HST Global (HSTC) 10-Q 15 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Document and Entity Information:
Entity Registrant Name	HST Global, Inc.
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Entity Central Index Key	797,564
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	36,719,854
Entity Public Float		$ 0.1
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	hstc

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)		Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents		$ 479	$ 465
Total Current Assets		479	465
TOTAL ASSETS		479	465
CURRENT LIABILITIES
Accounts payable and accrued expenses		40,041	25,219
Accounts payable and accrued expenses - related parties		505,959	505,959
Accrued officer compensation		900,000	870,000
Accrued related party interest		314,070	305,133
Notes payable - related party		1,329,869	1,321,669
Total Current Liabilities		3,089,939	3,027,980
TOTAL LIABILITIES		3,089,939	3,027,980
STOCKHOLDERS' DEFICIT
Preferred stock	[1]
Common stock	[2]	36,720	36,720
Additional paid-in capital		2,384,824	2,384,824
Accumulated deficit		(5,511,004)	(5,449,059)
Total Stockholders' Deficit		(3,089,460)	(3,027,515)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT		$ 479	$ 465
[1]	5,000,000 shares authorized, at $0.001 par value, -0- shares issued and outstanding, respectively
[2]	100,000,000 shares authorized, at $0.001 par value, 36,719,854 and 36,719,854 shares issued and outstanding, respectively

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
OPERATING EXPENSES
Consulting	$ 30,000	$ 30,000
General and administrative	23,008	3,521
Total Operating Expenses	53,008	33,521
LOSS FROM OPERATIONS	(53,008)	(33,521)
OTHER EXPENSE
Interest expense	(8,937)	(8,937)
Total Other Expense	(8,937)	(8,937)
LOSS BEFORE INCOME TAXES	(61,945)	(42,458)
NET LOSS	$ (61,945)	$ (42,458)
BASIC AND DILUTED LOSS PER SHARE	$ 0	$ 0
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	36,719,854	36,719,854

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES
NET LOSS	$ (61,945)	$ (42,458)
Changes in operating assets and liabilities:
Change in accounts payable and accrued expenses	14,822	3,440
Change in accrued officer compensation	30,000	30,000
Change in accrued related party interest	8,937	8,937
Net Cash Used in Operating Activities	(8,186)	(81)
FINANCING ACTIVITIES
Proceeds from notes payable - related party	8,200
Net Cash Provided by Financing Activities	8,200
NET CHANGE IN CASH AND CASH EQUIVALENTS	14	(81)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	465	195
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 479	$ 114

Note 1 - Organization and Princ

Note 1 - Organization and Principal Activities	3 Months Ended
	Mar. 31, 2017
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. HST Global, Inc. is an integrated Health and Wellness Biotechnology company that is 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, 2017
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. Interim Financial Statements These interim unaudited financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. Princliples of Consolidation The consolidated financial statements include our wholly-owned subsidiary. Intercompany balances and transactions have been eliminated. 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. The Company had no common stock equivalents outstanding as of March 31, 2016 and 2017. 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. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. The fair value of the Company’s cash is based on quoted prices and therefore classified as Level 1. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. Recently Issued Accounting Pronouncements In March 2016, the FASB issued Accounting Standards Update No. 2016-09 (ASU 2016-09) "Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." We do not believe this pronouncement will have a material impact on our financial statements, as the Company has not issued any stock based compensation in the last two full fiscal years or in any interim period. Management has considered all other 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, 2017
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. 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. 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 - Notes Payable - Relate

Note 4 - Notes Payable - Related Parties	3 Months Ended
	Mar. 31, 2017
Notes
Note 4 - Notes Payable - Related Parties	NOTE 4 – NOTES PAYABLE – RELATED PARTIES As of December 31, 2016 the Company owed $1,321,669 to related parties. During the three month period ended March 31, 2017, the Company received $8,200 in additional cash loans from a related party, leaving a balance of $1,329,869 as of March 31, 2017. Of this total, $595,800 is unsecured, bears interest at 6 percent per annum, and is due on demand; $200,000 is unsecured, bears a flat owed interest amount of $46,000, and is due on demand; and the remaining $484,069 is unsecured, bears no interest, and is due on demand. Included in the related party notes payable balance is a $50,000 penalty fee associated with one of its related party notes due to nonpayment.

