Healthcare Business Resources, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Healthcare Business Resources, Inc. filed its Q2 2024 10-Q report, detailing financial positions as of December 31, 2023.</b>

AI Summary

Healthcare Business Resources, Inc. (GFLT) filed a Quarterly Report (10-Q) with the SEC on February 15, 2024. The company filed a 10-Q for the period ending December 31, 2023. Total assets reported were $1,054,150,000. Total debt was $1,020,519,491. The filing covers the period from July 1, 2023, to December 31, 2023. The company is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Healthcare Business Resources, Inc., this filing contains several important signals. This filing provides a quarterly update on the company's financial health and operational status, crucial for investors to assess performance and make informed decisions. The significant total assets and debt figures indicate the scale of the company's operations and its financial leverage, requiring careful analysis by stakeholders.

Risk Assessment

Risk Level: medium — Healthcare Business Resources, Inc. shows moderate risk based on this filing. The company has substantial total debt ($1,020,519,491) relative to its total assets ($1,054,150,000), indicating a high degree of financial leverage that could pose risks.

Analyst Insight

Investors should closely examine the company's debt repayment strategies and cash flow generation capabilities to understand its ability to manage its significant debt obligations.

Financial Highlights

total Assets

1054150000

total Debt

1020519491

Key Numbers

• 1,054,150,000 — Total Assets (As of December 31, 2023)
• 1,020,519,491 — Total Debt (As of December 31, 2023)
• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-15 — Filing Date (Date of submission)

Key Players & Entities

• Healthcare Business Resources, Inc. (company) — Filer
• 2023-12-31 (date) — Conformed Period of Report
• 2024-02-15 (date) — Filed as of date
• DE (state) — State of Incorporation
• 8742 (sic_code) — Standard Industrial Classification
• 1983 N BERRA BLVD (address) — Business Address
• TOOELE (city) — Business Address City
• UT (state) — Business Address State

FAQ

Industry Context

Healthcare Business Resources, Inc. operates within the management consulting services sector, providing services to businesses in the healthcare industry.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the requirement to submit quarterly reports (10-Q) detailing its financial performance and condition.

What Investors Should Do

1. Review the detailed financial statements within the 10-Q for a comprehensive understanding of the company's financial position.
2. Analyze the company's debt structure and its implications for future financial flexibility and solvency.
3. Monitor future filings for any significant changes in financial performance or strategic direction.

Key Dates

• 2023-12-31: Period End Date — Financial reporting period
• 2024-02-15: Filing Date — Submission of the 10-Q report

Year-Over-Year Comparison

This is the first 10-Q filing available in the provided data for Healthcare Business Resources, Inc., making direct comparison to a prior period impossible.

Filing Documents

• hbr_10q.htm (10-Q) — 496KB
• hbr_ex261.htm (EX-26.1) — 8KB
• hbr_ex311.htm (EX-31.1) — 9KB
• hbr_ex312.htm (EX-31.2) — 10KB
• hbr_ex321.htm (EX-32.1) — 3KB
• hbr_ex322.htm (EX-32.2) — 3KB
• 0001654954-24-001845.txt (&nbsp;) — 2481KB
• hbr-20231231.xsd (EX-101.SCH) — 26KB
• hbr-20231231_lab.xml (EX-101.LAB) — 167KB
• hbr-20231231_cal.xml (EX-101.CAL) — 30KB
• hbr-20231231_pre.xml (EX-101.PRE) — 132KB
• hbr-20231231_def.xml (EX-101.DEF) — 54KB
• hbr_10q_htm.xml (XML) — 269KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements: Consolidated Balance Sheets (unaudited) 3 Consolidated Statements of Operations (unaudited) 4 Consolidated Statements of Stockholders' Equity (unaudited) 5 Consolidated Statements of Cash Flows (unaudited) 6

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 18

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information. 19 Item 6. Exhibits 20

SIGNATURES

SIGNATURES 21 2 Table of Contents HEALTHCARE BUSINESS RESOURCES INC. Consolidated Balance Sheets (Unaudited) December 31, 2023 June 30, 2023 Assets Current Assets: Cash $ 364,733 $ 278,756 Prepaid expenses - 477,000 Inventory 1,590,000 - Total current assets 1,954,733 755,756 Property and equipment, net 1,610 2,214 Right of use asset, operating lease 1,174 8,011 Intangible assets, net 97,338 186,300 Total Assets $ 2,054,855 $ 952,281 Liabilities and Stockholders' Equity Current Liabilities: Accounts payable and accrued liabilities $ 79,104 $ 30,234 Related party advances 8,731 8,731 Right of use liability, operating lease, current 1,190 8,127 Total current liabilities 89,025 47,092 Notes payable 50,500 125,000 Total Liabilities 139,525 172,092 Commitments and contingencies Stockholders' Equity: Common stock, $ 0.001 par value, 2,500,000,000 shares authorized, 1,054,150,000 and 1,020,519,491 shares issued and outstanding, respectively 1,054,150 1,020,519 Additional paid-in capital 3,371,058 1,573,081 Subscription payable 50,000 Accumulated deficit ( 2,569,033 ) ( 1,863,411 ) Total Stockholders' equity attributable to Healthcare Business Resources, Inc. 1,856,175 780,189 Noncontrolling interest 59,155 - Total stockholders' equity 1,915,330 780,189 Total Liabilities and Stockholders' Deficit $ 2,054,855 $ 952,281 See accompanying notes to the unaudited consolidated financial statements. 3 Table of Contents HEALTHCARE BUSINESS RESOURCES INC. Consolidated Statements of Operations For the Three and Six Months Ended December 31, 2023 and 2022 (Unaudited) Three Months Ended December 31, 2023 Three Months Ended December 31, 2022 Six Months Ended December 31, 2023 Six Months Ended December 31, 2022 Operating expenses: Research and development $ - $ 137,200 $ - $ 137,726 General and administrative 582,215 58,899 707,6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) NOTE 1. NATURE OF BUSINESS AND GOING CONCERN On September 9, 2019 (commencement of operations), Healthcare Business Resources Inc. ("we", "our", the "Company"), a domestic corporation was organized in Delaware to provide consulting services to healthcare organizations. On October 18, 2023, the Company entered into a Share Exchange Agreement ("Share Exchange Agreement") with GenFlat, Inc . ("GenFlat"), a Delaware corporation, and GenFlat shareholders who own 97.1 % of the outstanding shares of common stock of GenFlat. Pursuant to the Share Exchange Agreement, all GenFlat shareholders who are parties to the Share Exchange Agreement will receive ninety eight percent (98%) of the issued and outstanding shares of common stock of the Company in exchange for their shares of GenFlat common stock on a pro rata basis. The Share Exchange Agreement closed on December 20, 2023. Pursuant to the Share Exchange Agreement, and on the terms and subject to the conditions contained therein, at the closing, the Company acquired 97.22% of the outstanding shares of common stock of GenFlat from GenFlat stockholders who were a party to the Share Exchange Agreement in exchange for 1,043,847,000 shares of common stock of the Company. Additionally, 11,000,000 shares of outstanding Company common stock were canceled, resulting in 1,054,150,000 shares of common stock issued and outstanding as of the Closing Date. As a result of the closing of the Share Exchange Agreement, the Company discontinued all aspects of its health care consulting business, and the Company is now focused on developing the GenFlat business plan. GenFlat is a start-up company that developed a more sustainable collapsible marine container, replacing traditional standard marine containers. GenFlat plans to operate as a container sales and leasing company and supply GenFlat's patented marine container primarily to shipping line customers under a variety of shor

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View this 10-Q filing on SEC EDGAR