Cover
Cover - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | May 31, 2022 | Mar. 31, 2021 | |
Cover [Abstract] | |||
Entity Registrant Name | HEALTHCARE SOLUTIONS MANAGEMENT GROUP, INC. | ||
Entity Central Index Key | 0001418115 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Entity Voluntary Filers | No | ||
Current Fiscal Year End Date | --09-30 | ||
Entity Well Known Seasoned Issuer | No | ||
Entity Small Business | true | ||
Entity Shell Company | false | ||
Entity Emerging Growth Company | false | ||
Entity Current Reporting Status | No | ||
Document Period End Date | Sep. 30, 2021 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Entity Common Stock Shares Outstanding | 92,214,638 | ||
Entity Public Float | $ 1,578,929 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 333-147367 | ||
Entity Incorporation State Country Code | DE | ||
Entity Tax Identification Number | 38-3767357 | ||
Entity Interactive Data Current | No | ||
Entity Address Address Line 1 | 3 School St | ||
Entity Address Address Line 2 | Suite 303 | ||
Entity Address City Or Town | Glen Cove | ||
Entity Address State Or Province | NY | ||
Entity Address Postal Zip Code | 11542 | ||
City Area Code | 866 | ||
Local Phone Number | 668-2188 | ||
Auditor Name | BF Borgers CPA PC | ||
Auditor Location | Lakewood, CO | ||
Auditor Firm Id | 5041 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 |
ASSETS | ||
Cash | $ 659,194 | $ 841,349 |
Accounts receivable/other receivable | 825,712 | 74,622 |
Prepaid expenses | 0 | 60,666 |
Investments | 89,823,346 | 83,087,469 |
Total current assets | 91,308,252 | 84,064,105 |
Equipment | 1,821,081 | 587,083 |
Total Assets | 93,129,332 | 84,651,188 |
Current liabilities | ||
Accounts payable | 22,200 | 109,313 |
PPP loan | 210,500 | 210,500 |
Notes payable | 456,000 | 465,323 |
Receiver-certificate | 0 | 65,000 |
Interest payable | 0 | 33,093 |
Notes payable related party | 13,786,051 | 13,447,615 |
Total current liabilities | 14,474,751 | 14,330,844 |
Total liabilities | 14,474,751 | 14,330,844 |
Stockholders' Equity | ||
Common stock, par value $0.001, 1,400,000,000 shares authorized 11,072,440 and 1,107,244shares issued and outstanding as of September 30, 2021, and September 30, 2020, respectively | 11,072 | 1,107 |
Additional paid in capital | 102,216,342 | 97,839,775 |
Accumulated other comprehensive income | 5,598,328 | (1,137,548) |
Retained earnings (deficit) | (29,171,161) | (26,382,990) |
Total Stockholders' (Deficit) | 78,654,581 | 70,320,344 |
Total Liabilities and Stockholders' (Equity) | $ 93,129,332 | $ 84,651,188 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2021 | Sep. 30, 2020 |
CONSOLIDATED BALANCE SHEETS | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock,shares authorised | 1,400,000,000 | 1,400,000,000 |
Common stock, shares issued | 11,072,440 | 1,107,244 |
Common stock, shares outstanding | 11,072,440 | 1,107,244 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue | ||
Sales | $ 8,566,284 | $ 3,524,334 |
Sales related party | 682,500 | 0 |
Total revenue | 9,248,784 | 3,524,334 |
Cost of goods sold | 166,734 | 0 |
Cost of goods sold -related party | 2,297,455 | 2,595,860 |
Gross profit | 6,784,595 | 928,474 |
Operating Expenses: | ||
Administrative expenses | 3,491,623 | 1,648,341 |
Contractors expenses | 203,722 | 573,706 |
Contractors expenses related party | 5,743,637 | 1,730,574 |
Total operating expenses | 9,438,982 | 3,952,621 |
(Loss) from operations | (2,654,387) | (3,024,147) |
Other income (expense) | ||
Interest income (expense), net | (133,785) | (6,250) |
Income (loss) before provision for income taxes | (2,788,171) | (3,030,397) |
Provision for income taxes | 0 | 0 |
Net (Loss) | $ (2,788,171) | $ (3,030,397) |
Basic and diluted earnings(loss) per common share | $ (0.49) | $ (27.37) |
Weighted average number of shares outstanding | 5,693,964 | 110,724 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) | Total | Common Stock | Additional Paid-In Capital | Accumulated Other Comp Inc | Retained Earnings |
Balance, shares at Sep. 30, 2019 | 110,724 | ||||
Balance, amount at Sep. 30, 2019 | $ 70,256,548 | $ 111 | $ 94,746,578 | $ (1,137,548) | $ (23,352,593) |
Issuance of common stock to related party, shares | 996,520 | ||||
Issuance of common stock to related party, amount | 3,094,194 | $ 997 | 3,093,197 | ||
Net loss | (3,030,397) | (3,030,397) | |||
Discharge of debt related party | 0 | ||||
Gain on extinguishment of liabilities | 0 | ||||
Balance, shares at Sep. 30, 2020 | 1,107,244 | ||||
Balance, amount at Sep. 30, 2020 | 70,320,344 | $ 1,107 | 97,839,775 | (1,137,548) | (26,382,990) |
Net loss | (2,788,171) | (2,788,171) | |||
Discharge of debt related party | 4,388,165 | 4,388,165 | |||
Issuance of shares pursuant to reverse merger and impact of reverse merger, shares | 9,965,196 | ||||
Issuance of shares pursuant to reverse merger and impact of reverse merger, amount | (89,697) | $ 9,965 | (99,662) | ||
Gain on extinguishment of liabilities | 88,064 | 88,064 | |||
Accumulated other comprehensive income | 6,735,876 | 6,735,876 | |||
Balance, shares at Sep. 30, 2021 | 11,072,440 | ||||
Balance, amount at Sep. 30, 2021 | $ 78,654,581 | $ 11,072 | $ 102,216,342 | $ 5,598,328 | $ (29,171,161) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash Flows From Operating Activities: | ||
Net Loss | $ (2,788,171) | $ (3,030,397) |
Adjustments to reconcile net income to net cash used in operating activities | ||
Gain on extinguishment of liabilities | 88,064 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (751,090) | (74,622) |
Prepaid expenses | 60,666 | (60,666) |
Accounts payable | (87,113) | 10,483 |
Interest payable | (33,093) | 22,711 |
Receiver certificate | (65,000) | 0 |
Net cash (used for) operating activities | (3,575,737) | (3,132,491) |
Cash Flows From Investing Activities: | ||
Issuance of acquisition shares | 89,698 | (32,748) |
Purchase of equipment | (1,233,998) | (587,083) |
Net cash (used for) investing activities | (1,323,696) | (554,335) |
Cash Flows From Financing Activities: | ||
