2022 Q3 Form 10-Q Financial Statement

#000149315222022959 Filed on August 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $269.3K $350.8K $355.3K
YoY Change -17.0% -23.0% 16.75%
Cost Of Revenue $143.7K $180.6K $166.6K
YoY Change -14.14% -27.32% -2.41%
Gross Profit $125.6K $170.2K $188.7K
YoY Change -20.04% -17.82% 41.26%
Gross Profit Margin 46.64% 48.52% 53.1%
Selling, General & Admin $262.6K $243.9K $202.8K
YoY Change -20.8% -17.78% 11.54%
% of Gross Profit 209.05% 143.27% 107.48%
Research & Development $48.41K $58.62K $28.98K
YoY Change 146.84% 283.83% 3.43%
% of Gross Profit 38.54% 34.44% 15.36%
Depreciation & Amortization $36.65K $36.64K $18.03K
YoY Change 103.27%
% of Gross Profit 29.18% 21.53% 9.56%
Operating Expenses $329.0K $320.5K $249.8K
YoY Change -10.88% 2.78% 19.06%
Operating Profit -$203.4K -$150.3K -$61.13K
YoY Change -4.1% 43.51% -19.83%
Interest Expense $106.7K $129.1K -$127.2K
YoY Change -220.35% 1600.05% 1119.18%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$310.1K -$279.4K -$190.3K
YoY Change 3.11% 148.72% 119.52%
Income Tax
% Of Pretax Income
Net Earnings -$310.1K -$279.4K -$190.3K
YoY Change 3.11% 148.72% 119.53%
Net Earnings / Revenue -115.15% -79.64% -53.56%
Basic Earnings Per Share -$0.03 -$0.03 -$0.02
Diluted Earnings Per Share -$0.03 -$31.76K -$21.67K
COMMON SHARES
Basic Shares Outstanding 9.066M shares 8.798M shares 8.780M shares
Diluted Shares Outstanding 9.068M shares 8.798M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $237.9K $97.17K $155.6K
YoY Change -56.21% -33.42% 349.99%
Cash & Equivalents $237.9K $97.17K $155.6K
Short-Term Investments
Other Short-Term Assets $49.34K $29.18K $71.89K
YoY Change 32.21% 92.73% 466.51%
Inventory $97.96K $54.16K $73.15K
Prepaid Expenses
Receivables $58.09K $112.0K $96.09K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $443.3K $292.5K $396.7K
YoY Change -38.45% 2.57% 121.75%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $1.522M $1.540M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.709M $1.745M $1.782M
YoY Change -1.49% 2.1% 2941.67%
TOTAL ASSETS
Total Short-Term Assets $443.3K $292.5K $396.7K
Total Long-Term Assets $1.709M $1.745M $1.782M
Total Assets $2.152M $2.038M $2.179M
YoY Change -12.33% 2.17% 817.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $150.0K $113.5K $33.05K
YoY Change 71.31% 150.94% -57.56%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $297.2K $327.1K $614.0K
YoY Change
Long-Term Debt Due $297.2K $327.1K $342.2K
YoY Change -61.74% 4.99%
Total Short-Term Liabilities $1.657M $1.353M $1.036M
YoY Change 88.4% 267.06% 1047.57%
LONG-TERM LIABILITIES
Long-Term Debt $209.0K $275.3K $457.8K
YoY Change -76.03% -71.23% 0.1%
Other Long-Term Liabilities $0.00 $0.00 $8.990K
YoY Change -100.0% -100.0% -92.07%
Total Long-Term Liabilities $209.0K $275.3K $466.8K
YoY Change -78.9% -74.29% -18.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.657M $1.353M $1.036M
Total Long-Term Liabilities $209.0K $275.3K $466.8K
Total Liabilities $1.866M $1.629M $1.502M
YoY Change -0.23% 13.15% 127.3%
SHAREHOLDERS EQUITY
Retained Earnings -$3.299M -$2.989M
YoY Change
Common Stock $932.00 $882.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $286.2K $409.1K $676.1K
YoY Change
Total Liabilities & Shareholders Equity $2.152M $2.038M $2.179M
YoY Change -12.33% 2.17% 817.38%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$310.1K -$279.4K -$190.3K
YoY Change 3.11% 148.72% 119.53%
Depreciation, Depletion And Amortization $36.65K $36.64K $18.03K
YoY Change 103.27%
Cash From Operating Activities -$183.1K $39.32K -$137.4K
YoY Change 33.91% -159.12% 317.85%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$37.12K
YoY Change -100.0% -100.0% 38.1%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 -$37.12K
YoY Change -100.0% -100.0% 38.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 323.9K -97.70K 43.25K
YoY Change -43.9% -145.23%
NET CHANGE
Cash From Operating Activities -183.1K 39.32K -137.4K
Cash From Investing Activities 0.000 0.000 -37.12K
Cash From Financing Activities 323.9K -97.70K 43.25K
Net Change In Cash 140.8K -58.38K -131.3K
YoY Change -64.58% -152.42%
FREE CASH FLOW
Cash From Operating Activities -$183.1K $39.32K -$137.4K
Capital Expenditures $0.00 $0.00 -$37.12K
Free Cash Flow -$183.1K $39.32K -$100.3K
YoY Change 95.72% -238.45% 1569.05%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0000856984
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
usd
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
000-19041
CY2021Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Stock Issued1
StockIssued1
usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
usd
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
usd
CY2022Q2 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
usd
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Entity Registrant Name
EntityRegistrantName
QHSLab, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
30-1104301
dei Entity Address Address Line1
EntityAddressAddressLine1
901 Northpoint Parkway
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 302
dei Entity Address Address Line3
EntityAddressAddressLine3
West Palm
dei Entity Address City Or Town
EntityAddressCityOrTown
Beach
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33407
dei City Area Code
CityAreaCode
(929)
dei Local Phone Number
LocalPhoneNumber
379-6503
dei Security12g Title
Security12gTitle
Common Stock, $0.0001 Par Value
dei Trading Symbol
TradingSymbol
USAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
9065508 shares
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
97172 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
286855 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
112008 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
70474 usd
CY2022Q2 us-gaap Inventory Net