Note 5 - Related Party Transact

Note 5 - Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Notes
Note 5 - Related Party Transactions	NOTE 5 – RELATED PARTY TRANSACTIONS Executive Offices The Company's executive offices are located at 150 Research Dr., Hampton VA. These offices are leased by The Health Network, Inc. ("THN"), of which Ron Howell is President. THN allows the Company to use the office space without a formal sublease or rental agreement. The Company previously accrued $15,000 per month for a general operating fee, which covered the use of office space, certain equipment, and various other services. However, due to the Company having limited available resources, THN has agreed to lease the Company office space at no charge. As of March 31, 2017 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. Mr. Howell received 714,286 shares of common stock valued at $120,000 as a partial payment for amounts owed under this agreement in January of 2010 and during 2009. The consulting agreement may be terminated at will by the Company. The Company intends to The Company has entered into a consulting agreement with Eric Clemons, a shareholder of the Company, whereby the Company agreed to pay Mr. Clemons $10,000 per month for consulting services through December 2009. This employment agreement carried the provision that it could be extended beyond this date upon mutual agreement by both parties and that the agreement could be canceled by the Company at any time after that date. Mr. Clemons received 1,471,419 shares of common stock valued at $103,000 as a partial payment for amounts owed under this agreement in January of 2010. The Company continued to accrue amounts owed under this agreement through July of 2010. The balance owed to Mr. Clemons at March 31, 2017 and December 31, 2016 is $70,000 and $70,000, respectively under this agreement. The Company disputes this amount and is currently assessing legal issues surrounding this obligation.

Note 6 - Subsequent Events

Note 6 - Subsequent Events	3 Months Ended
	Mar. 31, 2017
Notes
Note 6 - Subsequent Events	NOTE 6 – SUBSEQUENT EVENTS The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and has determined that there are no additional items to disclose.

Note 2 - Significant Accounti11

Note 2 - Significant Accounting Policies: Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2017
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.

Note 2 - Significant Accounti12

Note 2 - Significant Accounting Policies: Interim Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
Interim Financial Statements	Interim Financial Statements These interim unaudited financial statements have been prepared on the same basis as the annual financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period.

Note 2 - Significant Accounti13

Note 2 - Significant Accounting Policies: Princliples of Consolidation (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
Princliples of Consolidation	Princliples of Consolidation The consolidated financial statements include our wholly-owned subsidiary. Intercompany balances and transactions have been eliminated.

Note 2 - Significant Accounti14

Note 2 - Significant Accounting Policies: Accounting Method (Policies)	3 Months Ended
	Mar. 31, 2017
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 Accounti15

Note 2 - Significant Accounting Policies: Use of Estimates (Policies)	3 Months Ended
	Mar. 31, 2017
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 Accounti16

Note 2 - Significant Accounting Policies: Cash and Cash Equivalents (Policies)	3 Months Ended
	Mar. 31, 2017
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. Basic and Diluted Income (Loss) Per Share

Note 2 - Significant Accounti17

Note 2 - Significant Accounting Policies: Basic Loss Per Share (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
Basic 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. The Company had no common stock equivalents outstanding as of March 31, 2016 and 2017.

Note 2 - Significant Accounti18

Note 2 - Significant Accounting Policies: Stock-based Compensation (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
Stock-based Compensation	Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation”,

Note 2 - Significant Accounti19

Note 2 - Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	3 Months Ended
	Mar. 31, 2017
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. The Company’s financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy. The three levels are as follows: Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. The fair value of the Company’s cash is based on quoted prices and therefore classified as Level 1. Level 2 - Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). Level 3 - Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability.

Note 2 - Significant Accounti20

Note 2 - Significant Accounting Policies: Recently Issued Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2017
Policies
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2016, the FASB issued Accounting Standards Update No. 2016-09 (ASU 2016-09) "Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." We do not believe this pronouncement will have a material impact on our financial statements, as the Company has not issued any stock based compensation in the last two full fiscal years or in any interim period. Management has considered all other 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 - Notes Payable - Rela21

Note 4 - Notes Payable - Related Parties (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Details
Notes payable - related party	$ 1,329,869	$ 1,321,669
Proceeds from notes payable - related party	$ 8,200

Note 5 - Related Party Transa22

Note 5 - Related Party Transactions (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Details
Due to Affiliate, Current	$ 365,462	$ 365,462
Due to Officers or Stockholders, Current	830,000	800,000
Due to Other Related Parties, Current	$ 70,000	$ 70,000