Notes payable | (9,323) | (9,965) |
Notes payable related party | 4,726,601 | 3,918,743 |
Proceeds from PPP loan | 0 | 210,500 |
Net cash provided by (used for) financing activities | 4,717,278 | 4,119,278 |
Net Increase (Decrease) In Cash | (182,154) | 432,452 |
Cash At The Beginning Of The Period | 841,349 | 408,896 |
Cash At The End Of The Period | 659,194 | 841,349 |
Supplemental disclosure of non-cash investing and financing activities: | ||
Discharge of debt related party | $ 4,388,165 | $ 0 |
ORGANIZATION AND BUSINESS BACKG
ORGANIZATION AND BUSINESS BACKGROUND | 12 Months Ended |
Sep. 30, 2021 | |
ORGANIZATION AND BUSINESS BACKGROUND | |
NOTE 1 - ORGANIZATION AND BUSINESS BACKGROUND | NOTE 1 – ORGANIZATION AND BUSINESS BACKGROUND Healthcare Solutions Management Group, Inc., a Delaware corporation, and successor in interest to Verity Delaware Inc., a Delaware corporation which was previously a Nevada corporation named Verity Corp. (“we,” “us, “our” or the “Company”) was incorporated on April 11, 2006 in the state of Nevada under the name Infrared Systems, International. On April 1, 2013, the Company changed its name from AquaLiv Technologies Inc. to Verity Corp. and our stock symbol changed to VRTY. In February 2016, all of the Company’s officers and directors resigned, and the Company stopped substantially all operating activities. At such time, the Company became a “shell company,” as such term is defined in Rule 12b-2 under the Exchange Act. On June 14, 2019, the Company entered into a Merger Agreement (the “Merger Agreement”) by and between the Company, Verity Merger Corp., a wholly-owned subsidiary of the Company and a Delaware corporation (the “Merger Sub”), and Healthcare Solutions Holdings, Inc., a Delaware corporation (“HSH”). Pursuant to the terms of the Merger Agreement, the parties agreed that Merger Sub would merge with and into HSH, with HSH being the surviving entity and becoming a wholly-owned subsidiary of the Company (the “Merger”). The Merger closed on April 15, 2021 (the “Closing”), at which time Merger Sub merged with and into HSH with HSH being the surviving entity, and HSH became our wholly owned subsidiary. As a result of the consummation of the Merger, HSH became our wholly owned subsidiary and the business of HSH became the business of the Company going forward. HSH is an integrated healthcare company which strives to provide vital services and a high-quality of care for patients over the course of their lifetime. HSH was organized with the goal of becoming an advanced, national healthcare system in the United States, providing clinicians with state-of-the-art diagnostic and therapeutic tools, and providing patients with greater access to a higher level of care in local communities that it believes have historically been underserved by the medical industry. HSH currently conducts directly through HSH, and in the near future intends to, conduct various, distinct operations through its to be formed wholly owned operating subsidiaries, within the medical industry, seeking to serve the needs of patients’ and physicians alike. At the Closing of the Merger, Robert Stevens (the “Receiver”) appointed new officers and directors of the Company. As consideration for the services of the Receiver and his team, for acting as the court-appointed receiver for the Company and its predecessor and affiliated entities, and pursuant the Merger Agreement, as amended, in August of 2020, the Receiver and certain entities, as directed by the Receiver, were issued an aggregate total of 114,599,754 shares of the Company’s common stock. At Closing, the aggregate Merger consideration paid to the holders of the HSH common was 1,145,997,555 shares of the Company’s common stock constituting 90% of the issued and outstanding shares of Company common stock immediately following the Closing. As a result of the consummation of the Merger, on April 15, 2021, HSH became our wholly owned subsidiary and the business of HSH became the business of the Company going forward. Accordingly, at the Closing, the Company ceased to be a shell company as of April 15, 2021. The Merger is intended to be a reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and the Merger Agreement is intended to be a “plan of reorganization” within the meaning of the regulations promulgated under Section 368(a) of the Code and for the purpose of qualifying as a tax-free transaction for federal income tax purposes. The Merger was accounted for as a reverse merger and HSH is considered the acquirer for accounting and financial reporting purposes. The Company was previously in receivership. On May 16, 2016, pursuant to Case Number A16-733815-B, Nevada’s 8th Judicial District, Business Court, appointed Robert Stevens as receiver (the “Receiver”) for the Company. Creditors of the Company were required to provide claims in writing under oath on or before November 3, 2016, or they would be barred under Nevada Revised Statute §78.675. Since May 16, 2016, through the date of the Merger, the Company was operating under the direction of the Receiver. On March 5, 2018, the District Court in Clark County, Nevada approved a plan of reorganization for the Company and the discharge of the Receiver upon completion of his duties under the court order. Upon the Closing of the Merger, the reorganization of the Company described in the court order was completed and, as a result and pursuant to the court order dated March 5, 2018, the Receiver was automatically discharged and the receivership was automatically terminated such that no further action was needed by the Receiver or the Company in connection with the receivership, and such that Company was no longer in receivership. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Going Concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. On a consolidated basis, the Company has incurred significant operating losses since inception. