Spin-off - HEALTHY CHOICE WELLNESS CORP.
Form Type: 10-Q
Filing Date: 2025-05-09
Corporate Action: Spin-off
Type: Update
Accession Number: 000164117225009509
Filing Summary: Healthy Choice Wellness Corp. (HCWC) completed a spin-off from Healthier Choices Management Corp. (HCMC) on September 13, 2024, making HCWC an independent publicly traded company. This spin-off included HCMC's grocery business and wellness operations. HCMC distributed HCWC shares to its stockholders based on their HCMC holdings as of September 9, 2024. HCWC is involved in providing organic and health products through multiple subsidiary brands and reported a net loss of $712,410 for the quarter ending March 31, 2025. HCWC has secured commitments for $13.25 million in equity financing post-spin-off, supporting its operations and expansion plans. The quarterly financial statements show total assets of approximately $34 million and liabilities around $32 million, indicating financial activities such as increases in inventory and accounts payable, alongside a substantial drop in cash balances. CEO's updates and discussions about operational strategies and market risks are also included, reflecting ongoing challenges and management strategies for sustainability.
Additional details:
Title Of Each Class: Common Stock, par value $0.001 per share
Trading Symbol: HCWC
Name Of Each Exchange On Which Registered: NYSE American
Number Of Common Shares Outstanding: 12,152,113
Net Losses: (712,410)
Total As Of: 2025-03-31
Total Assets: 34,085,209
Total Liabilities: 31,960,118
Total Stockholders Equity: 2,125,091
Additional Paid In Capital: 3,557,842
Cash And Cash Equivalents: 1,792,418
Accounts Receivable Net: 471,127
Inventories: 7,042,303
Date Of Spin Off: 2024-09-13
Form Type: 10-K
Filing Date: 2025-03-28
Corporate Action: Spin-off
Type: New
Accession Number: 000164117225001000
Filing Summary: Healthy Choice Wellness Corp. (HCWC) successfully completed its spin-off from Healthier Choices Management Corp. (HCMC) on September 13, 2024, transitioning into an independent, publicly traded company. The Board of Directors approved this separation on August 22, 2022. Under the spin-off, HCMC distributed shares on a pro-rata basis to its stockholders, resulting in each stockholder receiving one share of Class A and three shares of Class B common stock for every 208,632 shares of HCMC common stock held by them on the record date of September 9, 2024. The trading of HCWC's stock commenced on the NYSE American under the symbol "HCWC" on September 16, 2024. Furthermore, HCWC secured $13.25 million in equity financing from investors previously involved with HCMC's Series E Preferred Stock. The document outlines HCWC's business model focusing on providing healthier daily choices through its subsidiaries, which include various natural and organic grocery stores.
Additional details:
Address Of Principal Executive Office: 3800 North 28th Way, Unit#1, Hollywood, Florida 33020
Telephone Number: (305) 330-3839
Market Value Of Equity: $24.4 million
Number Of Shares Outstanding: 10,565,749 shares as of March 27, 2025
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