 usd
CY2023 us-gaap Interest Expense
InterestExpense
21331 usd
CY2022 us-gaap Interest Expense
InterestExpense
0 usd
CY2023Q4 hlyk Plus Deferred Compensation Payable To Related Party
PlusDeferredCompensationPayableToRelatedParty
300600 usd
CY2022Q4 hlyk Plus Deferred Compensation Payable To Related Party
PlusDeferredCompensationPayableToRelatedParty
300600 usd
CY2023 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
20000 usd
CY2023 hlyk Compensation Arrangements
CompensationArrangements
408164 usd
CY2022 hlyk Compensation Arrangements
CompensationArrangements
402144 usd
CY2023 hlyk Consulting Fees
ConsultingFees
139423 usd
CY2022 hlyk Consulting Fees
ConsultingFees
128269 usd
CY2023Q4 us-gaap Loans Receivable With Fixed Rates Of Interest1
LoansReceivableWithFixedRatesOfInterest1
7533 usd
CY2022Q4 us-gaap Loans Receivable With Fixed Rates Of Interest1
LoansReceivableWithFixedRatesOfInterest1
16902 usd
CY2023 us-gaap Interest Income Other
InterestIncomeOther
21530 usd
CY2023 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
450000 usd
CY2022 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
450000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
450000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
450000 usd
CY2022 us-gaap Payments For Rent
PaymentsForRent
29057 usd
CY2022Q3 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual Percent Past Due
FinancingReceivableExcludingAccruedInterestNonaccrualPercentPastDue
0.05 pure
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.02 pure
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
224400 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
189000 usd
CY2022Q3 hlyk Aggregate Percentage
AggregatePercentage
0.30 pure
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.96 pure
CY2022Q3 us-gaap Derivative Underlying Investment Shares
DerivativeUnderlyingInvestmentShares
30000000 shares
CY2023Q4 us-gaap Cash
Cash
10000 usd
CY2023Q4 us-gaap Fair Value Concentration Of Risk Commitments
FairValueConcentrationOfRiskCommitments
100000 usd
CY2022 us-gaap Financing Interest Expense
FinancingInterestExpense
110000 usd
CY2023 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
225000 shares
CY2022Q4 us-gaap Shares Issued
SharesIssued
664076 shares
CY2023 hlyk Schedule Of Common Stock Issuable
ScheduleOfCommonStockIssuable
As of December 31, 2023 and 2022, the Company was obligated to issue the following shares:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>December 31, 2022</b></span></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="padding-bottom: 1.5pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>Amount</b></td><td style="padding-bottom: 1.5pt"><b> </b></td><td style="padding-bottom: 1.5pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>Shares</b></td><td style="padding-bottom: 1.5pt"><b> </b></td><td style="padding-bottom: 1.5pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>Amount</b></td><td style="padding-bottom: 1.5pt"><b> </b></td><td style="padding-bottom: 1.5pt"><b> </b></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>Shares</b></td><td style="padding-bottom: 1.5pt"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Shares issuable to employees and consultants</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">261,682</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,356,188</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">210,584</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">2,183,398</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Shares issuable to independent directors</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">408,164</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">15,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">402,144</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">281,682</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,764,352</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">225,584</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">2,585,542</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2023Q4 hlyk Common Stock Issuables Value
CommonStockIssuablesValue
281682 usd
CY2023Q4 hlyk Common Stock Issuables Shares
CommonStockIssuablesShares
2764352 shares
CY2022Q4 hlyk Common Stock Issuables Value
CommonStockIssuablesValue
225584 usd
CY2022Q4 hlyk Common Stock Issuables Shares
CommonStockIssuablesShares
2585542 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
18487860 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
9392101 shares
CY2023Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
794220 usd
CY2022Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
333162 usd
CY2023 hlyk Pricing Model Utilized
PricingModelUtilized
Binomial Lattice
CY2022 hlyk Pricing Model Utilized
PricingModelUtilized
Binomial Lattice
CY2022 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P5Y
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023 hlyk Share Based Compensation Arrangement By Share Based Payment Award Probability Of Exercise
ShareBasedCompensationArrangementByShareBasedPaymentAwardProbabilityOfExercise
0.80 pure
CY2022 hlyk Share Based Compensation Arrangement By Share Based Payment Award Probability Of Exercise
ShareBasedCompensationArrangementByShareBasedPaymentAwardProbabilityOfExercise
0.80 pure
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.06
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
89270 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
12245 usd
CY2023 us-gaap Net Amount At Risk By Product And Guarantee Weighted Average Period Remaining1
NetAmountAtRiskByProductAndGuaranteeWeightedAveragePeriodRemaining1
P1Y8M12D
CY2022 us-gaap Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
0.05
CY2022Q4 us-gaap Additional Collateral Aggregate Fair Value
AdditionalCollateralAggregateFairValue
174594 usd
CY2023 hlyk Share Based Compensation Arrangement By Share Based Payment Award Forfeiture Rates
ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitureRates
0.20 pure
CY2022 hlyk Share Based Compensation Arrangement By Share Based Payment Award Forfeiture Rates
ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitureRates
0.20 pure
CY2023Q4 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
64647 usd
CY2022Q4 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
13338 usd