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Historically, the Company has raised capital through private placements, notes payable and related party loans as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans in order to fund its operations. Change in Fiscal Year End On November 5, 2020, the Company’s court appointed receiver, acting under judicial order on behalf of the Board of Directors of the Company, in accordance with the Company’s Bylaws, acted by written consent to change the Company’s Fiscal Year End from June 30 to September 30. Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) under the accrual basis of accounting. Reverse split On September 13, 2021, the Board of Directors of the Company approved a 1 for 115 Reverse Stock Split of the Company’s common stock with any fractional shares of common stock resulting therefrom being rounded up to the nearest whole share of common stock. All share amounts referenced in this Report have been retroactively adjusted to reflect the reverse stock split for all periods presented, unless specifically stated otherwise. Reclassification Certain prior period amounts have been reclassified to conform with the current period presentation. Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of expenses during the reporting periods. These accounts and estimates include, but are not limited to liabilities and tax provisions. Actual results could differ from these estimates. Basis of Consolidation The consolidated financial statements include the financial statements of the Company and its subsidiary. All significant inter-company balances and transactions within the Company and subsidiaries have been eliminated upon consolidation. Cash and Cash Equivalents Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. Revenue Recognition Service income is generated from the resale of 3 rd In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) Other Assets and Deferred Costs – Contracts with Customers Fair Value Measurements FASB ASC 820, Fair Value Measurements and Disclosures · Level 1: Quoted prices in active markets for identical assets or liabilities. · Level 2: Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable. · Level 3: Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2021 and September 30, 2020. The Company uses the market approach to measure fair value for its Level 1 financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The respective carrying value of certain balance sheet financial instruments approximates its fair value. These financial instruments include cash, trade receivables, related party payables, accounts payable, accrued liabilities and short-term borrowings. Fair values were estimated to approximate carrying values for these financial instruments since they are short term in nature, and they are receivable or payable on demand. The estimated fair value of assets and liabilities acquired in business combinations and reporting units and long-lived assets used in the related asset impairment tests utilize inputs classified as Level 3 in the fair value hierarchy. The Company determines the fair value of contingent consideration based on a probability-weighted discounted cash flow analysis. The fair value remeasurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in the fair value hierarchy. In each period, the Company reassesses its current estimates of performance relative to the stated targets and adjusts the liability to fair value. Any such adjustments are included as a component of Other Income (Expense) in the Consolidated Statements of Operations and Comprehensive Loss. Investments The Company was initially funded by Landes & Cie Private Trust based out of Sweden. In the U.S. there are certain regulatory requirements for healthcare companies in U.S. to maintain a minimum amount of capital on hand or they are subject to additional rules and regulation. Landes provided enough capital for the company so that all regulatory capital thresh holds are met. We have identified accounting for marketable investment securities as a critical accounting policy due to the significance of the amounts included in our balance sheet. All of the securities included in investments have quoted market prices and trade actively. The Company’s intention is not to actively trade its investments or to use this investment for working capital. The Company records these investments at their fair value based on quoted market prices with the unrealized gain or loss recorded in accumulated other comprehensive income, a component of stockholders’ equity, net of deferred taxes. Income Taxes The Company adopts the ASC Topic 740, “Income Taxes “ regarding accounting for uncertainty in income taxes which prescribes the recognition threshold and measurement attributes for financial statement recognition and measurement of tax positions taken or expected to be taken on a tax return. In addition, the guidance requires the determination of whether the benefits of tax positions will be more likely than not sustained upon audit based upon the technical merits of the tax position. For tax positions that are determined to be more likely than not sustained upon audit, a company recognizes the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. For tax positions that are not determined to be more likely than not sustained upon audit, a company does not recognize any portion of the benefit in the financial statements. The guidance provides for de-recognition, classification, penalties, and interest, accounting in interim periods and disclosure. For the years ended September 30, 2021, and 2020, the Company did not have any interest and penalties associated with tax positions. As of September 30, 2021, and September 30, 2020, the Company did not have any significant unrecognized uncertain tax positions. