Document and Entity Information
Document and Entity Information | 3 Months Ended |
Mar. 31, 2020shares | |
Details | |
Registrant CIK | 0000797564 |
Fiscal Year End | --12-31 |
Registrant Name | HST Global, Inc. |
SEC Form | 10-Q |
Period End date | Mar. 31, 2020 |
Tax Identification Number (TIN) | 73-1215433 |
Number of common stock shares outstanding | 4,247,993 |
Filer Category | Non-accelerated Filer |
Current with reporting | Yes |
Interactive Data Current | Yes |
Shell Company | false |
Small Business | true |
Emerging Growth Company | false |
Entity File Number | 000-15303 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 150 Research Drive |
Entity Address, City or Town | Hampton |
Entity Address, State or Province | VA |
Entity Address, Postal Zip Code | 23666 |
City Area Code | 757 |
Local Phone Number | 766-6100 |
Amendment Flag | false |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q1 |
Document Quarterly Report | true |
Document Transition Report | false |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 0 | $ 1,955 |
Prepaid Expenses | 0 | 0 |
Total Current Assets | 0 | 1,955 |
Total Assets | 0 | 1,955 |
Current Liabilities | ||
Bank overdraft payable | 2,113 | 0 |
Accounts payable and accrued expenses | 1,571 | 3,910 |
Accounts payable and accrued expenses - related parties | 1,490 | 1,475 |
Accrued officer compensation | 30,000 | 0 |
Notes payable - related party | 3,090 | 0 |
Total Current Liabilities | 38,264 | 5,385 |
Total Liabilities | 38,264 | 5,385 |
Stockholders' Deficit | ||
Preferred stock; 10,000,000 shares authorized, respectively, at $0.001 par value, - 0- shares issued and outstanding at March 31, 2020 and December 31, 2019 respectively | 0 | 0 |
Common stock; 200,000,000 shares authorized, respectively, at $0.001 par value, 4,247,993 and 4,247,993 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively | 4,248 | 4,248 |
Additional paid-in capital | 5,358,236 | 5,358,236 |
Accumulated deficit | (5,400,748) | (5,365,914) |
Total Stockholders' Deficit | (38,264) | (3,430) |
Total Liabilities and Stockholders' Deficit | $ 0 | $ 1,955 |
Condensed Balance Sheets - Pare
Condensed Balance Sheets - Parenthetical - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Details | ||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Outstanding | 4,247,993 | 4,247,993 |
Common Stock, Shares, Issued | 4,247,993 | 4,247,993 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Details | ||
REVENUES | $ 0 | $ 0 |
OPERATING EXPENSES | ||
Consulting | 30,000 | 30,000 |
General and administrative | 4,818 | 6,308 |
Total Operating Expenses | 34,818 | 36,308 |
Loss from Operations | (34,818) | (36,308) |
OTHER INCOME (EXPENSE) | ||
Interest expense | 15 | 8,937 |
Total Other Income (Expense) | (15) | (8,937) |
Loss Before Income Taxes | (34,833) | (45,245) |
Provision for Income Taxes | 0 | 0 |
NET LOSS | $ (34,833) | $ (45,245) |
Basic and Diluted Loss Per Share | $ (0.01) | $ 0 |
Basic and Diluted Weighted Average Number of Common Shares Outstanding | 3,268,814 | 2,447,991 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Deficit - USD ($) | Common Stock | Additional Paid-in Capital | Retained Earnings | Parent |
Balance, December 31, 2018 | $ 2,448 | $ 2,419,096 | $ (5,792,486) | $ (3,370,942) |
Balance, March 31, 2019 | 2,448 | 2,419,096 | (5,792,486) | (3,370,942) |
Balance, December 31, 2018 | 2,448 | 2,419,096 | (5,837,731) | (3,416,187) |
Net loss | 0 | 0 | (45,245) | (45,245) |
Balance, March 31, 2019 | 2,448 | 2,419,096 | (5,837,731) | (3,416,187) |
Balance, December 31, 2019 at Dec. 31, 2018 | 2,448 | 2,419,096 | (5,792,486) | (3,370,942) |
Balance, March 31, 2020 at Mar. 31, 2019 | 2,448 | 2,419,096 | (5,837,731) | (3,416,187) |
Balance, December 31, 2018 | 2,448 | 2,419,096 | (5,837,731) | (3,416,187) |
Balance, March 31, 2019 | 2,448 | 2,419,096 | (5,837,731) | (3,416,187) |
Balance, December 31, 2018 | 4,248 | 5,358,236 | (5,365,914) | (3,430) |
Balance, March 31, 2019 | 4,248 | 5,358,236 | (5,365,914) | (3,430) |
Balance, December 31, 2018 | 4,248 | 5,358,236 | (5,400,747) | (38,263) |
Net loss | 0 | 0 | (34,833) | (34,833) |
Balance, March 31, 2019 | 4,248 | 5,358,236 | (5,400,747) | (38,263) |
Balance, December 31, 2019 at Dec. 31, 2019 | 4,248 | 5,358,236 | (5,365,914) | (3,430) |
Balance, March 31, 2020 at Mar. 31, 2020 | 4,248 | 5,358,236 | (5,400,747) | (38,263) |
Balance, December 31, 2018 | 4,248 | 5,358,236 | (5,400,747) | (38,263) |
Balance, March 31, 2019 | $ 4,248 | $ 5,358,236 | $ (5,400,747) | $ (38,263) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating Activities | ||
Net loss | $ (34,833) | $ (45,245) |
Changes in operating assets and liabilities: | ||
Prepaid Expense | 0 | 0 |
Bank overdraft payable | 2,113 | 126 |
Notes payable related party | 3,090 | 0 |
Accounts payable and accrued expenses | (2,340) | 6,182 |
Accrued officer compensation | 30,000 | 30,000 |
Accrued related party interest | 15 | 8,937 |
Net Cash Used in Operating Activities | (1,955) | 0 |
Investing Activities | ||
Net Cash Used in Investing Activities | 0 | 0 |
Financing Activities | ||
