$HOUR
Hour Loop, Inc

2022 Q3 Form 10-Q Financial Statement

#000149315222022388 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $17.56M $14.80M $12.35M
YoY Change 68.4% 27.12% 32.51%
Cost Of Revenue $8.000M $6.444M $5.897M
YoY Change 62.76% 32.99% 44.03%
Gross Profit $9.556M $8.357M $6.457M
YoY Change 73.43% 22.93% 23.49%
Gross Profit Margin 54.43% 56.46% 52.26%
Selling, General & Admin $9.520M $8.756M $7.202M
YoY Change 78.78% 52.83% 65.03%
% of Gross Profit 99.62% 104.78% 111.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.49K $14.10K $8.400K
YoY Change
% of Gross Profit 0.18% 0.17% 0.13%
Operating Expenses $9.520M $8.756M $7.202M
YoY Change 78.78% 52.83% 65.03%
Operating Profit $36.71K -$399.7K -$745.4K
YoY Change -80.18% -137.4% -186.23%
Interest Expense $22.88K $20.57K -$83.56K
YoY Change -214.32% 99.14%
% of Operating Profit 62.31%
Other Income/Expense, Net $126.5K -$10.76K $1.490K
YoY Change 55.73% -128.3% -88.39%
Pretax Income $163.2K -$410.4K -$827.4K
YoY Change -33.79% -137.09% -194.33%
Income Tax $12.96K -$97.01K -$182.5K
% Of Pretax Income 7.94%
Net Earnings $150.2K -$313.4K -$644.9K
YoY Change -44.61% -128.32% -173.52%
Net Earnings / Revenue 0.86% -2.12% -5.22%
Basic Earnings Per Share $0.01 -$0.01 -$0.02
Diluted Earnings Per Share $4.511K -$8.970K -$18.41K
COMMON SHARES
Basic Shares Outstanding 35.04M shares 34.94M shares 35.03M shares
Diluted Shares Outstanding 33.30M shares 34.94M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.704M $2.306M $7.664M
YoY Change -61.74% -10.55% 103.38%
Cash & Equivalents $1.704M $2.306M $7.637M
Short-Term Investments
Other Short-Term Assets $135.0K $28.28K $702.8K
YoY Change -60.78% -89.73% 166.85%
Inventory $21.36M $14.60M $11.77M
Prepaid Expenses $395.3K
Receivables $263.4K $151.6K $122.5K
Other Receivables $175.8K $119.3K $125.0K
Total Short-Term Assets $24.18M $17.89M $20.38M
YoY Change 131.31% 101.46% 74.54%
LONG-TERM ASSETS
Property, Plant & Equipment $238.4K $156.3K $600.7K
YoY Change 394.2% 137.66% 631.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $312.2K $325.0K $228.0K
YoY Change 478.79%
Total Long-Term Assets $1.069M $966.4K $828.7K
YoY Change 946.36% 1369.19% 909.29%
TOTAL ASSETS
Total Short-Term Assets $24.18M $17.89M $20.38M
Total Long-Term Assets $1.069M $966.4K $828.7K
Total Assets $25.25M $18.86M $21.21M
YoY Change 139.2% 110.78% 80.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.01M $5.359M $7.608M
YoY Change 153.98% 78.0% 55.51%
Accrued Expenses $366.5K $502.4K $1.319M
YoY Change -54.4% -43.81% 64.53%
Deferred Revenue
YoY Change
Short-Term Debt $630.9K $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $17.59M $11.34M $13.38M
YoY Change 113.23% 131.29% 94.86%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $151.3K $184.7K $207.4K
YoY Change
Total Long-Term Liabilities $151.3K $184.7K $207.4K
YoY Change -93.03% 13455.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.59M $11.34M $13.38M
Total Long-Term Liabilities $151.3K $184.7K $207.4K
Total Liabilities $17.74M $11.52M $13.59M
YoY Change 70.27% 135.05% 97.83%
SHAREHOLDERS EQUITY
Retained Earnings $1.847M $1.696M
YoY Change
Common Stock $3.505K $3.504K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.511M $7.333M $7.618M
YoY Change
Total Liabilities & Shareholders Equity $25.25M $18.86M $21.21M
YoY Change 139.2% 110.78% 80.37%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $150.2K -$313.4K -$644.9K
YoY Change -44.61% -128.32% -173.52%
Depreciation, Depletion And Amortization $17.49K $14.10K $8.400K
YoY Change
Cash From Operating Activities -$1.279M -$5.323M -$7.924M
YoY Change -171.27% -668.5% 585.53%
INVESTING ACTIVITIES
Capital Expenditures $125.5K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$104.2K -$38.70K -$125.5K
YoY Change
Cash From Investing Activities -$104.2K -$38.70K -$125.5K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 756.5K 0.000 5.132M
YoY Change 784.51% -100.0% -12013.12%
NET CHANGE
Cash From Operating Activities -1.279M -5.323M -7.924M
Cash From Investing Activities -104.2K -38.70K -125.5K
Cash From Financing Activities 756.5K 0.000 5.132M
Net Change In Cash -626.4K -5.361M -2.918M
YoY Change -133.33% 348.6%
FREE CASH FLOW
Cash From Operating Activities -$1.279M -$5.323M -$7.924M
Capital Expenditures $125.5K
Free Cash Flow -$8.050M
YoY Change 596.38%

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us-gaap Adjustments To Additional Paid In Capital Other
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us-gaap Dividends
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
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us-gaap Net Income Loss
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StockholdersEquity
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us-gaap Stock Issued During Period Value New Issues
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us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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4042 usd
us-gaap Net Income Loss
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
NetIncomeLoss
-958295 usd
us-gaap Net Income Loss
NetIncomeLoss
1972403 usd
us-gaap Depreciation
Depreciation
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HOUR Noncash Lease Expenses
NoncashLeaseExpenses
124570 usd
HOUR Noncash Lease Expenses
NoncashLeaseExpenses
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Interest Expense Related Party
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104125 usd