CY2023 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 15 – CONTINGENT ACQUISITION CONSIDERATION</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contingent acquisition consideration relates to future earn-out payments potentially payable related to the Company’s acquisitions of Hughes Center for Functional Medicine (“HCFM”) in 2019 and CHM and MOD in 2020. The terms of the earn-outs related to each acquisition require the Company to pay the former owners additional acquisition consideration for the achievement of prescribed revenue and/or earnings targets for performance of the underlying business for up to four years after the respective acquisition date. Contingent acquisition consideration for each entity is recorded at fair value using a probability-weighted discounted cash flow projection. The fair value of the contingent acquisition consideration is remeasured at the end of each reporting period and changes are included in the statement of operations under the caption “Change in fair value of contingent acquisition consideration.”</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Contingent acquisition consideration as of December 31, 2023 and 2022 was comprised of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Fair value of CHM contingent acquisition consideration</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-159">---</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">185,024</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Fair value of MOD contingent acquisition consideration</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,189</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,283</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total contingent acquisition consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,189</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">198,307</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Less: long term portion</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-160">---</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(98,239</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Contingent acquisition consideration, current portion</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,189</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">100,068</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2023 and 2022, the Company recognized gains (losses) on the change in the fair value of contingent acquisition consideration as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended December 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">HCFM contingent acquisition consideration</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-161">---</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(35,260</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">CHM contingent acquisition consideration</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-162">---</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,505</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">MOD contingent acquisition consideration</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,094</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">723,754</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 4pt">Net gain on change in fair value of contingent acquisition consideration</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">11,094</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">779,999</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All of the remaining $2,189 contingent acquisition consideration related to MOD matures in 2024 based on the performance of the business unit for the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Hughes Center for Functional Medicine Acquisition – April 2019 </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 12, 2019, the Company acquired a 100% interest in HCFM, a medical practice engaged in improving the health of its patients through individualized and integrative health care. Under the terms of acquisition, the Company paid the seller $500,000 in cash, issued 3,968,254 shares of the Company’s common stock and agreed to an earn-out provision of $500,000 that may be earned based on the performance of NCFM in the years ended on the first, second and third anniversary dates of the acquisition closing. The total consideration fair value represented a transaction fair value of $1,764,672. In May 2020, the Company paid the seller $47,000 in satisfaction of the year 1 earn out. In May 2021, the Company paid the seller $196,000 in satisfaction of the year 2 earn out. In May 2022, the Company paid the seller $207,384 in satisfaction of the year 3 earn out. The Company has no further earn-out obligations related to the NCFM acquisition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Cura Health Management LLC Acquisition – May 2020</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 18, 2020, the Company acquired a 100% interest in CHM and its wholly owned subsidiary AHP. The acquisition consideration included an earnout of up to $62,500, $125,000, $125,000 and $125,000 cash for years 1, 2, 3, and 4, respectively, based on achievement by the underlying business of revenue of at least $2,250,000 (50% weighting) and profit of at least $500,000 (50% weighting) in the year preceding each anniversary date of the closing (the “Future Earnout”). On January 17, 2023, the Company entered into the AHP Merger Agreement, pursuant to which the Buyer agreed to buy, and the Company agreed to sell, AHP.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">MedOffice Direct LLC Acquisition – October 2020 </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 19, 2020, the Company acquired a 100% interest in MOD, a virtual distributor of discounted medical supplies selling to both consumers and medical practices throughout the United States. Under the terms of acquisition, the Company paid the following consideration: (i) 19,045,563 shares of Company common stock issued at closing, (ii) partial satisfaction of certain outstanding debt obligations of MOD in the amount of $703,200 in cash paid by the Company, and (iii) up to 10,004,749 restricted shares of the Company’s common stock over a four-year period based on MOD achieving revenue targets in calendar years 2021, 2022, 2023, and 2024 of $1,500,000, $1,875,000, $2,344,000, and $2,930,000, respectively. The first, second and third years of earnout measured based on performance in calendar years 2021, 2022, and 2023, respectively, were not met. Because the MOD earnout is payable in a fixed number of shares for each earnout year, the fair value of MOD contingent acquisition consideration is dependent in large part on the price of the Company’s stock.</p>
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