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HST Global, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing no revenues for the three and nine months ended September 30, 2024 and 2023. The company reported a net loss of $13,792 for the quarter ended September 30, 2024, compared to a net loss of $35,730 for the same period in 2023.
Total operating expenses for the quarter ended September 30, 2024 were $13,400, down from $34,368 in the same quarter of the previous year, primarily due to reduced consulting and interest expenses.
The company had a cash balance of $10,406 as of September 30, 2024, compared to $1,526 as of September 30, 2023. The increase in cash is attributed to proceeds from loans or advances from related parties.
HST Global completed a reorganization and stock purchase agreement on April 26, 2024, resulting in a change of control. As part of the transaction, the company issued new shares and settled outstanding debt obligations.
The company acquired trademarks, tradenames, and URLs in August 2024, issuing 1,210,156 shares of common stock in connection with the acquisition.
The filing notes that the company continues to face going concern issues due to a lack of ongoing revenue sufficient to cover its operating costs. Management plans to address these issues through public offerings and other financing methods.
The company announced the appointment of new directors and officers effective April 26, 2024, with Mike Field as President and Acting CFO, and Jason Murphy as CEO, Vice President, and Secretary.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the HST Global Inc quarterly 10-Q report dated November 22, 2024. To report an error, please email earnings@qz.com.