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits or that future deductibility is uncertain. Professional Fees With the exception of legal fees, substantially all professional fees expensed by the Company subsequent to the appointment of the court-appointed Receiver, represent hours of work performed by him to help the Company emerge from receivership by obtaining external financing. The fees are a liability of the Company and are expensed as incurred. Related Parties The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20, the Related parties include a). affiliates of the Company; b). entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; c). trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d). principal owners of the Company; e). management of the Company; f). other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g). other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include a). the nature of the relationship(s) involved; b). a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c). the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d). amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. Commitments and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s consolidated financial position, consolidated results of operations or consolidated cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, consolidated financial position, and consolidated results of operations or consolidated cash flows. Accounts Receivable Accounts receivable are customer obligations due under normal trade terms which are recorded at net realizable value. The Company establishes an allowance for doubtful accounts based on management’s assessment of the collectability of trade receivables. A considerable amount of judgment is required in assessing the amount of the allowance. The Company makes judgments about the creditworthiness of each customer based on ongoing credit evaluations and monitors current economic trends that might impact the level of credit losses in the future. If the financial condition of the customers were to deteriorate, resulting in their inability to make payments, a specific allowance will be required. Recovery of bad debt amounts previously written off is recorded as a reduction of bad debt expense in the period the payment is collected. If the Company’s actual collection experience changes, revisions to its allowance may be required. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Property and Equipment The equipment is comprised of ultrasounds, beds, stretchers, cardiac telemetry equipment, cardiac monitors, defibrillators, and other surgical equipment. Property and equipment are stated at cost or fair value if acquired as part of a business combination. Depreciation is computed by the straight-line method and is charged to operations over the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred. The carrying amount and accumulated depreciation of assets sold or retired are removed from the accounts in the year of disposal and any resulting gain or loss is included in results of operations. The estimated useful lives of property and equipment are as follows: Computers, software, and office equipment 1 – 5 years Surgical equipment 7 years Furniture and fixtures 5 – 10 years Leasehold improvements Lesser of the lease term or estimated useful life As of September 30, 2021 and September 30, 2020 the Company had $1,821,081 and $587,083 in equipment that had not yet been placed in service. Subsequent Events The Company adopted FASB Accounting Standards Codification 855 “Subsequent Events” (“ASC 855”) to establish general standards of accounting for and disclosure of events that occur after the balance sheet date, but before the financial statements are issued or available to be issued. Recently issued accounting standards The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its consolidated financial condition or the consolidated results of its operations. |
ACCOUNTS RECEIVABLE
ACCOUNTS RECEIVABLE | 12 Months Ended |
Sep. 30, 2021 | |
ACCOUNTS RECEIVABLE | |
NOTE 3 - ACCOUNTS RECEIVABLE | NOTE 3. ACCOUNTS RECEIVABLE The following table sets forth the components of the Company’s accounts receivable on September 30, 2021 and September 30, 2020: September 30, 2021 September 30, 2020 Accounts receivable 825,712 74,622 Total accounts receivable $ 825,712 $ 74,622 For the fiscal year ended September 30, 2021 and 2020, the were no customers that accounted for more than 10% of annual revenue. |
INVESTMENTS
INVESTMENTS | 12 Months Ended |
Sep. 30, 2021 | |
INVESTMENTS | |
NOTE 4 - INVESTMENTS | NOTE 4 – INVESTMENTS As of September ne 30, 2021 and September 30, 2020 the balance of investments was $89,823,346 and $83,087,469 respectively. These investment are comprised of securities that trade frequently with quoted prices. The Company’s intention is not to trade these securities but rather to hold these securities to demonstrate that the Company has enough capital on hand to meet regulatory requirements for certain healthcare companies. For the fiscal year ended September 30, 2021 the Company recorded an unrealized gains on investments of $5,598,328 compared to a unrealized loss on investments of $1,137,548 for the fiscal year ended September 30, 2020, respectively. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 12 Months Ended |
Sep. 30, 2021 | |
RELATED PARTY TRANSACTIONS | |
NOTE 5 - RELATED PARTY TRANSACTIONS | NOTE 5 – RELATED PARTY TRANSACTIONS Since the inception of the Company, substantially all of the funding for Company has been provided by related parties that have extended interest free demand loans. These related parties are as follows: (1) BLS, Inc. is controlled by Charles Balaban, a Director of the Company (2) BOAM, Inc. is controlled by Charles Balaban (3) Healthcare Solutions DX, Inc. is controlled by Justin Smith, Chairman of the Company’s Board of Directors (4) JHMA, Inc. is controlled by Doug Millar, head of the Company’s Corporate Compliance and Regulatory Matters (5) Jonathan Loutzenhiser – is a Vice President of the Company Balance Due Balance Due 9/30/2021 9/30/2020 BLS, Inc. $ 3,997,500 $ 3,690,000 BOAM, Inc. 582,409 582,409 Healthcare Solutions DX, Inc. 1,302,151 1,161,239 JHMA, Inc. 4,114,490 3,748,329 Jonathan Loutzenhiser 3,608,590 3,241,429 |
DEBT
DEBT | 12 Months Ended |
Sep. 30, 2021 | |
DEBT | |
