Hi-Great Group Holding Co. Files 10-K/A Amendment

TL;DR

<b>Hi-Great Group Holding Co. has filed an amendment to its 2022 10-K report.</b>

AI Summary

Hi-Great Group Holding Co (HIGR) filed a Amended Annual Report (10-K/A) with the SEC on March 19, 2024. This filing is an Amendment No. 1 to Form 10-K for the fiscal year ended December 31, 2022. The company is registered under the SIC code 7011 (Hotels & Motels). Hi-Great Group Holding Co. is incorporated in Nevada. The principal executive offices are located at 621 South Virgil Ave, #460, Los Angeles, CA 90005. The company has common stock registered under Section 12(g) of the Act.

Why It Matters

For investors and stakeholders tracking Hi-Great Group Holding Co, this filing contains several important signals. This amendment indicates a potential correction or update to previously filed financial or operational information for the fiscal year 2022. As a smaller reporting company, the filing provides updated details on its corporate structure and reporting status.

Risk Assessment

Risk Level: low — Hi-Great Group Holding Co shows low risk based on this filing. The filing is an amendment to a previous 10-K, suggesting potential revisions to past disclosures rather than new material events.

Analyst Insight

Monitor for any significant changes or clarifications in the amended 10-K filing that could impact the company's financial or operational standing.

Key Numbers

• 2022 — Fiscal Year End (Fiscal year ended December 31, 2022)
• 000-56200 — Commission File Number (SEC file number for the company)
• 46-2218131 — IRS Number (Company's IRS Employer Identification Number)
• 7011 — SIC Code (Standard Industrial Classification for Hotels & Motels)
• 0001807616 — Central Index Key (Company's Central Index Key)

Key Players & Entities

• Hi-Great Group Holding Co. (company) — Filer name
• 2022 (date) — Fiscal year ended
• December 31 (date) — Fiscal year ended
• 000-56200 (other) — Commission file number
• Nevada (other) — State of incorporation
• 46-2218131 (other) — I.R.S. Employer Identification No.
• 621 South Virgil Ave, #460 (other) — Address of Principal Executive Offices
• Los Angeles, CA 90005 (other) — Address of Principal Executive Offices

FAQ

Industry Context

The company operates within the Hotels & Motels industry, classified under SIC code 7011.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically an amended 10-K report.

What Investors Should Do

1. Review the full amended 10-K filing for specific details on any changes made.
2. Track future filings from Hi-Great Group Holding Co. for ongoing operational and financial updates.
3. Analyze the company's position within the Hotels & Motels sector based on its disclosures.

Key Dates

• 2022-12-31: Fiscal Year End — The period covered by the original 10-K filing.
• 2024-03-19: Filing Date of Amendment — Date this Amendment No. 1 to Form 10-K was filed.

Year-Over-Year Comparison

This is an amendment to the 10-K filing for the fiscal year ended December 31, 2022.

Key Financial Figures

• $0.001 — ction 12(g) of the Act: Common Stock, $0.001 par value Indicate by check mark if t
• $70,000 — avid Lazar) at par for shares valued at $70,000 in exchange for settlement of a portion
• $16,100 — dvanced to the Company in the amount of $16,100, and the promissory note issued to the
• $53,900 — ote issued to the Company in the amount $53,900. On October 14, 2019, as a result of a
• $10,000 — Dae Jae Lee at par for shares valued at $10,000. Our Company plans to grow organically
• $207,854 — the year ended December 31, 2022 we had $207,854 of sales compared to $264,194 for the y
• $264,194 — 22 we had $207,854 of sales compared to $264,194 for the year ended December 31, 2021. O
• $112,834 — or the year ended December 31, 2022 was $112,834 compared to $155,239 for the year ended
• $155,239 — ember 31, 2022 was $112,834 compared to $155,239 for the year ended December 31, 2021. T
• $40,700 — ear ended December 31, 2022 we incurred $40,700 of professional fee expenses compared t
• $58,000 — f professional fee expenses compared to $58,000 for the year ended December 31, 2021. T
• $30,000 — ear ended December 31, 2022 we incurred $30,000 of rent expense compared to $30,000 for
• $21,021 — ear ended December 31, 2022 we incurred $21,021 of G&A expense compared to $16,560 for
• $16,560 — rred $21,021 of G&A expense compared to $16,560 for the year ended December 31, 2021. T
• $0 — er 31, 2022, we had interest expense of $0, compared to interest expense of $307 f

Filing Documents

• ea0202137-10ka1_higreat.htm (10-K/A) — 368KB
• ea020213701ex31-1_higreat.htm (EX-31.1) — 16KB
• ea020213701ex32-1_higreat.htm (EX-32.1) — 4KB
• image_001.jpg (GRAPHIC) — 2KB
• 0001213900-24-024103.txt (&nbsp;) — 1937KB
• higr-20221231.xsd (EX-101.SCH) — 20KB
• higr-20221231_cal.xml (EX-101.CAL) — 29KB
• higr-20221231_def.xml (EX-101.DEF) — 91KB
• higr-20221231_lab.xml (EX-101.LAB) — 212KB
• higr-20221231_pre.xml (EX-101.PRE) — 100KB
• ea0202137-10ka1_higreat_htm.xml (XML) — 105KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 5 Item 1B. Unresolved Staff Comments 5 Item 2.

Properties

Properties 5 Item 3.

Legal Proceedings

Legal Proceedings 5 Item 4. Mine Safety Disclosures 5 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 6 Item 6. Reserved 7 Item 7.

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

Management's Discussion And Analysis of Financial Condition And Results of Operations 7 Item 7A. Quantitative and Qualitative Disclosure About Market Risk 8 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 9 Item 9A.

