10-Q Filing

HEALTHTECH SOLUTIONS, INC./UT CIK: 1307624 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001262463-22-000117`
Period End Date	20220630
Filing Date	20220819
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	hltt63022q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 72 Cash Flow Statement 48 Stockholders Equity 22

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$69.19K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$7.11K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$138.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$383.88K	USD	Point-in-time
Other receivable	`OtherReceivablesNetCurrent`	$9.78K	USD	Point-in-time
Loan receivable	`LoansReceivableHeldForSaleAmount`	-	USD	Point-in-time
Loan receivable	`LoansReceivableHeldForSaleAmount`	$168.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$313.10K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$462.85K	USD	Point-in-time
Investment in and advance to non-consolidated affiliate	`DueFromAffiliateNoncurrent`	$110.00K	USD	Point-in-time
Investment in and advance to non-consolidated affiliate	`DueFromAffiliateNoncurrent`	$110.00K	USD	Point-in-time
Fixed Assets acquired net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$103.33K	USD	Point-in-time
Fixed Assets acquired net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Intangible assets net of accumulated amortization	`FiniteLivedIntangibleAssetsNet`	$118.34K	USD	Point-in-time
Total Long Term Assets	`AssetsNoncurrent`	$331.68K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total Long Term Assets	`AssetsNoncurrent`	$110.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.70M	shares	Point-in-time
Total Assets	`Assets`	$794.52K	USD	Point-in-time
Total Assets	`Assets`	$423.10K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	66.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.70M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	66.97M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$733.74K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.32M	USD	Point-in-time
Loans from non-affiliated parties	`DueToRelatedPartiesCurrent`	$791.00K	USD	Point-in-time
Loans from shareholders	`LoansFromShareholders`	$336.92K	USD	Point-in-time
Loans from shareholders	`LoansFromShareholders`	$1.11M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.07M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.22M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.22M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.07M	USD	Point-in-time
Series A preferred stock, $0.001 par value, 2,000,000 authorized, 110,520 and 156,837 issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	`PreferredStockValue`	$110.00	USD	Point-in-time
Series A preferred stock, $0.001 par value, 2,000,000 authorized, 110,520 and 156,837 issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	`PreferredStockValue`	$110.00	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 66,965,933 and 9,701,269 issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	`CommonStockValue`	$66.97K	USD	Point-in-time
Common stock, $0.001 par value, 200,000,000 shares authorized, 66,965,933 and 9,701,269 issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	`CommonStockValue`	$66.97K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.55M	USD	Point-in-time
Stockholders' Equity (Deficit) Attributable to the Company:	`StockholdersEquity`	$-1.93M	USD	Point-in-time
Stockholders' Equity (Deficit) Attributable to the Company:	`StockholdersEquity`	$-647.56K	USD	Point-in-time
Non controlling Interest	`MinorityInterest`	-	USD	Point-in-time
Non controlling Interest	`MinorityInterest`	$-494.60K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-851.91K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.43M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.19M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.45M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-647.56K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-562.60K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$794.52K	USD	Point-in-time
Total Liabilities and Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$423.10K	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	1 Quarter
Revenue	`Revenues`	-	USD	2 Qtrs
Revenue	`Revenues`	-	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$640.74K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$302.11K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$932.35K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$857.20K	USD	1 Quarter
General and administrative-related party	`GeneralAndAdministrativerelatedParty`	$258.88K	USD	1 Quarter
General and administrative-related party	`GeneralAndAdministrativerelatedParty`	$90.00K	USD	2 Qtrs
General and administrative-related party	`GeneralAndAdministrativerelatedParty`	$333.55K	USD	2 Qtrs
General and administrative-related party	`GeneralAndAdministrativerelatedParty`	$45.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$111.79K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$196.73K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$978.65K	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$593.23K	USD	1 Quarter
Research and development related party	`ResearchAndDevelopmentRelatedParty`	$286.00K	USD	2 Qtrs
Research and development related party	`ResearchAndDevelopmentRelatedParty`	$36.00K	USD	2 Qtrs
Research and development related party	`ResearchAndDevelopmentRelatedParty`	$268.00K	USD	1 Quarter
Research and development related party	`ResearchAndDevelopmentRelatedParty`	$18.00K	USD	1 Quarter
Depreciation & Amortization	`DepreciationAndAmortization`	$19.44K	USD	2 Qtrs
Depreciation & Amortization	`DepreciationAndAmortization`	$9.72K	USD	1 Quarter
Depreciation & Amortization	`DepreciationAndAmortization`	$35.75K	USD	2 Qtrs
Depreciation & Amortization	`DepreciationAndAmortization`	$21.45K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$979.80K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.78M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.77M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.51M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.51M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-979.80K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.78M	USD	2 Qtrs
Loss from Operations	`OperatingIncomeLoss`	$-1.77M	USD	2 Qtrs
Interest expense	`InterestExpense`	$328.54K	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$367.14K	USD	2 Qtrs
Change in fair value of derivative liabilities	`GainLossOnSaleOfDerivatives`	$-2.93M	USD	2 Qtrs
Change in fair value of derivative liabilities	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnSaleOfDerivatives`	$-2.94M	USD	1 Quarter
Change in fair value of derivative liabilities	`GainLossOnSaleOfDerivatives`	-	USD	2 Qtrs
Total Other Expenses	`NonoperatingIncomeExpense`	-	USD	2 Qtrs
Total Other Expenses	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Total Other Expenses	`NonoperatingIncomeExpense`	$-3.30M	USD	2 Qtrs
