HST Global (HSTC) 10-Q 26 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares		6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024
Details
Registrant CIK		0000797564
Fiscal Year End		--12-31
Entity Emerging Growth Company		true
Entity Small Business		true
Entity Ex Transition Period		false
Entity Shell Company		false
Document Type		10-Q
Document Period End Date		Jun. 30, 2024
Securities Act File Number		000-15303
Entity Registrant Name		HST Global, Inc.
Entity Incorporation, State or Country Code		NV
Entity Tax Identification Number		73-1215433
Entity Address, Address Line One		509 Old Great Neck Road
Entity Address, Address Line Two	Suite 105
Entity Address, City or Town		Virginia Beach
Entity Address, State or Province		VA
Entity Address, Postal Zip Code		23454
City Area Code		800
Local Phone Number		961-4750
Entity Current Reporting Status		Yes
Entity Interactive Data Current		Yes
Entity Filer Category		Non-accelerated Filer
Entity Common Stock, Shares Outstanding	41,561,226
Amendment Flag		false
Document Fiscal Year Focus		2024
Document Fiscal Period Focus		Q2
Document Quarterly Report		true
Document Transition Report		false

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 5,155	$ 1,526
Total Current Assets	5,155	1,526
Total Assets	5,155	1,526
Current Liabilities
Accounts payable and accrued expenses	1,350	2,275
Accounts payable and accrued expenses - related parties	0	480,000
Loans or advances from related party	21,600	98,319
Accrued related party interest	84	12,999
Total Current Liabilities	23,034	593,593
Total Liabilities	23,034	593,593
Stockholders' Deficit
Preferred stock; 10,000,000 shares authorized, at $0.001 par value, no shares issued and outstanding as of June 30, 2024 and December 31, 2023	0	0
Common stock; 200,000,000 shares authorized, at $0.001 par value, 41,561,226 and 5,248,582 shares issued and outstanding as of June 30, 2024 and December 31, 2023	41,560	5,248
Additional paid-in capital	6,005,929	5,417,236
Accumulated deficit	(6,065,368)	(6,014,551)
Total Stockholders' Deficit	(17,879)	(592,067)
Total Liabilities and Stockholders' Deficit	$ 5,155	$ 1,526

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Condensed Consolidated Statements of Operations
REVENUES	$ 0	$ 0	$ 0	$ 0
OPERATING EXPENSES
Consulting, related party	0	30,000	30,000	60,000
General and administrative	16,556	2,990	19,244	11,065
Total Operating Expenses	16,556	32,990	49,244	71,065
Loss from Operations	(16,556)	(32,990)	(49,244)	(71,065)
OTHER INCOME (EXPENSE)
Interest expense	84	1,305	1,573	2,516
Total Other Expense	(84)	(1,305)	(1,573)	(2,516)
Loss Before Income Taxes	(16,640)	(34,295)	(50,817)	(73,581)
Provision for Income Taxes	0	0	0	0
NET LOSS	$ (16,640)	$ (34,295)	$ (50,817)	$ (73,581)
Basic and Diluted Loss Per Share	$ 0	$ (0.01)	$ 0	$ (0.01)
Basic and Diluted Weighted Average Number of Common Shares Outstanding	31,984,264	5,248,582	15,090,838	5,248,582

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficit - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Parent
Balance, December 31, 2022	$ 5,248	$ 5,417,236	$ (5,868,341)	$ (445,857)
Balance, June 30, 2023	5,248	5,417,236	(5,868,341)	(445,857)
Net loss	0	0	(73,581)	(73,581)
Balance, December 31, 2023 at Dec. 31, 2022	5,248	5,417,236	(5,868,341)	(445,857)
Balance, June 30, 2024 at Jun. 30, 2023	5,248	5,417,236	(5,941,922)	(519,438)
Balance, December 31, 2022	5,248	5,417,236	(5,941,922)	(519,438)
Balance, June 30, 2023	5,248	5,417,236	(5,941,922)	(519,438)
Balance, December 31, 2022	5,248	5,417,236	(6,014,551)	(592,067)
Balance, June 30, 2023	5,248	5,417,236	(6,014,551)	(592,067)
Net loss	0	0	(50,817)	(50,817)
Balance, December 31, 2023 at Dec. 31, 2023	5,248	5,417,236	(6,014,551)	(592,067)
Balance, June 30, 2024 at Jun. 30, 2024	41,560	6,005,929	(6,065,368)	(17,879)
Balance, December 31, 2022	41,560	6,005,929	(6,065,368)	(17,879)
Balance, June 30, 2023	$ 41,560	$ 6,005,929	$ (6,065,368)	$ (17,879)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net loss	$ (50,817)	$ (73,581)
Adjustments to reconcile net loss to net cash used in operating activities
Expenses Paid Directly by Related Party Formalized as LOC	5,800	0
Changes in operating assets and liabilities
Accounts payable and accrued expenses	29,273	60,000
Accrued related party interest	1,573	2,517
Net Cash Used in Operating Activities	(14,171)	(11,064)
Investing Activities
Net Cash Used in Investing Activities	0	0
Financing Activities
Proceeds from loans or advances from related party	17,800	13,194
Net Cash Provided by Financing Activities	17,800	13,194
Net Change in Cash and Cash Equivalents	3,629	2,130
Cash and Cash Equivalents at Beginning of Period	1,526	190
Cash and Cash Equivalents at End of Period	5,155	2,320
Cash paid for interest	0	0
Cash paid for taxes	$ 0	$ 0