Controls and Procedures

Controls and Procedures 9 Item 9B. Other Information 10 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 10 PART III Item 10. Directors, Executive Officers and Corporate Governance 11 Item 11.

Executive Compensation

Executive Compensation 13 Item 12.

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

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 14 Item 13. Certain Relationships and Related Transactions, and Director Independence 15 Item 14. Principal Accountant Fees and Services 15 PART IV Item 15. Exhibits and Financial Statement Schedules 16

SIGNATURES

SIGNATURES 17 i Part I

BUSINESS

ITEM 1. BUSINESS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Unless the context indicates otherwise, as used in this Annual Report, the terms "HIGR," "we," "us," "our," "our company" and "our business" refer, to High-Great Holding Company, including its subsidiaries named herein. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements." These forward-looking "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. 1 THE COMPANY Our Business Hi-Great Group Holding Company (the "Company") is a development stage enterprise that was originally incorporated, on September 30, 2010, under the laws of the State of Nevada. On March 08, 2019, the eight judicial District Court of Nevada appointed Custodian Ventures, LLC as custodian for Hi-Great Group Holding Company, proper notice having been given to the offic

, RISK FACTORS

ITEM 1A, RISK FACTORS We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this Item.

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS None

PROPERTIES

ITEM 2. PROPERTIES The Company's headquarters are located 621 S. Virgil Avenue #470, Los Angeles, CA 90005. Our phone number is (213) 219-7746. Management believes that our current leased property will be sufficient for its current and immediately foreseeable administrative needs.

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS There are no legal proceedings that have occurred within the past five years concerning the Company, our directors, or control persons which involved a criminal conviction, a criminal proceeding, an administrative or civil proceeding limiting one's participation in the securities or banking industries, or a finding of securities or commodities law violations.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES Not applicable. 5 Part II

MARKET FOR COMMON EQUITY AND RELATED

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information Our common stock is quoted on the OTC Pink Sheets under the symbol "HIGR." Holders As of the date of this report there were approximately 69 holders of record of Company common stock. This does not include an indeterminate number of persons who hold our Common Stock in brokerage accounts and otherwise in "street name." Stock Authorized The Company is authorized to issue two classes of stock. The total number of shares of stock which the Company is authorized to issue is One Billion One Hundred Ten Million (1,110,000,000) shares of capital stock, consisting of One Billion One Hundred Million (1,100,000,000) shares of Common Stock, $0.001 par value and Ten Million (10,000,000) shares of preferred stock, $0.001 par value (the "Preferred Stock"). Dividends We have not previously declared or paid any dividends on our common stock and do not anticipate declaring any dividends in the foreseeable future. The payment of dividends on our common stock is within the discretion of our board of directors. Options and Warrants We do not have any outstanding options or warrants. Securities Authorized for Issuance under Equity Compensation Plans The Company does not have any equity compensation plans or any individual compensation arrangements with respect to its Common Stock or Preferred Stock. The issuance of any of our Common Stock or Preferred Stock is within the discretion of our Board of Directors, which has the power to issue any or all of our authorized but unissued shares without stockholder approval. Transfer Agent The transfer agent for our Common Stock is Globex Transfer, LLC at 780 Deltona Blvd., Suite 202, Deltona, FL 32725. The transfer agent's telephone number is (813) 344-4490. Recent Sales of Unregistered Securities None Securities authorized for issuance under equity compensation plans We do not have any equity c

RESERVED

ITEM 6. RESERVED Not required for smaller reporting companies.

MANAGEMENTS

ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Overview Plan of Operation Our principal business objective is to maximize shareholders returns through a combination of (1) distributions to our shareholders, (2) sustainable long-term growth in cash flows from distribution of our products, which we hope to pass on to shareholders in the form of distributions, (3) potential long-term appreciation in the value of our properties from capital gains upon future sale, (4) other sustainable agricultural business opportunity which the Board of Directors determines to be beneficial to Company, or (5) distribution of plant-based finished consumer product and integrate the use of CBD Oils into its worldwide health supplement business to include expansion into the cosmetics sector using multiple strains of CBD oils and compounds. For the 12 months following the commencement of the offering the Company will focus on two areas of operations. These two core business activities will be the continued the sales of its Nutritional Health Supplements and the build out of the Harvest Island Garden Resort. The Nutritional Health Supplements will be sold primarily online and the new retail website is currently being redesigned and developed to increase internet traffic and customer retention. For the first 12 months, no additional products will be added to the current supplement line. New branding is in development to update the marketing and online image and presentment in a very competitive nutritional supplement industry. The Company plans to also update the customer experience with online videos with renown experts in the Patent areas of alkalization, amino acids, advanced minerals and the use of whole rice concentrates and how these methods and ingredients may help the user increase overall health and wellness. Results of Operations for the Year Ended December 31, 2022 compared to the Year Ended December 31, 2021 Sales and Cost o

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Not applicable to a smaller reporting company. 8

FINANCIAL

ITEM 8. FINANCIAL INDEX TO FINANCIAL STATEMENTS Report of Independent Registered Public Accounting Firm PCAOB ID # 6662 F-2 Balance Sheets as of December 31, 2022 and 2021 F-4 Notes to the Financial Statements F-8 F-1 M N VIJAYKUMAR Chartered Accountant REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To The Board of Directors and Shareholders Hi-Great Group Holding Company 621 Virgil Ave., Ste 470 Los Angeles, CA 90005 Opinion on the financial statements We audited the accompanying balance sheet of Hi-Great Group Holding

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View this 10-K/A filing on SEC EDGAR