Hi-Great Group Holding Co. Files 2023 Annual Report

Ticker: HIGR · Form: 10-K · Filed: May 20, 2024 · CIK: 1807616

Sentiment: neutral

Topics: annual-report, 10-K, hotels-motels

TL;DR

Hi-Great Group Holding Co. filed its 2023 10-K. No 12(b) securities registered.

AI Summary

Hi-Great Group Holding Co. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company, incorporated in Nevada and headquartered in Los Angeles, CA, is primarily involved in the Hotels & Motels industry. Its principal executive offices are located at 621 South Virgil Ave, #460, Los Angeles, CA 90005. The company's common stock is registered under Section 12(g) of the Act, but no securities are registered under Section 12(b).

Why It Matters

This filing provides a comprehensive overview of Hi-Great Group Holding Co.'s financial performance and business operations for the fiscal year 2023, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant new disclosures that would suggest a high risk.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of Hi-Great Group Holding Co.?

Hi-Great Group Holding Co. is primarily involved in the Hotels & Motels industry, as indicated by its Standard Industrial Classification code 7011.

Where are Hi-Great Group Holding Co.'s principal executive offices located?

The principal executive offices of Hi-Great Group Holding Co. are located at 621 South Virgil Ave, #460, Los Angeles, CA 90005.

What type of securities are registered for Hi-Great Group Holding Co.?

The company's Common Stock, $0.001 par value, is registered pursuant to Section 12(g) of the Act.

Are any of Hi-Great Group Holding Co.'s securities registered under Section 12(b) of the Act?

No, the filing explicitly states that no securities are registered pursuant to Section 12(b) of the Act.

In which U.S. state was Hi-Great Group Holding Co. incorporated?

Hi-Great Group Holding Co. was incorporated in Nevada.

Filing Stats: 4,620 words · 18 min read · ~15 pages · Grade level 14.3 · Accepted 2024-05-20 12:09:06

Key Financial Figures

Filing Documents

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 DISCUSSION AND ANALYSIS

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, 2023 compared to the Year Ended December 31, 2022 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 STATEMENTS AND SUPPLEMENTARY

ITEM 8 , FINANCIAL STATEMENTS AND SUPPLEMENTARY INDEX TO FINANCIAL STATEMENTS Report of Independent registered Accounting Firm – PCAOB # 6222 F-2 Balance Sheets as of December 31, 2023 and 2022 F-3 Notes to the Financial Statements F-7 F-1 M N VIJAYKUMAR Chartered Accountant Report of Independent Registered Public Accounting Firm To the shareholders and the board of directors of Hi-Great Group Holding Company Opinion on the Financial We have audited the accompanying balance sheets of Hi-Great Group Holding Company (the "Company") as of December 31, 2023 and 2022, the related statements of operations, comprehensive income, stockholder's equity and cash flows, for each of the two years in the period ended December 31, 2023, and the related notes (collectively referred to as the financial statements

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