NOTE 6 - DEBT | NOTE 6 – DEBT The following tables set forth the components of the Company’s notes as of September 30, 2021 and September 30, 2020 September 30, 2021 September 30, 2020 PPP Loans $ 210,500 $ 210,500 Notes payable 456,000 465,323 $ 666,500 $ 675,823 |
SHAREHOLDERS EQUITY
SHAREHOLDERS EQUITY | 12 Months Ended |
Sep. 30, 2021 | |
SHAREHOLDERS EQUITY | |
NOTE 7 - SHAREHOLDERS' EQUITY | NOTE 7 – SHAREHOLDERS’ EQUITY The Company has 1,400,000,000 common shares authorized at a par value of $0.001. As of September 30, 2021, and September 30, 2020 the were 11,072,440 and 1,107,244 common shares outstanding, respectively. On September 13, 2021, the Board of Directors of the Company approved a 1 for 115 Reverse Stock Split of the Company’s common stock with any fractional shares of common stock resulting therefrom being rounded up to the nearest whole share of common stock On April 15, 2021 the Company consummated the Merger, whereby 9,965,196 (post-split) shares of the Company’s common stock were issued to the holders of HSH common stock. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Sep. 30, 2021 | |
COMMITMENTS AND CONTINGENCIES | |
NOTE 8 - COMMITMENTS AND CONTINGENCIES | NOTE 8 – COMMITMENTS AND CONTINGENCIES The Company’s principal office is located at 3 School St, Suite 303, Glen Cove, NY 11542, where it leases approximately 2,250 square feet of office space at a monthly rent of $2,500 per month. We believe that these facilities are adequate to support the Company’s existing operations and that we will be able to obtain appropriate additional facilities or alternative facilities on commercially reasonable terms if and when necessary. |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Sep. 30, 2021 | |
INCOME TAXES | |
NOTE 9 - INCOME TAXES | NOTE 9 – INCOME TAXES Due to the historical operating losses, the inability to recognize an income tax benefit, and the failure to file tax returns for numerous years, there is no provision for current or deferred federal or state income taxes for the period from inception through the period ended September 30, 2021. As of September 30, 2021 the Company had a retained earnings deficit of $29,171,161, however, the amount of that loss that could be carried forward to offset future taxes is indeterminable. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Sep. 30, 2021 | |
SUBSEQUENT EVENTS | |
NOTE 10 - SUBSEQUENT EVENTS | NOTE 10 – SUBSEQUENT EVENTS In accordance with ASC 855-10 management has performed an evaluation of subsequent events from September 30, 2021, through the date the financial statements were available to be issued and noted in subsequent events requiring disclosure except as follows: Ambulatory Surgery Center Development Agreement On November 26, 2021, the Company and HSH and HSH’s wholly owned subsidiary HSH Surgical, Inc. (“HSHS”) entered into an Ambulatory Surgery Center Development Agreement (the “Agreement”) with Jameson, LLC DBA American Development Partners, a Tennessee limited liability company (together with its subsidiaries, related parties, successors-in-interests, and affiliates, the “Developer”). The term of the Agreement is ten (10) years from November 26, 2021. Pursuant to the Agreement, the Developer agreed to use commercially reasonable efforts to present HSHS with “Qualified Projects,” as such term is defined in the Agreement. During the term of the Agreement, the Developer agreed to present HSHS with ten (10) Qualified Projects per year, HSHS however is not required to accept a Qualified Project. HSHS agreed to enter into one hundred (100) Lease Agreements (the “Tenant Commitment”) with an option for twenty-five (25) additional units with anticipated development costs to be approximately fourteen million dollars ($14,000,000) a unit (actual costs will vary based on individual projects) for a total initial commitment of approximately one billion four hundred million dollars ($1,400,000,000) with an option for an additional three hundred and fifty million dollars ($350,000,000); provided that each Lease Agreement relates to a Qualified Project. Pursuant to the Agreement, the Developer has the exclusive rights to develop single tenant HSH Surgical Ambulatory Surgery Center units on a nationwide basis for HSHS. Urgent Care Center Development Agreement On November 26, 2021, the Company, HSH and HSH’s wholly owned subsidiary Advance Care Medical Holdings, Inc. (“ACM”) entered into an Urgent Care Center Development Agreement (the “UC Agreement”) with Jameson, LLC DBA American Development Partners, a Tennessee limited liability company (together with its subsidiaries, related parties, successors-in-interests, and affiliates, the “Developer”). The term of the UC Agreement is ten (10) years from November 26, 2021. Pursuant to the UC Agreement, the Developer agreed to use commercially reasonable efforts to present ACM with “Qualified Projects,” as such term is defined in the UC Agreement. During the term of the UC Agreement, the Developer agreed to present ACM with seventy-five (75) Qualified Projects per year, however ACM is not required to accept a Qualified Project. ACM agreed to enter into five hundred (500) Lease Agreements (the “Tenant Commitment”) with an option for two hundred (200) additional units with anticipated development costs to be approximately four million five hundred thousand dollars ($4,500,000) a unit (actual costs will vary based on individual projects) or a total initial commitment of approximately two billion two hundred and fifty million dollars ($2,250,000,000.00) with an option for an additional nine hundred million dollars ($900,000,000); provided that each Lease Agreement relates to a Qualified Project. The developer has the exclusive rights to develop single tenant Advance Care Medical Urgent and Comprehensive Care Center units on a nationwide basis for ACM. The entry into the Agreement and the UC Agreement, triggered the issuance, on December 31, 2021 by the Company of 81,000,000 shares of its common stock to the following parties in the following amounts (the “Shares”). The issuance of the Shares were triggered pursuant to: · A management consulting agreement with Black Label Services, Inc., dated July 15, 2018: 22,000,000 shares of common stock. · A management consulting agreement with Jackson Hole Medical Advisors, Inc., dated July 15, 2018: 22,000,000 shares of common stock. · An employment agreement with Jonathan Loutzenhiser, dated July 15, 2018: 22,000,000 shares of common stock. · A consulting services agreement with 168 Capital, Inc., dated October 1, 2018: 9,000,000 shares of common stock. · A consulting services agreement with Alpha Properties LLC., dated October 1, 2018: 3,000,000 shares of common stock. · A consulting services agreement with Stin Marketing Group LLC., dated October 1, 2018: 3,000,000 shares of common stock. Additionally, subsequent to September 30, 2021, the Company issued 142,198 shares for consulting services. