Healthier Choices Management Corp. (HCMC) reported its financial results for Q1 2021, revealing net sales of approximately $3.5 million, a 14% decrease year-over-year due to a spike in grocery sales last March during the pandemic. The company’s total operating expenses dropped 15% to about $2.0 million, while the net loss from operations was approximately $696,000, a slight 1% decrease from the prior year. Adjusted EBITDA loss improved by 9% to $394,000. CEO Jeffrey Holman expressed optimism about operational improvements and cost reductions.
Healthier Choices Management Corp. (HCMC) reported its financial results for Q1 2021, showing net sales of approximately $3.5 million, down 14% year-over-year due to a previous COVID-19 sales surge. Total operating expenses decreased by 15% to around $2.0 million. The net loss from operations was about $696,000, down just 1% from last year. However, Adjusted EBITDA losses improved by 9%, totaling $394,000. CEO Jeffrey Holman highlighted operational improvements and a commitment to enhancing business fundamentals.
Healthier Choices Management Corp. (HCMC) announced a rights offering for stockholders of record on May 18, 2021. Investors must own HCMC stock by 4:00 PM ET on May 14, 2021 to participate. Under the offering, each shareholder will receive one non-transferable subscription right for every four shares they hold, allowing them to purchase additional shares at 75% of the volume-weighted average price over the last five trading days before the expiration date. The subscription period runs from May 19, 2021 to June 3, 2021.
Healthier Choices Management Corp. (HCMC) has filed a registration statement for a Rights Offering aiming to raise up to $100 million. This initiative allows existing shareholders to purchase additional shares at a 25% discount to the volume-weighted average price (VWAP). With over 400,000 shareholders, the company emphasizes this offering as a non-dilutive way to finance growth and protect intellectual property. The Rights Offering will commence only after SEC approval of the registration statement, which typically takes 20 to 90 days.
Healthier Choices Management Corp. (HCMC) has relaunched its online vitamins and supplements store, TheVitaminStore.com. The platform offers select national brands and Ada's high-quality vitamins, previously exclusive to Ada's Natural Market. CEO Jeff Holman emphasized the strong shareholder base of over 306,000, which presents unique growth opportunities through direct consumer engagement. This relaunch allows shareholders to support their investment while potentially increasing the company's revenue, promoting the idea of collective purchasing power to drive success.
Healthier Choices Management Corp. (OTC Pink: HCMC) announced the launch of its official Twitter page, @HealthierCMC, aiming to enhance shareholder engagement and provide updates on the company’s offerings. CEO Jeffrey Holman expressed gratitude towards shareholders and emphasized that the Twitter presence will offer direct value and support to the company's mission. The company operates nine retail vape stores and a grocery store offering organic products, and it markets patented Q-Cup™ technology for vaping. This initiative reflects the company's commitment to transparency and communication with investors.
Healthier Choices Management Corp. (HCMC) reported fiscal 2020 results, revealing a net sales drop of 8%, totaling $13.9 million, down from $15.1 million in 2019. Despite this, adjusted EBITDA improved by approximately $0.5 million, reaching $5.8 million gross profit, although down from $6.5 million the previous year. The company reduced operating expenses as a percentage of sales by 6% compared to the prior year, indicating effective cost management. CEO Jeffrey Holman expressed pride in the team's adaptability during the pandemic's challenges.
Healthier Choices Management Corp. (OTC Pink: HCMC) provided an update on its Series C Convertible Preferred Stock and other stock transactions. The Company executed a Warrant Exchange Agreement, converting 46 million Series A Warrants into 20,722 shares of Series B Stock, resulting in a 45% reduction in potential dilution. Notably, 95% of the Series C Stock has been converted into common stock, with only 916 shares remaining. Additionally, 625 million stock options have been exercised into common stock, and 2.25 billion shares of restricted stock were issued, raising the total outstanding shares to approximately 300.33 billion.
Healthier Choices Management Corp. (HCMC) has alerted shareholders about an unauthorized Twitter account falsely representing the company. HCMC currently lacks official social media platforms but is in the process of creating a legitimate Twitter account. The company recommends that shareholders refer to filings with the U.S. Securities and Exchange Commission for accurate updates. HCMC operates nine retail vape stores and offers a variety of health products through its subsidiaries, emphasizing its commitment to providing healthier lifestyle choices.
Healthier Choices Management Corp. (OTC Pink: HCMC) announced a private placement equity capital raise of $5 million through Series D preferred stock. This stock is convertible into common stock at an initial price of $0.0024, which is a 150% premium over the last closing price of $0.0016. The investment was led by the company’s largest single long-term investor. CEO Jeff Holman expressed confidence in the company's fundamentals and its proactive approach to enforcing intellectual property rights, particularly in the tobacco and cannabis sectors.