us-gaap Increase Decrease In Accounts Receivable
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25616 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-46593 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7576329 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1494644 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
88248 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-489001 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
1571 usd
us-gaap Net Cash Provided By Used In Operating Activities
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-13247025 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-219722 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
164174 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-164174 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
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us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
2800 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
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us-gaap Payments Of Capital Distribution
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us-gaap Repayments Of Lines Of Credit
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-7115 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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4696 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-2389479 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10592572 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4968064 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2306430 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2578585 usd
HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
RightofuseOfAssetAndOperatingLeaseLiabilitiesRecognized
606443 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021Q2 us-gaap Plan Of Reorganization Dates Plan Is Effective
PlanOfReorganizationDatesPlanIsEffective
2021-07-27
HOUR Sales Return Rate
SalesReturnRate
0.0636 pure
HOUR Sales Return Rate
SalesReturnRate
0.0586 pure
HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
5800777 usd
HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
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us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zGs5DLDQIfM9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_zxJjtkuEEpuc">Use of Estimates</span></b> – The preparation of financial statements in conformity with US 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimated include, but not limited to, estimates associated with the collectability of accounts receivable and inventory valuation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
353912 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
184720 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
2500 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
156335 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15667 usd
us-gaap Property Plant And Equipment Estimated Useful Lives
PropertyPlantAndEquipmentEstimatedUsefulLives
3 years
CY2022Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
701801 usd
CY2021Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
620963 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_zuuFG06vE6G4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zvcmHlTU7mCe">Concentrations of Risks</span></b> – Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company maintains cash with various domestic and foreign financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of the aforementioned institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s accounts receivables are derived from sales contracts with a large number of customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those which represent more than 10% of the Company’s total net revenue or gross accounts receivable balance at the balance sheet date. <span id="xdx_909_eus-gaap--ConcentrationRiskCustomer_c20220101__20220630_zfP2maN5ZL8i" title="Concentration risk customer">During the periods ended June 30, 2022 and 2021, the Company had no customers that accounted for 10% or more of total net revenues. In addition, as of June 30, 2022 and 2021, the Company had no customers that accounted for 10% or more of gross accounts receivable</span>. As of June 30, 2022 and 2021, all of its accounts receivable is held by the Company’s sales platform agent, Amazon, which collects money on the Company’s behalf from its customers. Therefore, the Company’s accounts receivable are comprised of receivables due from Amazon and the reimbursement from Amazon to the Company usually takes 15 to 20 days.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>HOUR LOOP, INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(Unaudited)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s business is reliant on one key vendor which currently provides the Company with its sales platform, logistics and fulfillment operations, including certain warehousing for the Company’s net goods, and invoicing and collection of its revenue from the Company’s end customers. During the periods ended June 30, 2022 and 2021, approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220101__20220630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpnKUAlLs2Hd" title="Concentration risk percentage"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20210630__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zWz8pouqglGa" title="Concentration risk percentage">100</span></span>% of the Company’s revenue was through or with the Amazon sales platform.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