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Going Concern | The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these financial statements. On a consolidated basis, the Company has incurred significant operating losses since inception. Because the Company does not expect that existing operational cash flow will be sufficient to fund presently anticipated operations, this raises substantial doubt about the Company’s ability to continue as a going concern. Therefore, the Company will need to raise additional funds and is currently exploring alternative sources of financing. Historically, the Company has raised capital through private placements, notes payable and related party loans as an interim measure to finance working capital needs and may continue to raise additional capital through the sale of common stock or other securities and obtaining some short-term loans in order to fund its operations. |
Change in Fiscal Year End | On November 5, 2020, the Company’s court appointed receiver, acting under judicial order on behalf of the Board of Directors of the Company, in accordance with the Company’s Bylaws, acted by written consent to change the Company’s Fiscal Year End from June 30 to September 30. |
Basis of Presentation | The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) under the accrual basis of accounting. |
Reverse split | On September 13, 2021, the Board of Directors of the Company approved a 1 for 115 Reverse Stock Split of the Company’s common stock with any fractional shares of common stock resulting therefrom being rounded up to the nearest whole share of common stock. All share amounts referenced in this Report have been retroactively adjusted to reflect the reverse stock split for all periods presented, unless specifically stated otherwise. |
Reclassification | Certain prior period amounts have been reclassified to conform with the current period presentation. |
Use of Estimates | In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of expenses during the reporting periods. These accounts and estimates include, but are not limited to liabilities and tax provisions. Actual results could differ from these estimates. |
Basis of Consolidation | The consolidated financial statements include the financial statements of the Company and its subsidiary. All significant inter-company balances and transactions within the Company and subsidiaries have been eliminated upon consolidation. |
Cash and Cash Equivalents | Cash and cash equivalents are carried at cost and represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with an original maturity of three months or less as of the purchase date of such investments. |
Revenue Recognition | Service income is generated from the resale of 3 rd In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) Other Assets and Deferred Costs – Contracts with Customers |
Fair Value Measurements | FASB ASC 820, Fair Value Measurements and Disclosures · Level 1: Quoted prices in active markets for identical assets or liabilities. · Level 2: Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable. · Level 3: Unobservable inputs that are supported by little or no market activity, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of September 30, 2021 and September 30, 2020. The Company uses the market approach to measure fair value for its Level 1 financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The respective carrying value of certain balance sheet financial instruments approximates its fair value. These financial instruments include cash, trade receivables, related party payables, accounts payable, accrued liabilities and short-term borrowings. Fair values were estimated to approximate carrying values for these financial instruments since they are short term in nature, and they are receivable or payable on demand. The estimated fair value of assets and liabilities acquired in business combinations and reporting units and long-lived assets used in the related asset impairment tests utilize inputs classified as Level 3 in the fair value hierarchy. The Company determines the fair value of contingent consideration based on a probability-weighted discounted cash flow analysis. The fair value remeasurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in the fair value hierarchy. In each period, the Company reassesses its current estimates of performance relative to the stated targets and adjusts the liability to fair value. Any such adjustments are included as a component of Other Income (Expense) in the Consolidated Statements of Operations and Comprehensive Loss. |
Investments | The Company was initially funded by Landes & Cie Private Trust based out of Sweden. In the U.S. there are certain regulatory requirements for healthcare companies in U.S. to maintain a minimum amount of capital on hand or they are subject to additional rules and regulation. Landes provided enough capital for the company so that all regulatory capital thresh holds are met. We have identified accounting for marketable investment securities as a critical accounting policy due to the significance of the amounts included in our balance sheet. All of the securities included in investments have quoted market prices and trade actively. The Company’s intention is not to actively trade its investments or to use this investment for working capital. The Company records these investments at their fair value based on quoted market prices with the unrealized gain or loss recorded in accumulated other comprehensive income, a component of stockholders’ equity, net of deferred taxes. |
