Healthier Choices Management Corp. Files 2023 Annual Report

TL;DR

<b>Healthier Choices Management Corp. (HCMC) has filed its 2023 10-K report, detailing its operations in the tobacco and grocery sectors.</b>

AI Summary

Healthier Choices Management Corp. (HCMC) filed a Annual Report (10-K) with the SEC on March 27, 2024. Healthier Choices Management Corp. (HCMC) filed its 10-K for the fiscal year ending December 31, 2023. The company operates in the Tobacco Products industry (SIC 2100). HCMC was formerly known as Vapor Corp. and Miller Diversified Corp. The filing includes financial data for its VaporMember and GroceryMember segments. Key dates include the filing date of March 27, 2024, and the fiscal year end of December 31, 2023.

Why It Matters

For investors and stakeholders tracking Healthier Choices Management Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of HCMC's financial performance and business operations for the fiscal year 2023, crucial for investors assessing the company's current standing. The report's details on segments like VaporMember and GroceryMember, along with historical company name changes, offer insights into the company's evolution and strategic focus.

Risk Assessment

Risk Level: medium — Healthier Choices Management Corp. shows moderate risk based on this filing. The company's filing history and industry classification suggest potential volatility and regulatory scrutiny common in the tobacco and related product sectors.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand HCMC's performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-03-27 — Filing Date (Date of submission)
• 001-36469 — SEC File Number (Associated SEC filing number)
• 2100 — SIC Code (Standard Industrial Classification for Tobacco Products)

Key Players & Entities

• Healthier Choices Management Corp. (company) — Filer name
• HCMC (company) — Ticker symbol
• Vapor Corp. (company) — Former company name
• Miller Diversified Corp (company) — Former company name
• Tobacco Products (industry) — Standard Industrial Classification
• Hollywood (location) — Business address city
• DE (location) — State of incorporation
• 2024-03-27 (date) — Filing date

FAQ

Risk Factors

• Supplier Concentration Risk [medium — market]: The company faces supplier concentration risk related to its net sales revenue, indicating a potential dependency on specific vendors.

Key Dates

• 2024-03-27: 10-K Filing — Submission of the annual report for the fiscal year ended December 31, 2023.
• 2023-12-31: Fiscal Year End — End date of the reporting period covered by the 10-K.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the primary financial and business overview for Healthier Choices Management Corp. for the year 2023.)

SIC Code

Standard Industrial Classification code used to classify industries. (Indicates Healthier Choices Management Corp. operates within the Tobacco Products sector.)

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share HCMC OTC Pink Marketplace

Filing Documents

• form10-k.htm (10-K) — 1584KB
• ex2-1f.htm (EX-2.1F) — 101KB
• ex3-1i.htm (EX-3.1I) — 13KB
• ex10-9.htm (EX-10.9) — 175KB
• ex10-10.htm (EX-10.10) — 19KB
• ex21-1.htm (EX-21.1) — 23KB
• ex23-1.htm (EX-23.1) — 3KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 12KB
• 0001493152-24-011537.txt (&nbsp;) — 8501KB
• hcmc-20231231.xsd (EX-101.SCH) — 66KB
• hcmc-20231231_cal.xml (EX-101.CAL) — 89KB
• hcmc-20231231_def.xml (EX-101.DEF) — 300KB
• hcmc-20231231_lab.xml (EX-101.LAB) — 516KB
• hcmc-20231231_pre.xml (EX-101.PRE) — 435KB
• form10-k_htm.xml (XML) — 1140KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 14

Cybersecurity

Item 1C. Cybersecurity 14

Properties

Item 2. Properties 15

Legal Proceedings

Item 3. Legal Proceedings 15

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 15 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 16

Selected Financial Data

Item 6. Selected Financial Data 16

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 21

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 21

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 21

Controls and Procedures

Item 9A. Controls and Procedures 21

Other Information

Item 9B. Other Information 22 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 23

Executive Compensation

Item 11. Executive Compensation 26

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters 29

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 30

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 31 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 31 Exhibit Index 32

SIGNATURES

SIGNATURES 34 PART I Item 1. Business. Healthier Choices Management Corp. (the "Company") is a holding company focused on providing consumers with healthier daily choices with respect to nutrition and other lifestyle alternatives. Through its wholly owned subsidiary HCMC Intellectual Property Holdings, LLC, the Company manages its intellectual property portfolio. Through its wholly owned subsidiaries, Healthy Choice Markets, Inc., Healthy Choice Markets 2, LLC, Healthy Choice Markets 3, LLC, Healthy Choice Markets 3 Real Estate, LLC, Healthy Choice Markets IV, LLC, and Healthy Choice Markets V, LLC respectively, the Company operates: Ada's Natural Market, a natural and organic grocery store offering fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products, and natural household items ( www.Adasmarket.com ) Paradise Health & Nutrition's three stores that likewise offer fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products and natural household items, ( www.ParadiseHealthDirect.com ) Mother Earth's Storehouse, a two-store organic and health food and vitamin chain in New York's Hudson Valley, which has been in existence for over 40 years ( www.MotherEarthStorehouse.com ). Greens Natural Foods' eight stores in New York and New Jersey, offering a selection of 100% organic produce and all-natural, non-GMO groceries & bulk foods; a wide selection of local products; an organic juice and smoothie bar; a fresh foods department, which offers fresh and healthy "grab & go" foods; a full selection of vitamins & supplements; as well as health and beauty products ( www.Greensnaturalfoods.com ). Ellwood Thompson's, an organic and natural health food and vitamin store located in Richmond, Virginia. (www.ellwoodthompsons.com). Through its wholly o

View Full Filing

View this 10-K filing on SEC EDGAR