During the periods ended June 30, 2022 and 2021, the Company had no customers that accounted for 10% or more of total net revenues. In addition, as of June 30, 2022 and 2021, the Company had no customers that accounted for 10% or more of gross accounts receivable
us-gaap Advertising Expense
AdvertisingExpense
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us-gaap Advertising Expense
AdvertisingExpense
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CY2022Q2 us-gaap Cash And Due From Banks
CashAndDueFromBanks
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CashAndDueFromBanks
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InterestBearingDepositsInBanks
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InterestBearingDepositsInBanks
1414 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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InventoryFinishedGoods
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InventoryFinishedGoods
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353912 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
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InventoryNet
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CY2021Q4 us-gaap Inventory Net
InventoryNet
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CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
184720 usd
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
431313 usd
HOUR Inventory Provision
InventoryProvision
228296 usd
CY2021 HOUR Inventory Provision
InventoryProvision
116359 usd
HOUR Inventory Write Off Value
InventoryWriteOffValue
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CY2021 HOUR Inventory Write Off Value
InventoryWriteOffValue
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CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
353912 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
184720 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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PropertyPlantAndEquipmentGross
16115 usd
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22845 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
448 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
156335 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15667 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
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CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
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CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
116679 usd
CY2022Q2 us-gaap Supplies
Supplies
186021 usd
CY2021Q4 us-gaap Supplies
Supplies
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CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
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CY2022Q2 us-gaap Prepaid Taxes
PrepaidTaxes
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CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
114640 usd
CY2022Q2 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
102979 usd
CY2021Q4 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
70554 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
28284 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4162 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
831839 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
965298 usd
CY2022Q2 HOUR Discounts
Discounts
151407 usd
CY2022Q2 HOUR Accrued Sales Tax Payable Current
AccruedSalesTaxPayableCurrent
701801 usd
CY2021Q4 HOUR Accrued Sales Tax Payable Current
AccruedSalesTaxPayableCurrent
620963 usd
CY2022Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
51547 usd
CY2021Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
68242 usd
CY2022Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
1255714 usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
1282161 usd
CY2022Q2 us-gaap Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
4294731 usd
CY2021Q4 us-gaap Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
5214794 usd
CY2021Q2 HOUR Discounts
Discounts
119649 usd
HOUR Discounts
Discounts
313380 usd
HOUR Discounts
Discounts
190769 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
14800518 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30111 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
303923 usd
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
174589 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
332418 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
23753 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q2 HOUR Effect Of Discounting
EffectOfDiscounting
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CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
303923 usd
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
184704 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2102 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0381 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0405 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2483 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2505 pure
HOUR Deferred Federal Income Tax Expense
DeferredFederalIncomeTaxExpense
-236678 usd
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
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HOUR Deferred State And Local Income Tax Expense
DeferredStateAndLocalIncomeTaxExpense
