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Healthier Choices Management Corp (OTC: HCMC) Announced a Gross Profits Gain of 7% in Q2 F21

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Healthier Choices Management Corp (OTC: HCMC) is a holding corporation that concentrates on providing customers with healthy daily options for nutrition and several other lifestyle solutions, which recently reported its second-quarter financial results for 2021.  Through its HCMC Intellectual Property Holdings subsidiary, the company manages its vast intellectual property portfolio, which it also intends on expanding. Healthier Choices Management currently runs six vape shops in the United States Southeast region.

Key Financial Highlights

Gross profits from business operations increased by roughly $90,000 in Q2 F21, which amounted to about $1.5 million. This represented a 7% increase from the $1.4 million they recorded in the same quarter of the previous fiscal year. They recorded a $3 million gross profits, which $127,000 decrease from the $3.1 million they recorded in the same quarter of the previous fiscal year. The net losses from business operations were roughly $685,000, a 14% improvement from the $795,000 they recorded in the same quarter of the previous year. Net loss of $1.2 million from continuing operations is what they reported this particular quarter. This was an improvement of 17%, or approximately $242,000, from what they reported in the same period. Adjusted EBITDA also improved by roughly $136,000.

Senior Management

Healthier Choices Management’s Chief Executive Officer and Chairman, Jeffery Holman, said they were both proud and delighted with how the company performed in Q2 F21. He said that their team ensured gross profit growth and noteworthy improvements in their adjusted EBITDA results. Mr. Holman continued to say that the strategic vision for the company remains crystal clear. In addition, with the strong cash position they currently hold, they’re over the moon at the chance of taking advantage of some of the proceeds from the company’s capital raise.

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