HERE TO SERVE HOLDING CORP.
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE NINE- AND THREE-MONTH PERIODS ENDED JUNE 30, 2022 AND 2021
UNAUDITED
HERE TO SERVE HOLDING CORP.
FOR THE NINE- AND THREE-MONTH PERIODS ENDED JUNE 30, 2022 AND 2021
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
CONTENTS
Page | |
Unaudited Financial Statements | |
Consolidated Balance Sheets | 3 |
Consolidated Statements of Operations | 4 |
Consolidated Statements of Stockholders' Equity | 5 |
Consolidated Statements of Cash Flows | 6 |
Notes to Consolidated Financial Statements | 7 - 21 |
2
Here To Serve Holding Corp.
Consolidated Balance Sheets
June 30, 2022 | September 30, 2021 | ||||
(Unaudited) | (Audited) | ||||
ASSETS | |||||
Current Assets | |||||
Cash | $ | 31,170 | $ | 59,174 | |
Accounts receivable | - | 3,105 | |||
Prepaid expenses | 5,523 | 80,916 | |||
Total current assets | 36,693 | 143,195 | |||
Equity securities at fair value | 1,385,700 | 4,074,250 | |||
Related party equity securities at fair value | 602,000 | 93,000 | |||
Investments | 3,150 | 133,150 | |||
Mineral interests | 500,939 | 374,525 | |||
TOTAL ASSETS | $ | 2,528,482 | $ | 4,818,120 | |
LIABILITIES & SHAREHOLDERS' EQUITY | |||||
Current Liabilities | |||||
Accrued expenses | $ | 12,287 | $ | 12,505 | |
Due to related parties | 18,650 | 18,780 | |||
Accrued interest payable | 6,732 | 4,207 | |||
Current portion of long-term debt | 1,114 | 467 | |||
Total current liabilities | 38,783 | 35,959 | |||
Long-term notes payable, less current portion | 88,886 | 89,533 | |||
Total liabilities | 127,669 | 125,492 | |||
Commitments and contingencies | - | - | |||
Shareholders' equity | |||||
Preferred stock, 10,000,000 shares authorized | |||||
Series A, par value $.001, 1,000,000 shares issued and | |||||
outstanding | 1,000 | 1,000 | |||
Convertible preferred stock, $.0001 par value | |||||
Series C, 100,000 shares issued and outstanding | 10 | 10 | |||
Common stock, par value $.001, 400,000,000 shares | |||||
authorized, 75,338,500 and 67,340,075 issued and | |||||
outstanding, respectively | 75,338 | 67,340 | |||
Additional paid in capital | 7,232,525 | 7,004,548 | |||
Accumulated deficit | (4,908,060) | (2,380,270) | |||
Total shareholders' equity | 2,400,813 | 4,692,628 | |||
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY | $ | 2,528,482 | $ | 4,818,120 |
The accompanying notes are an integral part of these consolidated financial statements.
3
Here To Serve Holding Corp.
Consolidated Statements of Operations
Unaudited
For the Nine Months Ended | For the Three Months Ended | ||||||||||
June 30, 2022 | June 30, 2021 | June 30, 2022 | June 30, 2021 | ||||||||
Revenues | $ | 1,935,374 | $ | 790,800 | $ | 511,988 | $ | 578,630 | |||
Cost of revenues | 348,675 | 294,104 | 166,575 | 275,104 | |||||||
Gross Profit | 1,586,699 | 496,696 | 345,413 | 303,526 | |||||||
Expenses: | |||||||||||
Wages | 24,102 | 29,777 | 855 | 12,049 | |||||||
Consulting fees | 193,164 | 33,846 | 25,131 | 33,846 | |||||||
Advertising | 8,290 | 33,779 | 235 | 126 | |||||||
Rent | 900 | 900 | 300 | 300 | |||||||
General and administrative | 34,853 | 25,189 | 11,703 | 6,964 | |||||||
Professional services | 4,507 | 4,486 | 2,439 | 1,344 | |||||||
Total operating expenses | 265,816 | 127,977 | 40,663 | 54,629 | |||||||
Income from operations | 1,320,883 | 368,719 | 304,750 | 248,897 | |||||||
Other income (expenses): | |||||||||||
Unrealized gain (loss) on investments | (3,846,150) | 5,184,825 | (901,150) | 1,108,250 | |||||||
Realized gain on investments | - | 12,225 | - | 12,225 | |||||||
Gain on sale of subsidiary | 100 | 18,571 | 100 | 18,571 | |||||||
Interest expense | (2,623) | (2,835) | (883) | (960) | |||||||
Total other income (expenses) | (3,848,673) | 5,212,786 | (901,933) | 1,138,086 | |||||||
Net Income (loss) before income taxes | (2,527,790) | 5,581,505 | (597,183) | 1,386,983 | |||||||
Income tax expense | - | - | - | - | |||||||
Net income (loss) | $ | (2,527,790) | $ | 5,581,505 | $ | (597,183) | $ | 1,386,983 | |||
Basic net income (loss) per share | $ | (0.04) | $ | 0.09 | $ | (0.01) | $ | 0.02 | |||
Diluted income (loss) per share | $ | (0.04) | $ | 0.04 | $ | (0.01) | $ | 0.01 | |||
Weighted average number of shares outstanding | |||||||||||
Basic | 70,964,471 | 61,312,145 | 74,741,962 | 63,772,177 | |||||||
Fully diluted | 70,964,471 | 128,447,059 | 74,741,962 | 130,857,091 |
The accompanying notes are an integral part of these consolidated financial statements.