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us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
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DeferredIncomeTaxExpense
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q2 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
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CY2022Q2 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
325030 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
45488 usd
CY2022Q2 HOUR Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
-780 usd
CY2021Q4 HOUR Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
-780 usd
CY2022Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
93583 usd
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
46268 usd
CY2022Q2 HOUR Deferred Tax Net Loss
DeferredTaxNetLoss
232227 usd
CY2022Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
325030 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
45488 usd
CY2022Q2 HOUR Revenue Gross
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15836298 usd
CY2021Q2 HOUR Revenue Gross
RevenueGross
12399334 usd
HOUR Revenue Gross
RevenueGross
29332508 usd
HOUR Revenue Gross
RevenueGross
22474855 usd
CY2022Q2 HOUR Sales Returns
SalesReturns
884373 usd
CY2021Q2 HOUR Sales Returns
SalesReturns
636455 usd
HOUR Sales Returns
SalesReturns
1864627 usd
HOUR Sales Returns
SalesReturns
1317943 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
20966143 usd
CY2022Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
1294397 usd
CY2021Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
486132 usd
us-gaap Labor And Related Expense
LaborAndRelatedExpense
2136941 usd
us-gaap Labor And Related Expense
LaborAndRelatedExpense
763922 usd
CY2022Q2 us-gaap Legal Fees
LegalFees
320166 usd
CY2021Q2 us-gaap Legal Fees
LegalFees
181577 usd
us-gaap Legal Fees
LegalFees
570963 usd
us-gaap Legal Fees
LegalFees
229151 usd
CY2022Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
115201 usd
CY2021Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
31220 usd
us-gaap General Insurance Expense
GeneralInsuranceExpense
258088 usd
us-gaap General Insurance Expense
GeneralInsuranceExpense
62012 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
101393 usd
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
34077 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
186659 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
63526 usd
CY2022Q2 us-gaap Taxes Other
TaxesOther
72166 usd
CY2021Q2 us-gaap Taxes Other
TaxesOther
3098 usd
us-gaap Taxes Other
TaxesOther
153181 usd
us-gaap Taxes Other
TaxesOther
11020 usd
CY2022Q2 HOUR Outside Services Expense
OutsideServicesExpense
62253 usd
CY2021Q2 HOUR Outside Services Expense
OutsideServicesExpense
46696 usd
HOUR Outside Services Expense
OutsideServicesExpense
132920 usd
HOUR Outside Services Expense
OutsideServicesExpense
98613 usd
us-gaap Franchisor Costs
FranchisorCosts
49870 usd
CY2022Q2 us-gaap Pension Expense
PensionExpense
36371 usd
CY2021Q2 us-gaap Pension Expense
PensionExpense
4747 usd
us-gaap Pension Expense
PensionExpense
73676 usd
us-gaap Pension Expense
PensionExpense
23384 usd
CY2022Q2 HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
17898 usd
CY2021Q2 HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
33249 usd
HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
52185 usd
HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
52468 usd
CY2022Q2 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
26329 usd
CY2021Q2 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
1855 usd
HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
44172 usd
HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
2955 usd
CY2022Q2 HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
22351 usd
CY2021Q2 HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
9 usd
HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
39029 usd
HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
1255 usd
CY2022Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
14452 usd
CY2021Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
4046 usd
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
18994 usd
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
33308 usd
CY2022Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
192665 usd
CY2021Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
98992 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
234928 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
120893 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2275642 usd
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
925698 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3951606 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1462507 usd
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35042578 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33300000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
440000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
the Company authorized a reverse stock split. Each existing share was split into 0.75 share of the Company’s stock
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
44400000 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33300000 shares

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0001493152-22-022388.txt Edgar Link pending
0001493152-22-022388-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
hour-20220630.xsd Edgar Link pending
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