QHSLab, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>QHSLab, Inc. (USAQ) has filed its 2023 10-K, detailing financial performance and risks.</b>

AI Summary

QHSLab, Inc. (USAQ) filed a Annual Report (10-K) with the SEC on March 27, 2024. QHSLab, Inc. (formerly USA Equities Corp.) filed its annual report for the fiscal year ending December 31, 2023. The company is incorporated in Nevada and operates in the Surgical & Medical Instruments & Apparatus industry (SIC 3841). The filing includes detailed financial information for the fiscal years 2021, 2022, and 2023. Key financial statement items such as preferred stock, common stock, additional paid-in capital, and retained earnings are presented for these periods. The report also highlights customer concentration risk related to accounts receivable for Customers One and Two.

Why It Matters

For investors and stakeholders tracking QHSLab, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of QHSLab's financial health and operational status for the fiscal year 2023, crucial for investors assessing the company's performance and future prospects. The disclosure of customer concentration risk is important for understanding potential revenue volatility and the company's reliance on a few key clients.

Risk Assessment

Risk Level: medium — QHSLab, Inc. shows moderate risk based on this filing. The company faces medium risk due to customer concentration, as indicated by the mention of specific customers (CustomerOne, CustomerTwo) in relation to accounts receivable, suggesting potential revenue instability if these customers reduce business.

Analyst Insight

Investors should closely examine QHSLab's strategies for customer diversification and revenue stability in light of the disclosed customer concentration risks.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-27 — Filing Date (Date of submission)
• 2023-01-01 — Fiscal Year Start (Reporting period)
• 2022-12-31 — Prior Year End (Comparative period)
• 2021-12-31 — Prior Year End (Comparative period)

Key Players & Entities

• QHSLab, Inc. (company) — Filer name
• USA EQUITIES CORP. (company) — Former company name
• AMERICAN BIOGENETIC SCIENCES INC (company) — Former company name
• NV (company) — State of incorporation
• WEST PALM BEACH (company) — Business address city
• CustomerOne (company) — Customer mentioned for concentration risk
• CustomerTwo (company) — Customer mentioned for concentration risk
• 3841 (industry) — Standard Industrial Classification

FAQ

Risk Factors

• Customer Concentration Risk [medium — financial]: The company faces risks related to customer concentration, as evidenced by specific customer mentions in the context of accounts receivable.

Industry Context

QHSLab, Inc. operates within the Surgical & Medical Instruments & Apparatus industry, a sector focused on the development and manufacturing of medical devices and equipment.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) for publicly traded companies in the United States.

What Investors Should Do

1. Analyze QHSLab's financial statements for the fiscal years 2021-2023 to understand revenue trends and profitability.
2. Investigate the nature of the customer concentration risk and QHSLab's strategies to mitigate it.
3. Review any management discussion and analysis (MD&A) sections within the full filing for further insights into business operations and outlook.

Year-Over-Year Comparison

This 10-K filing provides the annual financial overview for QHSLab, Inc. for the fiscal year ending December 31, 2023, following previous filings which would have covered prior periods.

Key Financial Figures

• $0.0001 — e on Which Registered Common Stock, $0.0001 Par Value USAQ NA Indicate by che
• $0.148 — k held by non-affiliates and a price of $0.148 per share, the closing price of our com

Filing Documents

• form10-k.htm (10-K) — 905KB
• ex19-2.htm (EX-19.2) — 28KB
• ex31.htm (EX-31) — 11KB
• ex32.htm (EX-32) — 7KB
• form10-k_001.jpg (GRAPHIC) — 24KB
• 0001493152-24-011551.txt (&nbsp;) — 4209KB
• usaq-20231231.xsd (EX-101.SCH) — 30KB
• usaq-20231231_cal.xml (EX-101.CAL) — 48KB
• usaq-20231231_def.xml (EX-101.DEF) — 134KB
• usaq-20231231_lab.xml (EX-101.LAB) — 266KB
• usaq-20231231_pre.xml (EX-101.PRE) — 215KB
• form10-k_htm.xml (XML) — 463KB

BUSINESS

BUSINESS 3 ITEM 1A.

RISK FACTORS

RISK FACTORS 9 ITEM 1B. UNRESOLVED STAFF COMMENTS 20 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 21 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 22 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 23 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 27 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 28 ITEM 9B. OTHER INFORMATION 28 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 28 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 29 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 29 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS 30 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 31 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 31 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 31 ITEM 16. FORM 10-K SUMMARY 31 Cautionary This Annual Report on Form 10-K includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about our Company, our products, the markets in which we compete and general economic conditions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue," or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in this Annual Report on Form 10-K and in our other Securities and Exchange Commission filings. 2 PART I ITEM 1. BUSINESS. Background We are a medical device technology and software as a service (SaaS) company focused on enabling primary care physicians (PCP's) and other healthcare providers to increase their revenues by providing them with relevant, value-based tools to evaluate and treat chronic disease as well as provide preventive care through re

View Full Filing

View this 10-K filing on SEC EDGAR