4
Here To Serve Holding Corp.
Consolidated Statements of Shareholders' Equity
For the Nine Months Ended June 30, 2022 and the Years Ended September 30, 2021 and 2020
Unaudited
Total | |||||||||||||||||||
Common | Preferred | Preferred | Additonal | Accumulated | Shareholders' | ||||||||||||||
Common Shares | Stock, Par | Shares | Stock, Par | Paid in Capital | Deficit | Treasury Stock | Equity | ||||||||||||
Balance, October 1, 2019 | 126,084,434 | $ | 126,085 | 1,100,000 | $ | 1,010 | $ | 8,326,036 | $ | (5,931,579) | $ | (2,500,000) | $ | 21,552 | |||||
Purchase of subsidiary | 100,000 | 100 | - | - | 200 | - | - | 300 | |||||||||||
Sale of common stock | 662,500 | 662 | - | - | 6,838 | - | - | 7,500 | |||||||||||
Retire treasury stock | (76,114,285) | (76,114) | - | - | (2,423,886) | - | 2,500,000 | - | |||||||||||
Purchase of mineral rights | 1,000,000 | 1,000 | - | - | 78,200 | - | - | 79,200 | |||||||||||
Issuance of warrants | - | - | - | - | 92,824 | - | - | 92,824 | |||||||||||
Return of 100,000 warrants | - | - | - | - | (9,453) | - | - | (9,453) | |||||||||||
Exercise of warrants | 5,700,000 | 5,700 | - | - | (5,700) | - | - | - | |||||||||||
Net income year ended September 30, 2020 | - | - | - | - | 335,587 | - | 335,587 | ||||||||||||
Balance, September 30, 2020 | 57,432,649 | 57,433 | 1,100,000 | 1,010 | 6,065,059 | (5,595,992) | - | 527,510 | |||||||||||
Purchase of mineral rights | 2,549,000 | 2,549 | - | - | 231,631 | - | - | 234,180 | |||||||||||
Sale of common stock | 1,000,000 | 1,000 | - | - | 79,000 | - | - | 80,000 | |||||||||||
Issuance of warrants | - | - | - | - | 55,616 | - | - | 55,616 | |||||||||||
Net income year ended September 30, 2021 | - | - | - | - | - | 3,215,722 | - | 3,215,722 | |||||||||||
Exercise of warrants | 2,358,426 | 2,358 | - | - | (2,358) | - | - | - | |||||||||||
Purchase of biotech investment | 1,000,000 | 1,000 | - | - | 129,000 | - | - | 130,000 | |||||||||||
Common stock issued for services | 3,000,000 | 3,000 | - | - | 446,600 | - | - | 449,600 | |||||||||||
Balance, September 30, 2021 | 67,340,075 | 67,340 | 1,100,000 | 1,010 | 7,004,548 | (2,380,270) | - | 4,692,628 | |||||||||||
Sale of common stock | 1,421,428 | 1,422 | - | - | 65,661 | - | - | 67,083 | |||||||||||
Issuance of warrants | - | - | - | - | 117,771 | - | - | 117,771 | |||||||||||
Purchase of subsidiary | 500,000 | 500 | - | - | 622 | - | - | 1,122 | |||||||||||
Net loss quarter ended December 31, 2021 | - | - | - | - | (1,055,082) | - | (1,055,082) | ||||||||||||
Balance, December 31, 2021 | 69,261,503 | 69,262 | 1,100,000 | 1,010 | 7,188,602 | (3,435,352) | - | 3,823,522 | |||||||||||
Sale of common stock | 1,167,048 | 1,167 | - | - | 38,832 | - | - | 39,999 | |||||||||||
Exercise of warrants | 1,358,426 | 1,358 | - | - | (1,358) | - | - | - | |||||||||||
Net loss quarter ended March 31, 2022 | - | - | - | - | - | (875,525) | - | (875,525) | |||||||||||
Balance, March 31, 2022 | 71,786,977 | 71,787 | 1,100,000 | 1,010 | 7,226,076 | (4,310,877) | - | 2,987,996 | |||||||||||
Sale of common stock | 333,333 | 333 | - | - | 9,667 | - | - | 10,000 | |||||||||||
Exercise of warrants | 3,218,190 | 3,218 | - | - | (3,218) | - | - | - | |||||||||||
Net loss quarter ended June 30, 2022 | - | - | - | - | - | (597,183) | - | (597,183) | |||||||||||
Balance, June 30, 2022 | 75,338,500 | $ | 75,338 | 1,100,000 | $ | 1,010 | $ | 7,232,525 | $ | (4,908,060) | $ | - | $ | 2,400,813 |
The accompanying notes are an integral part of these consolidated financial statements.
5
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Here To Serve Holding Corporation published this content on 14 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2022 17:02:00 UTC.