TMaga
6 days ago
Humble, Most current, not what you outlined in your post 2 days ago.
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
HEALTHIER CHOICES MANAGEMENT CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30, 2024 December 31, 2023
ASSETS
CURRENT ASSETS
Cash and cash equivalent $ 2,533,980 $ 3,658,506
Inventories 66,585 66,671
Prepaid expenses and vendor deposits 196,846 1,493,354
Other current assets 40,530 8,714
Restricted cash 553,232 553,232
Current assets of discontinued operations - 5,944,781
TOTAL CURRENT ASSETS 3,391,173 11,725,258
Property, plant, and equipment, net of accumulated depreciation 86,964 58,613
Intangible assets, net of accumulated amortization 167,932 198,163
Right of use asset – operating lease, net 14,479 98,440
Other assets 124,100 154,329
Other assets of discontinued operations - 18,734,776
TOTAL ASSETS $ 3,784,648 $ 30,969,579
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable and accrued expenses $ 2,619,248 $ 3,104,253
Line of credit 453,232 453,232
Operating lease liability, current 12,363 94,005
Due to related party 106,841 -
Current liabilities of discontinued operations - 8,579,449
TOTAL CURRENT LIABILITIES 3,191,684 12,230,939
Due to related party - 3,753,003
Operating lease liability, net of current 2,117 4,435
Other Long-term Liabilities of Discontinued Operations - 7,111,986
TOTAL LIABILITIES 3,193,801 23,100,363
COMMITMENTS AND CONTINGENCIES (SEE NOTE 11)
CONVERTIBLE PREFERRED STOCK
Series E redeemable convertible preferred stock, $1,000 par value per share, 14,722 shares authorized, 1,111 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; aggregate liquidation preference of $1.1 million as of September 30, 2024 and December 31, 2023, respectively. 1,111,100 1,111,100
STOCKHOLDERS’ EQUITY
Common Stock, $0.0001 par value per share, 750,000,000,000 shares authorized; 481,266,632,384 and 478,266,632,384 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively. 48,126,663 47,826,663
Additional paid-in capital 24,212,690 21,028,274
Accumulated deficit (72,859,606 ) (62,096,821 )
TOTAL STOCKHOLDERS’ EQUITY (520,253 ) 6,758,116
TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY $ 3,784,648 $ 30,969,579