Future Healthcare of America

CIK:0001552845|SEC Filings

Unaudited Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
REVENUE	$ 259,006	$ 377,565	$ 331,559	$ 1,319,998
COST OF GOODS SOLD - RELATED PARTY	9,266	295,034	42,826	720,070
COST OF GOODS SOLD	218,503	10,180	284,639	142,297
COST OF GOODS SOLD, TOTAL	227,269	305,214	327,465	862,367
GROSS MARGIN	31,237	72,350	4,094	457,631
OPERATING EXPENSES
Wages & Salaries	284,495	475,607	657,559	1,268,286
Selling, General & Administrative	1,533,564	1,272,264	4,179,035	3,291,730
Amortization, depreciation and impairment	6,093	83,584	281,891	167,168
Total operating expenses	1,824,152	1,831,455	5,118,485	4,727,184
LOSS FROM OPERATIONS	(1,792,915)	(1,759,105)	(5,114,391)	(4,269,553)
Interest expense	691	64,841	40,786	128,102
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(1,793,606)	(1,823,946)	(5,114,391)	(4,269,553)
Income taxes
INCOME FROM CONTINUING OPERATIONS	(1,793,606)	(1,823,946)	(5,155,177)	(4,397,655)
Discontinued operations (NOTE 13)
Gain on disposal of subsidiary			1,891,985
Loss from operations of discontinued Component	63,310	(119,136)	(18,311)	(1,214,837)
NET LOSS ATTRIBUTED TO MEMBERS	$ (1,730,296)	$ (1,943,082)	$ (3,281,503)	$ (5,612,492)
Basic loss per share	$ (0.01)	$ (0.02)	$ 0.00	$ (0.05)
Diluted loss per share	$ (0.01)	$ (0.02)	$ 0.00	$ (0.05)
COMPREHENSIVE INCOME
Net Loss	$ (1,730,296)	$ (1,943,082)	$ (3,281,503)	$ (5,612,492)
Other comprehensive income/(loss)	507,895		912,485
Comprehensive loss attributed to non-controlling interest	149,269		149,269
COMPREHENSIVE LOSS	$ (1,073,132)	$ (1,943,082)	$ (2,219,749)	$ (5,612,492)

Unaudited Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOW FROM OPERATING ACTIVITIES
Net Loss	$ (3,281,503)	$ (5,612,492)
Adjustments to reconcile net loss to net cash used in operating activities
Amortization, depreciation and impairment	281,241	108,432
Share Based Compensation	1,001,594
Gain on Disposal of Subsidiaries	(1,891,985)
Changes in:
- Accounts receivable	(909)	(10,923)
- Related party receivable	(249,976)	1,833
- Inventories	(765,927)	157,479
- Other current assets	(313,182)	39,262
- Accounts payable	203,334	657,525
- Accrued expenses	180,973	348,371
- Accrued expenses - related parties	(61,341)	629,049
Net cash used in operating activities	(4,897,681)	(3,686,484)
Net cash (used in) from operating activities - Discontinued operations	(63,136)	(292,864)
CASH FLOW FROM INVESTING ACTIVITIES
Net cash used in investing activities - Discontinued operations	51,165
CASH FLOW FROM FINANCING ACTIVITIES
Related party loan additions		2,499,250
Related party loan repayments		220,928
Cash received from subscription of Preferred Stock	3,843,851
Third party convertible note additions	575,915	184,393
Net cash provided from financing activities	4,419,766	2,904,571
Net cash from financing activities - Discontinued Operations
Effect of foreign exchange rate changes on cash and cash equivalents	454,647
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(35,239)	(1,074,777)
CASH AND CASH EQUIVALENTS beginning of period	128,364	1,082,734
CASH AND CASH EQUIVALENTS end of period	93,125	7,957
NON-CASH TRANSACTIONS
Preferred stock C issued for debt conversion	79
Common stock issued for debt conversion	11,973
Preferred stock A conversion	2,376
Preferred stock C conversion	78,832
Preferred stock B conversion	100,000
Non-controlling interest	256,071
Debt transferred from RP other liabilities to RP other notes payable	$ 672,370

Consolidated Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 93,125	$ 128,364
Accounts receivable	41,129	42,744
Related party receivable	250,000	1,833
Inventories	834,926	179,072
Other current assets	372,332	99,535
Current assets held for disposal	2,000	377,628
Total Current Assets	1,593,512	829,176
Non-Current Assets
Intangible asset	34,057	37,353
Fixed asset	56,539	523,510
Other asset		201,160
Non-current assets held for disposal		51,165
Total Non-Current Assets	90,596	813,188
TOTAL ASSETS	1,684,108	1,642,364
Current Liabilities
Accounts Payable	653,636	1,127,345
Accrued expenses & other contingent liabilities	60,026	583,161
Related party other liabilities	2,638,207	2,032,705
Related party other notes		1,072,849
Convertible note payable	581,235	1,600,710
Related party convertible note payable	2,984,217	11,671,743
Preferred Stock payable	3,843,851
Current liabilities held for disposal	104,333	887,126
Total Current Liabilities	10,865,505	18,975,639
TOTAL LIABILITIES	10,865,505	18,975,639
Stockholders' Equity
Common stock, $0.001 par value, 750,000,000 and 200,000,000 shares authorized as of September 30, 2019 and December 31, 2018, respectively. 322,230,038 and 129,049,192 issued and outstanding as of September 30, 2019 and December 31, 2018, respectively.	322,230	129,049
Additional Paid in Capital	15,463,095	5,174,269
Total Shareholders' deficit	(25,431,804)	(22,299,570)
Accumulated other comprehensive loss	575,360	(337,125)
Equity attributed to non-controlling interest	(110,280)
TOTAL EQUITY/(DEFICIT)	(9,181,397)	(17,333,274)
LIABILITIES AND MEMBERS' DEFICIT	1,684,108	1,642,364
Preferred stock A
Stockholders' Equity
Preferred stock	2	2
Preferred stock B
Stockholders' Equity
Preferred stock		100
Preferred stock C
Stockholders' Equity
Preferred stock
TOTAL EQUITY/(DEFICIT)