InventoryNet
54157 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
65740 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
29182 usd
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2208497 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
350816 usd
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
455622 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
706146 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
22713 usd
CY2022Q2 us-gaap Assets Current
AssetsCurrent
292519 usd
CY2021Q4 us-gaap Assets Current
AssetsCurrent
445782 usd
CY2022Q2 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
204775 usd
CY2021Q4 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
186271 usd
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1540388 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1576444 usd
CY2022Q2 us-gaap Assets
Assets
2037682 usd
CY2021Q4 us-gaap Assets
Assets
2208497 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
113500 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
20370 usd
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
100805 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
58615 usd
CY2022Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
327099 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
253865 usd
CY2022Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
811879 usd
CY2021Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
542104 usd
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1353283 usd
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
874954 usd
CY2021Q4 USAQ Accrued Interest Expenses Non Current
AccruedInterestExpensesNonCurrent
6521 usd
CY2022Q2 us-gaap Long Term Loans Payable
LongTermLoansPayable
275268 usd
CY2021Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
402956 usd
CY2021Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
100000 usd
CY2022Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
275268 usd
CY2021Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
509477 usd
CY2022Q2 us-gaap Liabilities
Liabilities
1628551 usd
CY2021Q4 us-gaap Liabilities
Liabilities
1384431 usd
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
900000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
900000000 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 Issued
CommonStockSharesIssued
8815508 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8815508 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8756093 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8756093 shares
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
882 usd
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
876 usd
CY2021Q4 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
6968 usd
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3396461 usd
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3348681 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2988584 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2518895 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
409131 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
824066 usd
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2037682 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
759957 usd
CY2022Q2 us-gaap Cost Of Revenue
CostOfRevenue
180608 usd
CY2021Q2 us-gaap Cost Of Revenue
CostOfRevenue
248502 usd
us-gaap Cost Of Revenue
CostOfRevenue
347249 usd
us-gaap Cost Of Revenue
CostOfRevenue
419258 usd
CY2022Q2 us-gaap Gross Profit
GrossProfit
170208 usd
CY2021Q2 us-gaap Gross Profit
GrossProfit
207120 usd
us-gaap Gross Profit
GrossProfit
358897 usd
us-gaap Gross Profit
GrossProfit
340699 usd
CY2022Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
119772 usd
CY2021Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
161619 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
233067 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
273308 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
124093 usd
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
134964 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
213608 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
205090 usd
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
58615 usd
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15271 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
87593 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
43292 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
18028 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
36056 usd
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
320508 usd
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
311854 usd
us-gaap Operating Expenses
OperatingExpenses
570324 usd
us-gaap Operating Expenses
OperatingExpenses
521690 usd
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-150300 usd
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-104734 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-211427 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-180991 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
129085 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
7593 usd
us-gaap Interest Expense
InterestExpense
256242 usd
us-gaap Interest Expense
InterestExpense
18022 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2020 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-279385 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-112327 usd
us-gaap Net Income Loss
NetIncomeLoss
-469689 usd
us-gaap Net Income Loss
NetIncomeLoss
-199013 usd
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8797782 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7206586 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8815508 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6966046 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
824066 usd
