Healthier Choices Management Corp (OTCMKTS:HCMC) Posts A Drop Of 7.9% In Revenues In 2020

Healthier Choices Management Corp (OTCMKTS:HCMC) generated $13.9 million (down 7.9% YoY) in 2020. Its profit declined to $5.8 million (down 10% YoY) in 2020. However, its EBITDA improved to $0.5 million in 2020.

CEO of Healthier Choices, Jeffrey Holman, said the company is pleased to report improved revenues in Q4 2020 despite the impact of the COVID-19 pandemic.

Jeffrey further said its teams worked relentlessly to improve the businesses and post-adjusted EBITDA of $500,000 YoY despite a decline in sales by $1.2 million. Healthier Choices is committed to fulfill its commitments and expand its business lines going forward while enforcing IP rights.

Launches official Twitter page

Healthier Choices unveiled its official Twitter page on March 8, 2021. Jeffrey said the company is excited to receive continued support from its investors and this Twitter page allows them to know about product offerings and the latest updates.

Update on series C convertible PS

Healthier Choices is pleased to update Series C convertible preferred stock as per the filings submitted on August 16, 2018.

The company previously signed a warrant exchange accord with certain investors of Series A warrants. As per the terms of the pact, Healthier Choices agreed to exchange 46.048 million Series A Warrants with 20,722 shares of its Series B stock.

Healthier Choices acquired Series A warrants in that exchange amounting to 92% of the outstanding Series A Warrants. They could have been converted into 460.483 billion common shares if exercised as per the agreed date. However, the company benefited by converting into 207.220 billion common stock through this exchange and achieved savings of 45%.

Raise a capital of $5 million

Healthier Choices raised a capital of $5 million by issuing Series D Preferred Stock to institutional investors in a private placement. Each Series D Preferred stock can be converted into Healthier Choices’ common stock at 150% premium to the previous closing rate ($0.0016) on February 5, 2016.

CEO of Healthier Choices, Jeff Holman, said mobilization of funds from certain institutional investors through a private placement shows confidence in its fundamentals, business prospects, and IP assets.

Healthier Choices focuses on suggesting healthy daily choices to consumers concerning lifestyle alternatives and nutrition. The company also manages nine retail vape stores in the US.