NOTE 1 - ORGANIZATION AND PRINC

NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES	6 Months Ended
	Jun. 30, 2024
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 (“NTHC”). The Company 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. (“HSTI”) This business acquisition was accounted for as a reverse merger or recapitalization of HSTI At the time of the merger NTHC had disposed of its assets and liabilities and had minimal operations. Immediately after the acquisition the Company changed its name to HST Global, Inc. HSTI was incorporated under the laws of the State of Nevada on August 6, 2007. The Company was headquartered in Hampton, VA on March 31, 2024 and is currently headquartered in Virginia Beach, Virginia. The Company was founded as an integrated health and wellness biotechnology company with a plan to develop and /or acquire a network of wellness centers worldwide that would be primarily focused on the homeopathic and alternative treatment of late stage cancer. The Company is a dynamic public holding company, strategically focused on the intersection of the healthcare, software, and transportation industries. With a commitment to innovation and excellence, HST Global specializes in identifying potential investment opportunities and spearheading ventures within these critical sectors. Core Industries • Healthcare • Software • Transportation Investment Philosophy The Company's investment philosophy centers on creating value through strategic acquisitions and the nurturing of innovative ideas into successful business ventures. By leveraging its industry insight and operational expertise, the Company aims to generate sustainable earnings growth and long-term value for its shareholders. Vision and Mission Vision Mission The accompanying interim condensed 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 accounting principles generally accepted in the United States of America (“U.S. GAAP”). 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 condensed 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, 2023. The results of operations for the period ended June 30, 2024, are not necessarily indicative of the results for a full-year period.

NOTE 2 - SIGNIFICANT ACCOUNTING

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Notes
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed financial statements and related notes include the activity of the Company and have been prepared in accordance with U.S. GAAP and with the rules and regulations of the SEC to Form 10-K and 10-Q. Accounting Method The Company’s condensed 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 condensed financial statements in conformity with U.S. GAAP 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 condensed 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 condensed 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 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 condensed financial statements. The Company computes net loss per share in accordance with ASC 260, “ Earnings Per Share Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation” their fair values beginning in the period they are granted and amortized over the applicable vesting period. As of June 30, 2024, the Company has not issued any employer stock options. Fair Value of Financial Instruments The Company adopted ASC 820, “ Fair Value Measurement 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 3 - GOING CONCERN

NOTE 3 - GOING CONCERN	6 Months Ended
	Jun. 30, 2024
Notes
NOTE 3 - GOING CONCERN	NOTE 3 – GOING CONCERN The Company’s condensed financial statements are prepared in accordance with U.S. GAAP 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 condensed 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 funds 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 condensed 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	6 Months Ended
	Jun. 30, 2024
Notes
NOTE 4 - RELATED PARTY TRANSACTIONS	NOTE 4 – RELATED PARTY TRANSACTIONS Loans or Advances from Related Party During the three months ended March 31, 2024, the Company received $2,000 in additional cash loans from Ronald R. Howell. As of March 31, 2024, the Company owed Mr. Howell $100,319 in notes payable. On April 24, 2024, the Company entered into a Reorganization and Stock Purchase Agreement (the “Reorganization Agreement”) by and among HP Auto Fund LLP (“HPAF”), HST Global Holdings, LLC (“HGHI”), Ron Howell (“Howell”) and The Health Network, Inc. (“Health Network”). Howell and Health Network were the principal shareholders of the Company. Effective April 26, 2024, the parties closed the Reorganization Agreement. As part of the transaction, Howell and Health Network, the then majority shareholders of the Company delivered 1,634,738 shares of common stock of the Company to each of HPAF and HGHI. Further, as part of the transaction, the outstanding debt of $625,005 owed to Howell was purchased by HPAF and HGHI for $500,000. The debt was converted to equity and the Company issued to each of HPAF and HGHI 18,156,322 shares of newly-issued common stock, which, together with the transferred shares, represented approximately 95% of the outstanding equity of the Company. As a consequence, immediately subsequent to the close of the Reorganization Agreement, the Company has 41,561,226 shares of common stock outstanding. Effective April 26, 2024 the Company announced the appointment of Mike Field and Jason Murphy as Directors of the Company. Subsequently, the Directors appointed Mike Field as President and Acting CFO and Jason Murphy as CEO, Vice President and Secretary. The Company entered a revolving line of credit on May 1, 2024 in the amount of $100,000 with HPAF and HGHI. Executive Offices The Company’s executive offices were located at 150 Research Dr., Hampton VA. These offices were leased by The Health Network, Inc. (“THN”), of which Ron Howell is President. Effective with the reorganization on April 24, 2024, the Company’s executive offices were moved to 509 Old Great Neck Road Suite 105 Virginia Beach, VA 23454. There is no lease for these offices at this time. Consulting Agreements The Company has been a party to 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 engage Mr. Howell as a consultant until his consulting services are no longer required. As of March 31, 2024, the Company owed Mr. Howell $510,000 under the consulting agreement plus $14,488 in accumulated interest expenses. As part of the reorganization on April 24, 2024, Mr. Howell cancelled all outstanding debt obligations owed to him which was a total of $625,005, including the amounts and accumulated interest due under the consulting agreement referenced above.