Income Taxes | The Company adopts the ASC Topic 740, “Income Taxes “ regarding accounting for uncertainty in income taxes which prescribes the recognition threshold and measurement attributes for financial statement recognition and measurement of tax positions taken or expected to be taken on a tax return. In addition, the guidance requires the determination of whether the benefits of tax positions will be more likely than not sustained upon audit based upon the technical merits of the tax position. For tax positions that are determined to be more likely than not sustained upon audit, a company recognizes the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. For tax positions that are not determined to be more likely than not sustained upon audit, a company does not recognize any portion of the benefit in the financial statements. The guidance provides for de-recognition, classification, penalties, and interest, accounting in interim periods and disclosure. For the years ended September 30, 2021, and 2020, the Company did not have any interest and penalties associated with tax positions. As of September 30, 2021, and September 30, 2020, the Company did not have any significant unrecognized uncertain tax positions. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of income in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits or that future deductibility is uncertain. |
Professional Fees | With the exception of legal fees, substantially all professional fees expensed by the Company subsequent to the appointment of the court-appointed Receiver, represent hours of work performed by him to help the Company emerge from receivership by obtaining external financing. The fees are a liability of the Company and are expensed as incurred. |
Related Parties | The Company follows subtopic 850-10 of the FASB Accounting Standards Codification for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20, the Related parties include a). affiliates of the Company; b). entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825–10–15, to be accounted for by the equity method by the investing entity; c). trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; d). principal owners of the Company; e). management of the Company; f). other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g). other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include a). the nature of the relationship(s) involved; b). a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c). the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d). amounts due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. |
Commitments and Contingencies | The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s consolidated financial position, consolidated results of operations or consolidated cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, consolidated financial position, and consolidated results of operations or consolidated cash flows. |
Accounts Receivable | Accounts receivable are customer obligations due under normal trade terms which are recorded at net realizable value. The Company establishes an allowance for doubtful accounts based on management’s assessment of the collectability of trade receivables. A considerable amount of judgment is required in assessing the amount of the allowance. The Company makes judgments about the creditworthiness of each customer based on ongoing credit evaluations and monitors current economic trends that might impact the level of credit losses in the future. If the financial condition of the customers were to deteriorate, resulting in their inability to make payments, a specific allowance will be required. Recovery of bad debt amounts previously written off is recorded as a reduction of bad debt expense in the period the payment is collected. If the Company’s actual collection experience changes, revisions to its allowance may be required. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. |
Property and Equipment | The equipment is comprised of ultrasounds, beds, stretchers, cardiac telemetry equipment, cardiac monitors, defibrillators, and other surgical equipment. Property and equipment are stated at cost or fair value if acquired as part of a business combination. Depreciation is computed by the straight-line method and is charged to operations over the estimated useful lives of the assets. Maintenance and repairs are charged to expense as incurred. The carrying amount and accumulated depreciation of assets sold or retired are removed from the accounts in the year of disposal and any resulting gain or loss is included in results of operations. The estimated useful lives of property and equipment are as follows: Computers, software, and office equipment 1 – 5 years Surgical equipment 7 years Furniture and fixtures 5 – 10 years Leasehold improvements Lesser of the lease term or estimated useful life As of September 30, 2021 and September 30, 2020 the Company had $1,821,081 and $587,083 in equipment that had not yet been placed in service. |
Subsequent Events | The Company adopted FASB Accounting Standards Codification 855 “Subsequent Events” (“ASC 855”) to establish general standards of accounting for and disclosure of events that occur after the balance sheet date, but before the financial statements are issued or available to be issued. |
Recently issued accounting standards | The Company has reviewed all recently issued, but not yet effective, accounting pronouncements and does not believe the future adoption of any such pronouncements may be expected to cause a material impact on its consolidated financial condition or the consolidated results of its operations. |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | |
