Healthcare Integrated Technologies Inc. Files Q3 10-Q

TL;DR

HITC filed its Q3 10-Q. Financials and operations update.

AI Summary

Healthcare Integrated Technologies Inc. filed its 10-Q for the period ending April 30, 2024. The company, formerly known as GRASSHOPPER STAFFING, INC., is incorporated in Nevada and operates in the amusement and recreation services sector. Its fiscal year ends on July 31st, with the current filing covering the third quarter.

Why It Matters

This filing provides investors with an update on the financial performance and operational status of Healthcare Integrated Technologies Inc. for the third quarter of their fiscal year.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not contain immediate red flags or significant negative disclosures.

Key Numbers

• 20240430 — Reporting Period End Date (The 10-Q covers financial information up to this date.)
• 20240620 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 0731 — Fiscal Year End (Indicates the end of the company's annual financial reporting cycle.)

Key Players & Entities

• Healthcare Integrated Technologies Inc. (company) — Filer
• GRASSHOPPER STAFFING, INC. (company) — Former company name
• Tomichi Creek Outfitters (company) — Former company name
• NV (state) — State of incorporation
• TN (state) — State of business address

FAQ

Key Financial Figures

• $0.001 — ction 12(g) of the Act: Common Stock, $0.001 par value (Title of class) Indicate

Filing Documents

• form10-q.htm (10-Q) — 719KB
• ex10-5.htm (EX-10.5) — 6KB
• ex31-1.htm (EX-31.1) — 20KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• form10-q_001.jpg (GRAPHIC) — 4KB
• ex10-5_001.jpg (GRAPHIC) — 373KB
• ex10-5_002.jpg (GRAPHIC) — 360KB
• ex10-5_003.jpg (GRAPHIC) — 376KB
• ex10-5_004.jpg (GRAPHIC) — 421KB
• ex10-5_005.jpg (GRAPHIC) — 417KB
• ex10-5_006.jpg (GRAPHIC) — 375KB
• ex10-5_007.jpg (GRAPHIC) — 43KB
• ex10-5_008.jpg (GRAPHIC) — 54KB
• 0001493152-24-024375.txt ( ) — 7271KB
• hitc-20240430.xsd (EX-101.SCH) — 28KB
• hitc-20240430_cal.xml (EX-101.CAL) — 39KB
• hitc-20240430_def.xml (EX-101.DEF) — 137KB
• hitc-20240430_lab.xml (EX-101.LAB) — 253KB
• hitc-20240430_pre.xml (EX-101.PRE) — 212KB
• form10-q_htm.xml (XML) — 484KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION F-1

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited). F-1

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 4

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk. 13

Controls and Procedures

Item 4. Controls and Procedures. 13

– OTHER INFORMATION

PART II – OTHER INFORMATION 14

Legal Proceedings

Item 1. Legal Proceedings. 14

Risk Factors

Item 1A. Risk Factors. 14

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 14

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities. 14

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 14

Other Information

Item 5. Other Information. 14

Exhibits

Item 6. Exhibits. 15

SIGNATURES

SIGNATURES 16 2 Unless the context clearly indicates otherwise, when used in this report "we," "us," "our," "Healthcare Integrated Technologies," "Company," or "our Company" refers to Healthcare Integrated Technologies, Inc. and, if applicable, our subsidiaries. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Report") contains "forward-looking statements" within the meaning of the Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements discuss matters that are not historical facts. Because they discuss future events or conditions, forward-looking statements may include words such as "anticipate," "believe," "estimate," "intend," "could," "should," "would," "may," "seek," "plan," "might," "will," "expect," "predict," "project," "forecast," "potential," "continue," negatives thereof or similar expressions. These forward-looking statements are found at various places throughout this Report and include information concerning: possible or assumed future results of our operations; business strategies; future cash flows; financing plans; plans and objectives of management; any other statements regarding future operations, future cash needs, business plans and future financial results; and any other statements that are not historical facts. From time to time, forward-looking statements are also included in our other periodic reports on Form 8-K, in our press releases, in our presentations, on our website and in other materials released to the public. Any or all the forward-looking statements included in this Report and in any other reports or public statements made by us are not guarantees of future performance and may turn out to be inaccurate. These forward-looking statements represent our intentions, plans, expectations, assumptions, and beliefs about future events and are subje

Business

Business Combinations We account for business combinations under the acquisition method of accounting. The acquisition method requires that the acquired assets and liabilities, including contingencies, be recorded at fair value determined on the acquisition date and that changes thereafter be reflected in income (loss). The estimation of fair values of the assets and liabilities assumed involves several estimates and assumptions that could differ materially from the actual amounts recorded. The results of the acquired businesses are included in our results from operations beginning from the day of acquisition. F-6 Risk and Uncertainties Factors that could affect our future operating results and cause actual results to vary materially from management's expectation include, but are not limited to: our ability to maintain and secure adequate capital to fund our operations and fully develop our product(s); our ability to source strong opportunities with sufficient risk adjusted returns; acceptance of the terms and conditions of our licenses and/or the acceptance of our royalties and fees; the nature and extent of competition from other companies that may reduce market share and create pressure on pricing and investment return expectations; changes in the projects in which we plan to invest which result from factors beyond our control, including, but not limited to, a change in circumstances, capacity and economic impacts; changes in laws, regulations, accounting, taxation, and other requirements affecting our operations and business. Negative developments in these or other risk factors could have a significant adverse effect on our financial position, results of operations and cash flows. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dat

View Full Filing

View this 10-Q filing on SEC EDGAR