NOTE 5 - SUBSEQUENT EVENTS

NOTE 5 - SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2024
Notes
NOTE 5 - SUBSEQUENT EVENTS	NOTE 5 – SUBSEQUENT EVENTS In accordance with ASC 855, “Subsequent Events”

NOTE 2 - SIGNIFICANT ACCOUNTI_2

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Basis of Presentation	Basis of Presentation The accompanying condensed financial statements and related notes include the activity of the Company and have been prepared in accordance with U.S. GAAP and with the rules and regulations of the SEC to Form 10-K and 10-Q.

NOTE 2 - SIGNIFICANT ACCOUNTI_3

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Accounting Method (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Accounting Method	Accounting Method The Company’s condensed 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)	6 Months Ended
	Jun. 30, 2024
Policies
Use of Estimates	Use of Estimates The preparation of condensed financial statements in conformity with U.S. GAAP 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 condensed 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)	6 Months Ended
	Jun. 30, 2024
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 condensed 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)	6 Months Ended
	Jun. 30, 2024
Policies
Basic and Diluted Income (Loss) Per Share	Basic and Diluted 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 condensed financial statements. The Company computes net loss per share in accordance with ASC 260, “ Earnings Per Share

NOTE 2 - SIGNIFICANT ACCOUNTI_7

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Compensation (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Stock-Based Compensation	Stock-Based Compensation The Company adopted ASC 718, “Stock Compensation” their fair values beginning in the period they are granted and amortized over the applicable vesting period. As of June 30, 2024, the Company has not issued any employer stock options.

NOTE 2 - SIGNIFICANT ACCOUNTI_8

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company adopted ASC 820, “ Fair Value Measurement 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 4 - RELATED PARTY TRANSA_2

NOTE 4 - RELATED PARTY TRANSACTIONS (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Loans or advances from related party	$ 21,600	$ 98,319
Reorganization Agreement
Subsequent Event, Description	On April 24, 2024, the Company entered into a Reorganization and Stock Purchase Agreement (the “Reorganization Agreement”) by and among HP Auto Fund LLP (“HPAF”), HST Global Holdings, LLC (“HGHI”), Ron Howell (“Howell”) and The Health Network, Inc. (“Health Network”). Howell and Health Network were the principal shareholders of the Company. Effective April 26, 2024, the parties closed the Reorganization Agreement. As part of the transaction, Howell and Health Network, the then majority shareholders of the Company delivered 1,634,738 shares of common stock of the Company to each of HPAF and HGHI. Further, as part of the transaction, the outstanding debt of $625,005 owed to Howell was purchased by HPAF and HGHI for $500,000. The debt was converted to equity and the Company issued to each of HPAF and HGHI 18,156,322 shares of newly-issued common stock, which, together with the transferred shares, represented approximately 95% of the outstanding equity of the Company. As a consequence, immediately subsequent to the close of the Reorganization Agreement, the Company has 41,561,226 shares of common stock outstanding.
Subsequent Event, Date	Apr. 24, 2024
Election of Directors
Subsequent Event, Description	Effective April 26, 2024 the Company announced the appointment of Mike Field and Jason Murphy as Directors of the Company.
Subsequent Event, Date	Apr. 26, 2024
Appointment of Officers
Subsequent Event, Description	Subsequently, the Directors appointed Mike Field as President and Acting CFO and Jason Murphy as CEO, Vice President and Secretary.
Notes Payable - Related Parties
Related Party Transaction, Description of Transaction	During the three months ended March 31, 2024, the Company received $2,000 in additional cash loans from Ronald R. Howell.
Increase (Decrease) in Due to Related Parties	$ 2,000
Revolving line of credit
Subsequent Event, Description	The Company entered a revolving line of credit on May 1, 2024 in the amount of $100,000 with HPAF and HGHI.
Subsequent Event, Date	May 01, 2024
Executive Offices
Related Party Transaction, Description of Transaction	The Company’s executive offices were located at 150 Research Dr., Hampton VA. These offices were leased by The Health Network, Inc. (“THN”), of which Ron Howell is President.
Howell Consulting Agreement
Related Party Transaction, Description of Transaction	The Company has been a party to 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 engage Mr. Howell as a consultant until his consulting services are no longer required.
Loans or advances from related party		$ 510,000
Related Party Transaction, Terms and Manner of Settlement	As part of the reorganization on April 24, 2024, Mr. Howell cancelled all outstanding debt obligations owed to him which was a total of $625,005, including the amounts and accumulated interest due under the consulting agreement referenced above.