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
3484 usd
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
27925 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
2020 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
8920 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-190304 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
676111 usd
CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
3484 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
8921 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-279385 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
409131 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-608326 usd
CY2021Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
581 usd
CY2021Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
194211 usd
CY2021Q1 USAQ Amortization Of Unearned Compensation
AmortizationOfUnearnedCompensation
67812 usd
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
8920 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-86686 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-423488 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-423488 usd
CY2021Q2 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
20850 usd
CY2021Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
132075 usd
CY2021Q2 USAQ Amortization Of Unearned Compensation
AmortizationOfUnearnedCompensation
36594 usd
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
8921 usd
CY2021Q2 us-gaap Stock Issued During Period Value Purchase Of Assets
StockIssuedDuringPeriodValuePurchaseOfAssets
862500 usd
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
30000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-112327 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
555125 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
555125 usd
us-gaap Net Income Loss
NetIncomeLoss
-469689 usd
us-gaap Net Income Loss
NetIncomeLoss
-199013 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11222 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
54671 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
194775 usd
us-gaap Share Based Compensation
ShareBasedCompensation
17841 usd
us-gaap Share Based Compensation
ShareBasedCompensation
17841 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
6968 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
125837 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2020 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
52756 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1923 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-11583 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-34210 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6469 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3543 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
93130 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-100190 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
15299 usd
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
5646 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
23295 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
86000 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
182954 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-54454 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
216000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-189683 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
51605 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
286855 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
17885 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-98110 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-99404 usd
us-gaap Payments For Software
PaymentsForSoftware
37119 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
94342 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
97172 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
145947 usd
us-gaap Payments For Software
PaymentsForSoftware
64991 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37119 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-64991 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
30000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
100000 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
128500 usd
us-gaap Interest Paid Net
InterestPaidNet
38172 usd
us-gaap Interest Paid Net
InterestPaidNet
21 usd
USAQ Debt And Accrued Interest Converted To Shares Of Common Stock
DebtAndAccruedInterestConvertedToSharesOfCommonStock
27925 usd
USAQ Debt And Accrued Interest Converted To Shares Of Common Stock
DebtAndAccruedInterestConvertedToSharesOfCommonStock
326286 usd
us-gaap Stock Issued1
StockIssued1
1612500 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80B_eus-gaap--NatureOfOperations_zuHozscwIgCi" 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>Note 1. <span id="xdx_82A_zqkY4OMeZcSj">The Company</span></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">QHSLab, Inc. (f/k/a USA Equities Corp.) (the “Company”, or the “Registrant”) was incorporated in Delaware on September 1, 1983<span style="background-color: white">. </span>In 2015, the Company changed its name to USA Equities Corp. On September 23, 2021, the Company changed its state of incorporation from Delaware to Nevada as a result of a merger with and into its newly formed wholly-owned subsidiary, USA Equities Corp., a Nevada corporation (“USA Equities Nevada”), the surviving entity pursuant to an Agreement and Plan of Merger. The reincorporation was approved by the stockholders of the Company and USA Equities Nevada is deemed to be the successor to USA Equities Corp, the Delaware corporation. <span style="background-color: white">On April 19, 2022, the Company changed its name to QHSLab, Inc.</span></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 is a medical device technology and software-as-a-service (“SaaS”) company focused on enabling primary care physicians (“PCP’s”) to increase their revenues by providing them with relevant, value-based tools to evaluate and treat chronic disease as well as provide preventive care through reimbursable procedures.</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>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_zyXTrJPZmzP1" 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"><i><span id="xdx_861_z4tHWvhFppf7">Use of Estimates</span>:</i> The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statement and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from the estimates.</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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