Proceeds from sale of common stock | 0 | 0 |
Proceeds from notes payable - related party | 0 | 0 |
Net Cash Provided by Financing Activities | 0 | 0 |
Net Change in Cash and Cash Equivalents | (1,955) | 0 |
Gain on extinguishment of debt | 0 | 0 |
Cash and Cash Equivalents at Beginning of Period | 1,955 | 0 |
Cash and Cash Equivalents at End of Period | 0 | 0 |
Cash paid for interest | 0 | 0 |
Cash paid for taxes | $ 0 | $ 0 |
NOTE 1 - ORGANIZATION AND PRINC
NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES | 3 Months Ended |
Mar. 31, 2020 | |
Notes | |
NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES | NOTE 1 – ORGANIZATION AND PRINCIPAL ACTIVITIES HST Global, Inc. (the "Company") was incorporated on April 11, 1984 under the laws of the State of Delaware under the name of NT Holding Corporation. The Company has made several acquisitions and disposals of various business entities and activities. On May 9, 2008, the Company entered into a Merger and share exchange agreement with Health Source Technologies, Inc. This business acquisition has been accounted for as a reverse merger or recapitalization of Health Source Technologies, Inc. At the time of the merger NT Holding Corporation had disposed of its assets and liabilities and had minimal operations. Immediately after the acquisition the Company changed its name to HST Global, Inc. Health Source Technologies, Inc. was incorporated under the laws of the State of Nevada on August 6, 2007. The Company is currently headquartered in Hampton, Virginia. The accompanying interim financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, therefore, do not include all information and footnotes necessary for a complete presentation of the Company’s financial position, results of operations, cash flows, and stockholders’ equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. The unaudited quarterly financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of the Company as of and for the fiscal year ended December 31, 2019. The results of operations for the period ended March 31, 2020, are not necessarily indicative of the results for a full-year period. HST Global, Inc. is an integrated Health and Wellness Biotechnology company that intends to developing and/or acquiring a network of Wellness Centers worldwide with the primary focus on homeopathic and alternative treatments of late stage cancer and other life threatening diseases. In addition, the Company intends to acquire innovative products for the treatment of life threatening diseases. The Company primarily focuses on homeopathic and alternative product candidates that are undergoing or have already completed significant clinical testing for the treatment of late stage cancer and/or life threatening diseases. |
NOTE 2 - SIGNIFICANT ACCOUNTING
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2020 | |
Notes | |
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying financial statements and related notes include the activity of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-K and 10-Q. Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We maintain cash balances in non-interest-bearing accounts, which do not currently exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. Basic and Diluted Income (Loss) Per Share The computations of basic loss per share of common stock are based on the weighted average number of shares outstanding at the date of the financial statements. The Company computes net income (loss) per share in accordance with ASC 260. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation”, Fair Value of Financial Instruments The Company adopted ASC 820 which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under this standard certain assets and liabilities must be measured at fair value, and disclosures are required for items measured at fair value. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued since the last audit of our consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
NOTE 3 - GOING CONCERN
NOTE 3 - GOING CONCERN | 3 Months Ended |
Mar. 31, 2020 | |
Notes | |
NOTE 3 - GOING CONCERN | NOTE 3 – GOING CONCERN The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern for a period of one year from the issuance of these financial statements. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. Management’s plan to support the Company in its operations and to maintain its business strategy is to raise funds through public offerings and to rely on officers and directors to perform essential functions with minimal compensation. If the Company does not raise all of the money it needs from public offerings, it will have to find alternative sources, such as a second public offering, a private placement of securities, or loans from its officers, directors or others. If the Company requires additional cash and is unable to raise it, it will either have to suspend operations until the cash is raised, or cease business entirely. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
NOTE 4 - RELATED PARTY TRANSACT
NOTE 4 - RELATED PARTY TRANSACTIONS | 3 Months Ended |
