Skip to main content

Healthier Choices Management Corp

For the period ended Dec 31, 2023. Filed Mar 27, 2024.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 27, 2024

HCMCStored price and day change unavailable
See the whole filing, with its images and exhibits

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

For the fiscal year ended: December 31,2023

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from: _____________ to _____________

(Exact name of registrant as specified in its charter)

Delaware001-3646984-1070932
(State or Other Jurisdiction of Incorporation or Organization)(Commission File Number)(I.R.S. Employer Identification No.)

Address of Principal Executive Office:3800 North 28th Way Hollywood, Florida 33020

Registrant’s telephone number, including area code:(305) 600-5004

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.0001 per shareHCMCOTC Pink Marketplace

Securities registered pursuant to Section 12(g) of the Act**:**

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☐ Yes No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. ☐ Yes No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management assessment of the effectiveness of its internal controls over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). ☐ Yes No☒

The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold as of the last business day of the registrant’s most recently completed second fiscal quarter was approximately $46.3 million based on the June 30, 2023 closing price of $0.0001 per share.

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date:478,266,632,384 shares outstanding as of March 27, 2024.

INDEX

Page
PART I
Item 1. Business1
Item 1A. Risk Factors14
Item 1B. Unresolved Staff Comments14
Item 1C. Cybersecurity14
Item 2. Properties15
Item 3. Legal Proceedings15
Item 4. Mine Safety Disclosures15
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities16
Item 6. Selected Financial Data16
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations16
Item 7A. Quantitative and Qualitative Disclosures About Market Risk21
Item 8. Financial Statements and Supplementary Data21
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure21
Item 9A. Controls and Procedures21
Item 9B. Other Information22
PART III
Item 10. Directors, Executive Officers and Corporate Governance23
Item 11. Executive Compensation26
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters29
Item 13. Certain Relationships and Related Transactions, and Director Independence30
Item 14. Principal Accounting Fees and Services31
PART IV
Item 15. Exhibits, Financial Statement Schedules31
Exhibit Index32
SIGNATURES34
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.