Total Other Expenses	`NonoperatingIncomeExpense`	$-3.27M	USD	1 Quarter
Loss before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-979.80K	USD	1 Quarter
Loss before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.07M	USD	2 Qtrs
Loss before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.78M	USD	1 Quarter
Loss before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.78M	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net Loss	`ProfitLoss`	$-979.80K	USD	1 Quarter
Net Loss	`ProfitLoss`	$-4.78M	USD	1 Quarter
Net Loss	`ProfitLoss`	$-1.78M	USD	2 Qtrs
Net Loss	`ProfitLoss`	$-5.07M	USD	2 Qtrs
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-214.92K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-362.70K	USD	2 Qtrs
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.21K	USD	1 Quarter
Net loss attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.21K	USD	2 Qtrs
Net Loss attributable to Controlling Interest	`NetIncomeLoss`	$-5.07M	USD	2 Qtrs
Net Loss attributable to Controlling Interest	`NetIncomeLoss`	$-764.88K	USD	1 Quarter
Net Loss attributable to Controlling Interest	`NetIncomeLoss`	$-1.42M	USD	2 Qtrs
Net Loss attributable to Controlling Interest	`NetIncomeLoss`	$-4.77M	USD	1 Quarter
Basic and diluted	`BasicAndDiluted`	$-0.33	USD	2 Qtrs
Basic and diluted	`BasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`BasicAndDiluted`	$-0.23	USD	1 Quarter
Basic and diluted	`BasicAndDiluted`	$-0.03	USD	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	15.25M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	66.97M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	20.74M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	66.97M	shares	2 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAllocatedToGeneralPartners`	$-5.07M	USD	2 Qtrs
Net loss	`NetIncomeLossAllocatedToGeneralPartners`	$-1.78M	USD	2 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$19.09K	USD	2 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$19.44K	USD	2 Qtrs
Depreciation expense	`DepreciationDepletionAndAmortization`	$16.67K	USD	2 Qtrs
Amortization of discount on convertible debenture	`AmortizationOfDebtDiscountPremium`	$351.21K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.03M	USD	2 Qtrs
Non-cash interest expense	`OtherNoncashIncomeExpense`	$-15.87K	USD	2 Qtrs
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$-2.93M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-47.27K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$147.58K	USD	2 Qtrs
Prepaid commissions	`IncreaseDecreaseInPrepaidCommissions`	$382.59K	USD	2 Qtrs
Other receivable	`IncreaseDecreaseInOtherReceivables`	$-9.78K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$168.03K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$567.65K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.50M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-699.22K	USD	2 Qtrs
Cash paid for purchase of Varian, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$437.06K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-437.06K	USD	2 Qtrs
Proceeds of loans from shareholders	`ProceedsOfLoansFromShareholders`	$774.36K	USD	2 Qtrs
Proceeds of loans from shareholders	`ProceedsOfLoansFromShareholders`	$118.08K	USD	2 Qtrs
Proceeds from convertible debenture	`ProceedsFromConvertibleDebt`	$50.00K	USD	2 Qtrs
Settlement of loan from shareholder	`SettlementOfLoanFromShareholder`	$50.54K	USD	2 Qtrs
Loans from non-affiliated parties	`ProceedsFromRelatedPartyDebt`	$791.00K	USD	2 Qtrs
Capital contributions	`ProceedsFromContributionsFromParent`	-	USD	1 Quarter
Capital contributions	`ProceedsFromContributionsFromParent`	-	USD	2 Qtrs
Capital contributions	`ProceedsFromContributionsFromParent`	$4.56K	USD	2 Qtrs
Capital contributions	`ProceedsFromContributionsFromParent`	-	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.79M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.91M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.57M	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$778.33K	USD	2 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$62.09K	USD	2 Qtrs
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$69.19K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$907.32K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.00K	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.11K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$69.19K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$907.32K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.00K	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.11K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$61.00	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Acquired noncontrolling interest in business acquisition	`AcquiredNoncontrollingInterestInBusinessAcquisition`	-	USD	2 Qtrs
Acquired noncontrolling interest in business acquisition	`AcquiredNoncontrollingInterestInBusinessAcquisition`	$523.27K	USD	2 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance at March 31, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-851.91K	USD	Point-in-time
Balance at March 31, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.43M	USD	Point-in-time
Balance at March 31, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.19M	USD	Point-in-time
Balance at March 31, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.45M	USD	Point-in-time
Balance at March 31, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-647.56K	USD	Point-in-time
Balance at March 31, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-562.60K	USD	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.82M	USD	1 Quarter
Issuance of Series C Preferred for acquisition of Varian	`IssuanceOfSeriesCPreferredForAcquisitionOfVarian`	$-9.67K	USD	1 Quarter
Non controlling interest associated with acquisition of Varian	`NonControllingInterestAssociatedWithAcquisitionOfVarian`	$9.68K	USD	1 Quarter
Conversion of Series A Preferred into common stock	`ConversionOfSeriesPreferredIntoCommonStock`	-	USD	1 Quarter
Conversion of Debentures into common stock	`ConversionOfDebenturesIntoCommonStock`	$4.00M	USD	1 Quarter
Capital contributions	`AdjustmentsToAdditionalPaidInCapitalOther`	$4.56K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-4.78M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-979.80K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-293.88K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-801.35K	USD	1 Quarter
Balance at June 30, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-851.91K	USD	Point-in-time
Balance at June 30, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-2.43M	USD	Point-in-time
Balance at June 30, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.19M	USD	Point-in-time
Balance at June 30, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.45M	USD	Point-in-time
Balance at June 30, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-647.56K	USD	Point-in-time
Balance at June 30, 2022	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-562.60K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.