Healthcare Integrated Technologies Files Q1 10-Q
Ticker: SSGC · Form: 10-Q · Filed: Dec 13, 2024 · CIK: 1584693
Sentiment: neutral
Topics: 10-Q, quarterly-report, healthcare
TL;DR
HITC filed its Q1 10-Q, covering the period up to Oct 31, 2024. Check financials.
AI Summary
Healthcare Integrated Technologies Inc. filed its 10-Q for the period ending October 31, 2024. The company, formerly known as GRASSHOPPER STAFFING, INC., is incorporated in Nevada and based in Knoxville, TN. The filing covers the first quarter of their fiscal year, which ends on July 31st.
Why It Matters
This filing provides investors with an update on the company's financial performance and operational status for the first quarter of the fiscal year.
Risk Assessment
Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new disclosures.
Key Numbers
- Q1 — Quarter (Reporting period)
- 2024-10-31 — Period End Date (Financial reporting period)
- 2024-12-13 — Filing Date (Date the report was submitted to the SEC)
Key Players & Entities
- Healthcare Integrated Technologies Inc. (company) — Filer
- GRASSHOPPER STAFFING, INC. (company) — Former company name
- Tomichi Creek Outfitters (company) — Former company name
- 10-Q (document) — Filing type
- 20241031 (date) — Reporting period end date
- 20241213 (date) — Filing date
- 0731 (date) — Fiscal year end
FAQ
What is the primary business of Healthcare Integrated Technologies Inc.?
The SIC code listed is 'SERVICES-AMUSEMENT & RECREATION SERVICES [7900]', suggesting a focus in that area, though the company name implies healthcare integration.
When does Healthcare Integrated Technologies Inc.'s fiscal year end?
The company's fiscal year ends on July 31st (0731).
What were the previous names of Healthcare Integrated Technologies Inc.?
The company was formerly known as GRASSHOPPER STAFFING, INC. (name change 20160122) and Tomichi Creek Outfitters (name change 20130819).
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending October 31, 2024.
Where is Healthcare Integrated Technologies Inc. located?
The company's business and mailing address is 1462 Rudder Lane, Knoxville, TN 37919.
Filing Stats: 4,384 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-12-13 09:15:23
Filing Documents
- form10-q.htm (10-Q) — 651KB
- 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) — 7KB
- form10-q_001.jpg (GRAPHIC) — 13KB
- 0001493152-24-049910.txt ( ) — 3840KB
- hitc-20241031.xsd (EX-101.SCH) — 29KB
- hitc-20241031_cal.xml (EX-101.CAL) — 38KB
- hitc-20241031_def.xml (EX-101.DEF) — 135KB
- hitc-20241031_lab.xml (EX-101.LAB) — 245KB
- hitc-20241031_pre.xml (EX-101.PRE) — 208KB
- form10-q_htm.xml (XML) — 500KB
– 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. 11
Controls and Procedures
Item 4. Controls and Procedures. 11
– OTHER INFORMATION
PART II – OTHER INFORMATION 12
Legal Proceedings
Item 1. Legal Proceedings. 12
Risk Factors
Item 1A. Risk Factors. 12
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 12
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities. 12
Mine Safety Disclosures
Item 4. Mine Safety Disclosures. 12
Other Information
Item 5. Other Information. 12
Exhibits
Item 6. Exhibits. 12
SIGNATURES
SIGNATURES 13 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 also are 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
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 Allowance for Credit losses In accordance with ASC 326, Financial Instruments – Credit Losses , we recognize an allowance for credit losses on acquired financial assets with credit deterioration since origination. The allowance of credit losses is measured based on the Current Expected Credit Loss (CECL) model, which requires an estimate of the expected credit losses over the life of the financial asset. This estimate considers historical loss information, current conditions, and reasonable and supportable forecasts. The allowance for credit losses, if any, is recorded as a reduction to the carrying amount of the financial asset, with a corresponding charge to earnings. 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 wh