HEALTHY CHOICE WELLNESS CORP
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30,2024
Or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission file number:001-42274
(Exact name of Registrant as specified in its charter)
| Delaware | 88-4128927 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
| 3800 North 28th Way, Unit# 1 Hollywood, Florida | 33020 |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code:305-600-5004
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 and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted 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 and post such files).
☒Yes ☐ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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 is a shell company (as defined in Rule 12b-2 of the Exchange Act).
☐Yes☒ No
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, par value $0.001 per share | HCWC | NYSE American |
As of November 13, 2024, there were 9,815,749 shares of the registrant’s common stock, par value $0.001 per share, outstanding. Of the total outstanding shares,2,895,550 shares are Class A common stock that are freely tradeable and 6,920,199 shares are Class B shares that will be freely tradeable 90-days from September 13, 2024.
TABLE OF CONTENTS
| PAGE | |
|---|---|
| PART I FINANCIAL INFORMATION | 3 |
| ITEM 1. Financial Statements | 3 |
| Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 | 3 |
| Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) | 4 |
| Condensed Consolidated Statements of Changes in Stockholders’ Equity for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) | 5 |
| Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) | 7 |
| Notes to Condensed Consolidated Financial Statements (Unaudited) | 8 |
| ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 25 |
| ITEM 3. Quantitative and Qualitative Disclosures about Market Risk | 31 |
| ITEM 4. Controls and Procedures | 31 |
| PART II OTHER INFORMATION | 33 |
| ITEM 1. Legal Proceedings | 33 |
| ITEM 1A. Risk Factors | 33 |
| ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds | 33 |
| ITEM 3. Defaults Upon Senior Securities | 33 |
| ITEM 4. Mine Safety Disclosures | 33 |
| ITEM 5. Other Information | 33 |
| ITEM 6. Exhibits | 33 |
| Signatures | 34 |
| Exhibit 31.1 | |
| Exhibit 31.2 | |
| Exhibit 32.1 | |
| Exhibit 32.2 | |
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