Schedule of Property and Equipment | Computers, software, and office equipment 1 – 5 years Surgical equipment 7 years Furniture and fixtures 5 – 10 years Leasehold improvements Lesser of the lease term or estimated useful life |
ACCOUNTS RECEIVABLE (Tables)
ACCOUNTS RECEIVABLE (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
ACCOUNTS RECEIVABLE (Tables) | |
Schedule of Accounts Receivable | September 30, 2021 September 30, 2020 Accounts receivable 825,712 74,622 Total accounts receivable $ 825,712 $ 74,622 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
RELATED PARTY TRANSACTIONS (Tables) | |
Schedule of Related Parties | Balance Due Balance Due 9/30/2021 9/30/2020 BLS, Inc. $ 3,997,500 $ 3,690,000 BOAM, Inc. 582,409 582,409 Healthcare Solutions DX, Inc. 1,302,151 1,161,239 JHMA, Inc. 4,114,490 3,748,329 Jonathan Loutzenhiser 3,608,590 3,241,429 |
DEBT (Tables)
DEBT (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
DEBT (Tables) | |
Schedule of Debt | September 30, 2021 September 30, 2020 PPP Loans $ 210,500 $ 210,500 Notes payable 456,000 465,323 $ 666,500 $ 675,823 |
ORGANIZATION AND BUSINESS BAC_2
ORGANIZATION AND BUSINESS BACKGROUND (Details Narrative) - August 2020 [Member] - Merger Agreement [Member] | 12 Months Ended |
Sep. 30, 2021shares | |
Agreement descriptions | the Company’s common stock constituting 90% of the issued and outstanding shares of Company common stock immediately following the Closing. |
Consideration paid at closing, shares | 1,145,997,555 |
Receiver Shares | 114,599,754 |
SUMMARY OF SIGNIFICANT ACCOUN_4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) | 12 Months Ended |
Sep. 30, 2021 | |
Leasehold improvements | Lesser of the lease term or estimated useful life |
Minimum [Member] | Computers, software, and office equipment [Member] | |
Computers, software, and office equipment | 1 year |
Maximum [Member] | Computers, software, and office equipment [Member] | |
Computers, software, and office equipment | 5 years |
Surgical equipment [Member] | |
Estimated useful lives of property and equipment | 7 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Estimated useful lives of property and equipment | 5 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Estimated useful lives of property and equipment | 10 years |
SUMMARY OF SIGNIFICANT ACCOUN_5
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||
Property and Equipment | $ 1,821,081 | $ 587,083 |
Recognized income tax position description | a company recognizes the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement in the financial statements. |
ACCOUNTS RECEIVABLE (Details)
ACCOUNTS RECEIVABLE (Details) - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 |
ACCOUNTS RECEIVABLE (Details) | ||
Accounts receivable | $ 825,712 | $ 74,622 |
Total accounts receivable | $ 825,712 | $ 74,622 |
INVESTMENTS (Details Narrative)
INVESTMENTS (Details Narrative) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
INVESTMENTS (Details Narrative) | ||
Unrealized gains on investments | $ 5,598,328 | $ 1,137,548 |
Investments | $ 89,823,346 | $ 83,087,469 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | Sep. 30, 2021 | Sep. 30, 2020 |
Healthcare Solutions DX, Inc. [Member] | ||
Due to related party | $ 1,302,151 | $ 1,161,239 |
JHMA, Inc [Member] | ||
Due to related party | 4,114,490 | 3,748,329 |
Jonathan Loutzenhiser [Member] | ||
Due to related party | 3,608,590 | 3,241,429 |
BLS, Inc. [Member] | ||
Due to related party | 3,997,500 | 3,690,000 |
BOAM, Inc. [Member] | ||
Due to related party | $ 582,409 | $ 582,409 |
DEBT (Details)
DEBT (Details) - USD ($) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
DEBT | ||
PPP Loans | $ 210,500 | $ 210,500 |
Notes payable | 456,000 | 465,323 |
Total | $ 666,500 | $ 675,823 |
SHAREHOLDERS EQUITY (Details Na
SHAREHOLDERS EQUITY (Details Narrative) - $ / shares | Sep. 30, 2021 | Apr. 15, 2021 | Sep. 30, 2020 |
SHAREHOLDERS EQUITY | |||
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares authorized | 1,400,000,000 | 1,400,000,000 | |
Common stock, shares outstanding | 11,072,440 | 1,107,244 | |
Common stock, Merger | 9,965,196 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) | 12 Months Ended |
Sep. 30, 2021USD ($) | |
COMMITMENTS AND CONTINGENCIES | |
Monthly rent | $ 2,500 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) | Sep. 30, 2021USD ($) |
INCOME TAXES | |
Retained earnings deficit | $ (29,171,161) |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) - USD ($) | 1 Months Ended | ||||
Nov. 26, 2021 | Dec. 31, 2021 | Sep. 30, 2021 | Oct. 01, 2018 | Jul. 15, 2018 | |
Common stock shares issued | 142,198 | ||||
Ambulatory Surgery Center Development Agreement [Member] | |||||
Description of agreement | ten (10) Qualified Projects per year, HSHS however is not required to accept a Qualified Project. HSHS agreed to enter into one hundred (100) Lease Agreements (the “Tenant Commitment”) with an option for twenty-five (25) additional units | ||||
Total initial commitment | $ 1,400,000,000 | ||||
Options | 350,000,000 | ||||
Development costs | $ 14,000,000 | ||||
Urgent Care Center Development Agreement [Member] | |||||
Description of agreement | seventy-five (75) Qualified Projects per year, however ACM is not required to accept a Qualified Project. ACM agreed to enter into five hundred (500) Lease Agreements (the “Tenant Commitment”) with an option for two hundred (200) additional units | ||||
Total initial commitment | $ 2,250,000,000 | ||||
Options | 900,000,000 | ||||
Development costs | $ 4,500,000 | ||||
UC Agreement [Member] | |||||
Common stock shares issued | 81,000,000 | ||||
JHMA, Inc [Member] | |||||
Common stock shares issued | 22,000,000 | ||||
Jonathan Loutzenhiser [Member] | |||||
Common stock shares issued | 22,000,000 | ||||
BLS, Inc. [Member] | |||||
Common stock shares issued | 22,000,000 | ||||
Alpha Properties LLC [Member] | |||||
Common stock shares issued | 3,000,000 | ||||
Stin Marketing Group LLC [Member] | |||||
Common stock shares issued | 3,000,000 | ||||
168 Capita, Inc [Member] | |||||
Common stock shares issued | 9,000,000 |