HUMBL, INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>HUMBL, INC. has filed its 2023 10-K report detailing financial performance and historical company information.</b>

AI Summary

HUMBL, INC. (RWAX) filed a Annual Report (10-K) with the SEC on March 28, 2024. HUMBL, INC. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing includes financial data for the periods ending December 31, 2023, and December 31, 2022. Key financial statement components such as Preferred Stock (Series A, B, C), Common Stock, Additional Paid-In Capital, and Retained Earnings are detailed for multiple fiscal years. The company previously operated under the names Tesoro Enterprises, Inc., Tesoro Distributors, Inc., and IWT TESORO CORP. The filing was submitted on March 28, 2024.

Why It Matters

For investors and stakeholders tracking HUMBL, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of HUMBL, INC.'s financial position and operational results for the fiscal year 2023, allowing investors to assess the company's performance and outlook. The detailed breakdown of equity components and historical name changes offers insight into the company's evolution and capital structure, which are crucial for understanding its financial health and strategic direction.

Risk Assessment

Risk Level: medium — HUMBL, INC. shows moderate risk based on this filing. The company's financial health and future prospects are subject to the risks inherent in its business operations and market conditions, as detailed in its 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand HUMBL, INC.'s current financial standing and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K.)
• 2024-03-28 — Filing Date (Date the 10-K was filed.)
• 2023-01-01 — Fiscal Year Start (Beginning of the reporting period.)
• 2022-12-31 — Prior Year End (Comparison period.)

Key Players & Entities

• HUMBL, INC. (company) — Filer of the 10-K report.
• Tesoro Enterprises, Inc. (company) — Former name of HUMBL, INC.
• Tesoro Distributors, Inc. (company) — Former name of HUMBL, INC.
• IWT TESORO CORP (company) — Former name of HUMBL, INC.

FAQ

Industry Context

HUMBL, INC. operates within the wholesale durable goods sector, as indicated by its SIC code 5000.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Review HUMBL, INC.'s detailed financial statements for the fiscal year 2023.
2. Analyze the breakdown of equity components, including preferred and common stock, for insights into capital structure.
3. Examine any disclosed risk factors and management discussion to understand potential challenges and strategic initiatives.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-28: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ended December 31, 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 HMBL OTC Pink Indicate by check m
• $40,000 — e in return for Brian Foote assigning a $40,000 promissory note from HUMBL LLC to Henry
• $2,040,000 — Pursuant to the SPA, agreed to purchase $2,040,000 in Series C Preferred Stock. This finan
• $1,000,000 — acific Lion has failed to purchase over $1,000,000 in Series C Preferred Stock that it agr
• $1.0 billion — h Company As a company with less than $1.0 billion in revenue during our most recently com
• $4,022,449 — ember 31, 2023 as well as a net loss of $4,022,449 and $48,567,938 for the years ended Dec
• $48,567,938 — as well as a net loss of $4,022,449 and $48,567,938 for the years ended December 31, 2023 a

Filing Documents

• form10-k.htm (10-K) — 3998KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-011766.txt (&nbsp;) — 18253KB
• hmbl-20231231.xsd (EX-101.SCH) — 112KB
• hmbl-20231231_cal.xml (EX-101.CAL) — 98KB
• hmbl-20231231_def.xml (EX-101.DEF) — 616KB
• hmbl-20231231_lab.xml (EX-101.LAB) — 815KB
• hmbl-20231231_pre.xml (EX-101.PRE) — 709KB
• form10-k_htm.xml (XML) — 3408KB

BUSINESS

BUSINESS 3 ITEM 1A. RISK FACTORS 7 ITEM 1B. UNRESOLVED STAFF COMMENTS 17 ITEM IC. CYBERSECURITY 17 ITEM 2.

PROPERTIES

PROPERTIES 18 ITEM 3. LEGAL PROCEEDINGS 18 ITEM 4. MINE SAFETY DISCLOSURES 18 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 19 ITEM 6. [RESERVED] 19 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 19 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 25 ITEM 8. FINANCIAL 26 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 74 ITEM 9A. CONTROLS AND PROCEDURES 74 ITEM 9B. OTHER INFORMATION 74 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 74 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERANCE 75 ITEM 11. EXECUTIVE COMPENSATION 78 ITEM 12. SECURITY 85 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 86 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 87 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 88 ITEM 16. FORM 10-K SUMMARY 88

SIGNATURES

SIGNATURES 89 2 Table of Contents PART I ITEM 1. BUSINESS OVERVIEW HUMBL, Inc. ("HUMBL" or the "Company") is a Web 3, digital commerce company that operates a platform to connect consumers, businesses and governments in the digital economy. HUMBL provides simple tools and packaging for complex new technologies such as blockchain, in the same way that previous cycles of e-commerce and the cloud were more simply packaged by companies such as Facebook, Apple, Amazon and Netflix over the past several decades. The Company through its product offerings is looking to simplify and package the digital economy for consumers, businesses and governments. The goal of HUMBL is to provide ready built tools and platforms for consumers to seamlessly participate in the digital economy. HUMBL is built on a patent-pending, decentralized technology stack that utilizes both core and partner technologies to provide faster connections to the digital economy and each other. The Company is organized into two divisions: a) HUMBL Consumer, and b) HUMBL Commercial. Through these two divisions the Company offers its core products and services. The majority of the Company's operations in 2023 were focused on the consumer division. HUMBL – A Verified Commerce Platform HUMBL delivers a digital wallet and website as our core services. HUMBL provides customers with the ability to connect with consumers and merchants that have all been fully verified. 1. HUMBL Wallet 2. HUMBL.com 3. HUMBL Commercial Services HUMBL Wallet The HUMBL Wallet is a 4.9 star application that is available for download on major app stores. The HUMBL Wallet is the centerpiece of the consumer experience on the HUMBL platform. The HUMBL Wallet consolidates a variety of services for customers in one place and helps us to verify customers and merchants. The HUMBL Wallet includes the following features: - Search Engine - Social Media - Marketplace - Digital Payments The HUMBL Wallet is

View Full Filing

View this 10-K filing on SEC EDGAR