HEALTHY EXTRACTS INC. Our Management's Discussion and Analysis contains not only statements that are
historical facts, but also statements that are forward-looking (within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934). Forward-looking statements are, by their very
nature, uncertain and risky. These risks and uncertainties include
international, national and local general economic and market conditions;
demographic changes; our ability to sustain, manage, or forecast growth; our
ability to successfully make and integrate acquisitions; raw material costs and
availability; new product development and introduction; existing government
regulations and changes in, or the failure to comply with, government
regulations; adverse publicity; competition; the loss of significant customers
or suppliers; fluctuations and difficulty in forecasting operating results;
changes in business strategy or development plans; business disruptions; the
ability to attract and retain qualified personnel; the ability to protect
technology; and other risks that might be detailed from time to time in our
filings with the
Although the forward-looking statements in this Quarterly Statement reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by them. Consequently, and because forward-looking statements are inherently subject to risks and uncertainties, the actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. You are urged to carefully review and consider the various disclosures made by us in this report and in our other reports as we attempt to advise interested parties of the risks and factors that may affect our business, financial condition, and results of operations and prospects.
The following discussion and analysis of financial condition and results of
operations of the Company is based upon, and should be read in conjunction with,
its unaudited financial statements and related notes elsewhere in this Form
10-Q, which have been prepared in accordance with accounting principles
generally accepted in
Summary Overview
We were incorporated on
On
On
OverviewBergaMet NA, LLC
On
Ultimate Brain Nutrients, LLC
On
Going Concern
As a result of our financial condition, we have received a report from our
independent registered public accounting firm for our financial statements for
the years ended
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(
Results of Operations for the Three and Nine Months Ended
Introduction
We had revenues of
Our operating expenses were
We had a Net Loss of
Revenues and Net Operating Loss
Our revenue, operating expenses, net operating loss, and net gain (loss) for the
three and nine months ended
Three Months Three Months Nine Months Nine Months
Ended Ended Ended Ended
September 30, September 30, September 30, September 30,
2022 2021 2022 2021
Revenue $ 573,967 $ 447,986 1,668,105 903,142
Cost of Revenue 68,551 72,250 402,788 147,456
Gross Profit 431,102 307,625 1,030,062 646,737
Operating expenses:
General and 1,744,326 1,873,858
administrative 485,568 692,940
Total operating 1,744,326 1,873,858
expenses 485,568 692,940
Other income (expense)
Interest expenses, net (68,657) (48,598)
of interest income (11,336) (19,242)
Change in fair value on (246,260) (1,287,971)
derivative (104,421) (307,746)
Loss on extinguishment - -
of debt - -
SBA Loan Forgiveness - 39,833 - 39,833
Gain on sale of asset - - 2,643 -
Total other income (312,274) (1,296,736)
(expense) (115,757) (287,155)
Net income (loss) $ (170,223) $ (672,470) (1,026,538) (2,523,857)
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Revenues
We had revenues of
Cost of Revenue
Our cost of revenue for the three and nine months ended
General and Administrative
General and administrative expenses were
Other Income (Expense)
Other income (expense) was
Net Income (Loss)
Net income (loss) was
Our net income (loss) various from period to period primarily because of the change in fair value on derivative.
Liquidity and Capital Resources
Introduction
During the three and nine months ended
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Our cash, current assets, total assets, current liabilities, and total liabilities as ofSeptember 30, 2022 andDecember 31, 2021 , respectively, are as follows: September 30, December 31, Increase/ 2022 2021 (Decrease) Cash$ 73,884 $ 222,098 $ (148,214) Total Current Assets 2,041,081 2,313,404 (272,323) Total Assets 2,779,161 3,029,579 (250,418)
Total Current and Total Liabilities 944,248 558,841 385,406
Our total current assets and total assets decreased during the nine months ended
In order to repay our obligations in full or in part when due, we will be required to raise significant capital from other sources. There is no assurance, however, that we will be successful in these efforts.
Cash Requirements
Our cash on hand as of
Sources and Uses of Cash Operating Activities
We had net cash used in operating activities of
Investing Activities
We had
Financing Activities
Our net cash provided by financing activities for the nine months ended
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