Hestia Insight Inc. Files Q2 2024 10-Q

TL;DR

Hestia Insight Inc. dropped its Q2 2024 10-Q. Check financials.

AI Summary

Hestia Insight Inc. filed its 10-Q for the period ending May 31, 2024. The filing covers the second quarter of fiscal year 2024. Key financial data points and disclosures related to the company's operations and financial position are included in this report.

Why It Matters

This filing provides investors with an update on Hestia Insight Inc.'s financial performance and operational status for the second quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not appear to contain any immediately alarming or unusual disclosures.

Key Players & Entities

• Hestia Insight Inc. (company) — Filer of the 10-Q report
• 0001829126-24-004914 (other) — Accession number for the filing
• 20240531 (date) — Period of report for the 10-Q
• 20240722 (date) — Filing date of the 10-Q
• 8742 (other) — Standard Industrial Classification code for Management Consulting Services
• NV (other) — State of incorporation
• 1130 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.001 — Exchange Act: Common Stock, par value $0.001 per share (Title of class) As of Jul

Filing Documents

• hestialnsightinc_10q.htm (10-Q) — 477KB
• hestialnsightinc_ex31-1.htm (EX-31.1) — 11KB
• hestialnsightinc_ex31-2.htm (EX-31.2) — 11KB
• hestialnsightinc_ex32.htm (EX-32) — 5KB
• 0001829126-24-004914.txt ( ) — 2523KB
• hsta-20240531.xsd (EX-101.SCH) — 23KB
• hsta-20240531_cal.xml (EX-101.CAL) — 34KB
• hsta-20240531_def.xml (EX-101.DEF) — 37KB
• hsta-20240531_lab.xml (EX-101.LAB) — 159KB
• hsta-20240531_pre.xml (EX-101.PRE) — 117KB
• hestialnsightinc_10q_htm.xml (XML) — 309KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Consolidated Balance Sheets as of May 31, 2024 (Unaudited) and November 30, 2023 (Unaudited) 1 Consolidated Statements of Operations for the Three and Six months ended May 31, 2024 (Unaudited) and May 31, 2023 (Unaudited) 2 Consolidated Statement of Changes in Stockholders' Equity for the Six months ended May 31, 2024 (Unaudited) and May 31, 2023 (Unaudited) 3 Consolidated Statements of Cash Flows for the Six months ended May 31, 2024 (Unaudited) and May 31, 2023 (Unaudited) 4 Notes to Unaudited Consolidated Financial Statements 5 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 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 23 i

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This report contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements but are not deemed to represent an all-inclusive means of identifying forward-looking statements as denoted in this report. Additionally, statements concerning future matters are forward-looking Although forward-looking statements in this report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, without limitation, those specifically addressed under the headings "Risks Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10-K, in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Form 10-Q and information contained in other reports that we file with the SEC. You are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We file reports with the SEC. The SEC maintains a website (www.sec.gov) that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC, including us. You can also read and copy any materials we file with the SEC at the SEC's Public Reference Room at 100 F Street, NE, Washington, DC 20549. You can obtain additional information about th

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. HESTIA INSIGHT INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS As of May 31, 2024 (Unaudited) and November 30, 2023 (Unaudited) May 31, 2024 November 30, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 61,444 $ 93,890 Investments in equities 1,276,903 73,006 Accounts Receivable; net of allowance for doubtful accounts of $ 0 and $ 0 as of May 31, 2024, and November 30, 2023, respectively. 24,000 - Total current assets 1,362,347 166,896 FIXED ASSETS: Vending machines; net of accumulated depreciation of $ 8,934 and $ 6,510 as of May 31, 2024, and November 30. 2023, respectively. 25,018 27,442 Total fixed assets 25,018 27,442 OTHER ASSETS: - - TOTAL ASSETS $ 1,387,366 $ 194,338 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 28,976 $ 16,214 Related Party – Note Payable 53,931 - Total current liabilities 82,907 16,214 LONG TERM LIABILITIES: - - TOTAL LIABILITIES 82,907 16,214 STOCKHOLDERS' EQUITY: Common stock, par value $ 0.001 per share; 285,000,000 shares authorized; 27,939,260 and 27,939,260 shares issued and outstanding as of May 31, 2024, and November 30, 2023, respectively. 27,939 27,939 Cancelled Shares, 5,100,000 and 5,100,000 shares as of May 31, 2024, and November 30. 2023, respectively [Note 7 and Note 8]. 5,100 5,100 Additional paid in capital 901,613 901,613 Accumulated earnings/(deficits) 369,807 ( 756,528 ) Total stockholders' equity 1,304,458 178,124 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,387,366 $ 194,338 The accompanying notes are an integral part of these unaudited consolidated financial 1 HESTIA INSIGHT INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS For the three and six months ended May 31, 2024, and May 31, 2023 (Unaudited) For the Three Months Ended May 31, For the Six Months Ended May 31, 2024 2023 2024 2023

View Full Filing

View this 10-Q filing on SEC EDGAR