CY2022Q2 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
204775 usd
CY2021Q4 us-gaap Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
186271 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
18615 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
0 usd
us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
87593 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
43292 usd
USAQ Net Operating Losses Carryforwards Expire Date
NetOperatingLossesCarryforwardsExpireDate
begin to expire in 2027
CY2022Q2 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2988584 usd
CY2022Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
123230 usd
CY2021Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
70474 usd
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
11222 usd
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
112008 usd
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
70474 usd
CY2022Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
223390 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
186271 usd
CY2022Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
18615 usd
CY2022Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
204775 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
186271 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1612500 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1612500 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
72112 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
36056 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1540388 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1576444 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
18615 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
0 usd
us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
CY2021 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0 usd
CY2021Q2 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
1612500 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
36056 usd
CY2022Q2 us-gaap Debt Default Longterm Debt Amount
DebtDefaultLongtermDebtAmount
527794 usd
CY2021Q4 us-gaap Debt Default Longterm Debt Amount
DebtDefaultLongtermDebtAmount
644158 usd
CY2022Q1 us-gaap Proceeds From Loans
ProceedsFromLoans
128500 usd
CY2022Q1 us-gaap Payments For Loans
PaymentsForLoans
16305 usd
CY2022Q2 us-gaap Loans Payable
LoansPayable
88984 usd
CY2021Q4 us-gaap Loans Payable
LoansPayable
16793 usd
CY2022Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
856000 usd
CY2021Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
881000 usd
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
44121 usd
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
238896 usd
CY2022Q2 USAQ Convertible Notes Payable Debt Discount And Issuance Costs
ConvertibleNotesPayableDebtDiscountAndIssuanceCosts
811879 usd
CY2021Q4 USAQ Convertible Notes Payable Debt Discount And Issuance Costs
ConvertibleNotesPayableDebtDiscountAndIssuanceCosts
642104 usd
CY2022Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
811879 usd
CY2021Q4 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
542104 usd
CY2021Q4 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
100000 usd
CY2022Q2 us-gaap Interest Payable Current
InterestPayableCurrent
34191 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
37830 usd
CY2022Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6290 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
15446 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
204835 usd
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
34060 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2126647 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1189793 shares
us-gaap Share Based Compensation
ShareBasedCompensation
17841 usd
us-gaap Share Based Compensation
ShareBasedCompensation
17841 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6968 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
125837 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
18243 usd
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1100000 shares
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P9M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0021 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y6M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.763 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure

Files In Submission

Name View Source Status
0001493152-22-022959-index-headers.html Edgar Link pending
0001493152-22-022959-index.html Edgar Link pending
0001493152-22-022959.txt Edgar Link pending
0001493152-22-022959-xbrl.zip Edgar Link pending
ex31.htm Edgar Link pending
ex32.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
form10-q_htm.xml Edgar Link completed
report.css Edgar Link pending
Show.js Edgar Link pending
usaq-20220630.xsd Edgar Link pending
usaq-20220630_cal.xml Edgar Link unprocessable
usaq-20220630_def.xml Edgar Link unprocessable
usaq-20220630_lab.xml Edgar Link unprocessable
usaq-20220630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable