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Healthier Choices Management Corp. provides e-liquids, vaporizers, and related products. The company operates through two segments, natural and organic retail stores, and vapor products. Its vaporizers are battery-powered products that enable users to inhale nicotine vapor without smoke, tar, ash, or carbon monoxide. The company sells its e-liquid under the Vape Store brand name and offers its products through nine retail vape stores in the Southeast region of the United States. In addition, it offers a variety of products including fresh produce, bulk foods, vitamins, supplements, packaged groceries, meat, seafood, deli items, baked goods, dairy products, health and beauty products, and natural household items through Ada's Natural Market, a natural and organic grocery store. The company also provides prepared foods, beverages, body care products, and household and general merchandise products.
Healthier Choices Management Corp. (HCMC) released a year-end letter from CEO Jeffrey Holman to shareholders, addressing the company's future goals for 2022. Holman emphasized the need to enhance shareholder value and mentioned plans to grow revenue through both physical and online expansion, increase profitability, and expand intellectual property. The letter also highlighted the anticipated federal appellate court review of HCMC's case against Phillip Morris, and discussions on modifying the capital share structure favorably for shareholders.
Healthier Choices Management Corp. (HCMC) has filed an appeal against the dismissal of its patent infringement case against Philip Morris USA and Philip Morris Products. HCMC argues that the Georgia Court made legal errors, including denying their motion to amend. CEO Jeff Holman reaffirmed HCMC's commitment to the case while highlighting ongoing growth initiatives, particularly the rebranding of EIR Hydration.
The company operates several retail outlets and manages an expanding intellectual property portfolio.
Healthier Choices Management Corp. (HCMC) announced the dismissal of its patent infringement lawsuit against Phillip Morris after the Court denied its Motion for Leave to Amend the Complaint. HCMC expressed disappointment in the ruling and is considering an appeal with its legal counsel, Cozen O'Connor. The company continues to focus on its operations, which include retail vape stores and the distribution of health-related products. As part of its strategy, it aims to enhance its intellectual property portfolio and provide healthier lifestyle options.
Healthier Choices Management Corp. (HCMC) announced its entry into the Health & Wellness sector with the acquisition of EIR Hydration, an IV therapy center in Roslyn Heights, NY. This center will be rebranded as the first "Healthier Choices Wellness Center." EIR Hydration offers customized IV therapy plans designed for various client needs. Founder Elaine Riano, now HCMC's Executive VP of Health & Wellness, will lead the expansion and development of new offerings. CEO Jeff Holman emphasized the acquisition as a strategic step towards further corporate growth and market presence.
Healthier Choices Management Corp. (HCMC) reported its financial results for Q3 2021, showing a 19% improvement in net loss from continuing operations, decreasing from $1.30 million to $1.05 million. Gross profit increased slightly by $14,000 to reach $1.38 million. For the nine-month period, gross profit dipped to $4.33 million from $4.44 million. The company emphasized solid margin performance amid supply chain challenges and is exploring strategic growth opportunities while being disciplined in cost management.
Healthier Choices Management Corp. (OTC Pink: HCMC) reported financial results for Q2 2021, showing a 7% increase in gross profit to $1.5 million, up from $1.4 million in Q2 2020. Year-to-date gross profits decreased by $127,000 to $3.0 million. The net loss for Q2 improved by 14% to $685,000, and adjusted EBITDA increased by 20% to $136,000. The CEO expressed confidence in the company's strategic growth initiatives following a capital raise, aiming for sustainable growth.
Healthier Choices Management Corp. (OTC Pink: HCMC) faced a setback as the District Court for the Northern District of Georgia dismissed its patent infringement lawsuit against Philip Morris USA, Inc. HCMC has 14 days to request permission to file an amended complaint. This ruling impacts HCMC's legal strategy and potentially its stock valuation as it weighs further actions in the ongoing patent dispute.
Healthier Choices Management Corp. (OTC Pink: HCMC) announced that it will receive U.S. Patent Number 11,064,732 on July 20, 2021. This patent covers a novel vaporizer cartridge technology that encapsulates internal components in a non-reactive material, safeguarding against toxic reactions between vaping substances and metal coils. CEO Jeff Holman asserts this patent aims to enhance vaping safety by preventing heavy metal leaching. The company is considering the production or distribution of these innovative cartridges, further expanding its intellectual property portfolio.
Healthier Choices Management Corp. (HCMC) has entered an Exclusive Authorized Filling Agreement for its Q-Cup® technology in Canada with 6PAK Solutions Inc., a sister company of ATG Pharma Inc. This partnership aims to provide access to Q-Cups® for existing and new licensed producer clients in the cannabis industry. HCMC's CEO, Jeff Holman, highlighted expectations of significant growth in Canadian cannabis sales, projected to reach $4 billion this year and increase to $5 billion next year. This arrangement strategically positions HCMC to capture early market share in Canada.
Healthier Choices Management Corp. (HCMC) announced a partnership with The Health Center in Colorado to launch their patented quartz Q-Cups® filled with NUHI brand concentrates. The soft launch is planned for the coming weeks, with a full-scale launch on July 10, 2021, which will include wholesale distribution to licensed dispensaries. CEO Jeff Holman expressed excitement over entering the Colorado market, emphasizing the convenience and eco-friendliness of their Q-Cup® technology. This partnership aims to meet consumer demand for better dosing options.
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