Mar. 31, 2020 | |
Notes | |
NOTE 4 - RELATED PARTY TRANSACTIONS | NOTE 4 – RELATED PARTY TRANSACTIONS Notes Payable – Related Parties During the quarter ended March 31, 2020, the Company received $3,090 in additional cash loans from Ronald R. Howell. Executive Offices The Company’s executive offices are located at 150 Research Dr., Hampton VA. These offices are leased by The Health Network, Inc. (“HTN”), of which Ron Howell is President. THN allows the Company to use the office space without a formal sublease or rental agreement. Consulting Agreements The Company has entered into a consulting agreement with Mr. Howell, President of the Company, whereby the Company agreed to pay Mr. Howell $10,000 per month for consulting services through December 31, 2010. The Company had agreed to continue to Orbital Group, Inc. (the “ |
NOTE 5 - COMMON STOCK
NOTE 5 - COMMON STOCK | 3 Months Ended |
Mar. 31, 2020 | |
Notes | |
NOTE 5 - COMMON STOCK | NOTE 5 – COMMON STOCK None |
NOTE 6 - SUBSEQUENT EVENTS
NOTE 6 - SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2020 | |
Notes | |
NOTE 6 - SUBSEQUENT EVENTS | NOTE 6 – SUBSEQUENT EVENTS In accordance with ASC 855, Company management reviewed all material events through the date of this report and determined that there are no other material subsequent events to report. |
NOTE 2 - SIGNIFICANT ACCOUNTI_2
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Basis of Presentation | Basis of Presentation The accompanying financial statements and related notes include the activity of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) to Form 10-K and 10-Q. |
NOTE 2 - SIGNIFICANT ACCOUNTI_3
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Accounting Method (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Accounting Method | Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a December 31 year-end. |
NOTE 2 - SIGNIFICANT ACCOUNTI_4
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
NOTE 2 - SIGNIFICANT ACCOUNTI_5
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Cash and Cash Equivalents | Cash and Cash Equivalents We maintain cash balances in non-interest-bearing accounts, which do not currently exceed federally insured limits. For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents. |
NOTE 2 - SIGNIFICANT ACCOUNTI_6
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Basic and Diluted Income (Loss) Per Share (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Basic and Diluted Income (Loss) Per Share | Basic and Diluted Income (Loss) Per Share The computations of basic loss per share of common stock are based on the weighted average number of shares outstanding at the date of the financial statements. The Company computes net income (loss) per share in accordance with ASC 260. ASC 260 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing Diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. |
NOTE 2 - SIGNIFICANT ACCOUNTI_7
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Compensation (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Stock-Based Compensation | Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation”, |
NOTE 2 - SIGNIFICANT ACCOUNTI_8
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company adopted ASC 820 which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The standard outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under this standard certain assets and liabilities must be measured at fair value, and disclosures are required for items measured at fair value. The Company currently does not have non-financial assets or non-financial liabilities that are required to be measured at fair value on a recurring basis. |
NOTE 2 - SIGNIFICANT ACCOUNTI_9
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Policies | |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Management has considered all recent accounting pronouncements issued since the last audit of our consolidated financial statements. The Company’s management believes that these recent pronouncements will not have a material effect on the Company’s financial statements. |
NOTE 4 - RELATED PARTY TRANSA_2
NOTE 4 - RELATED PARTY TRANSACTIONS (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Notes payable related party | $ 3,090 | $ 0 | |
Accrued officer compensation | $ 30,000 | $ 0 | |
Notes Payable - Related Parties | |||
Related Party Transaction, Description of Transaction | During the quarter ended March 31, 2020, the Company received $3,090 in additional cash loans from Ronald R. Howell. | ||
Notes payable related party | $ 3,090 | ||
Executive Offices | |||
Related Party Transaction, Description of Transaction | THN allows the Company to use the office space without a formal sublease or rental agreement. | ||
Howell Consulting Agreement | |||
Related Party Transaction, Description of Transaction | The Company has entered into a consulting agreement with Mr. Howell, President of the Company, whereby the Company agreed to pay Mr. Howell $10,000 per month for consulting services | ||
Accrued officer compensation | $ 30,000 | $ 0 |