Helpful Alliance Co

CIK:0001561257|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2017	Dec. 31, 2016
REVENUES
Revenue		$ 144,795
Revenue, related party	235,213
TOTAL REVENUE	235,213	144,795
OPERATING EXPENSES
Compensation	642,062	707,841
Professional fees	207,922	146,886
Interest expense	118,017	120,879
Amortization of debt discount		434,182
Other selling, general and administrative	99,720	80,984
TOTAL OPERATING EXPENSES	1,067,721	1,490,772
LOSS FROM OPERATIONS	(832,508)	(1,345,977)
OTHER INCOME (LOSS)
Gain on debt settlement	572,091
Other income	26,160	116
Impairment loss on patent		(11,850)
TOTAL OTHER INCOME (LOSS)	598,251	(11,734)
NET LOSS	(234,257)	(1,357,711)
NET LOSS - ATTRIBUTABLE TO NON-CONTROLLING INTEREST		(50,093)
NET LOSS - ATTRIBUTABLE TO THE COMPANY	$ (234,257)	$ (1,307,618)
NET LOSS PER COMMON SHARE
Basic and diluted	$ (0.11)	$ (0.62)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:
Basic and diluted	2,100,000	2,100,000

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (234,257)	$ (1,357,711)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	140	280
Stock option compensation	1,846	1,661
Gain on debt settlement	(572,091)
Amortization of debt discount		434,182
Impairment loss on patent		11,850
Loss on investment – equity method	2,427
Gain on sale of Common membership interest of Seasons Creek	(2,427)
Changes in operating assets and liabilities:
Accounts receivable – related party	(8,928)
Note interest receivable		62,952
Notes receivable		411,000
Due from affiliate	(69,458)	507
Prepaid expenses and other current assets	(26,518)	(1,368)
Accounts payable	22,089	30,273
Accrued expenses	(15,685)	57,845
Accrued interest payable	93,118	(2,849)
Due to affiliate	1,000
Land development cost	(26,420)	(110,692)
Customer deposit liability – related party	37,920	4,000
Net cash used in operating activities	(797,244)	(458,070)
CASH FLOWS FROM INVESTING ACTIVITIES
Patent cost		(3,505)
Sale of trailer	1,703
Sale of 1 Common unit of Seasons Creek	20,000
Cash disposed of in deconsolidation	(742,251)
Net cash used in investing activities	(720,548)	(3,505)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable – related party	1,062,500	632,000
Proceeds from note payable		18,000
Repayment of note payable		(418,000)
Capital contribution – related party	2,007
Non-controlling interest	51,110
Cash overdraft	(174)	7,200
Repurchase of Series-X common stock		(90,000)
Proceeds from sale of non-controlling interest in Seasons Creek		500,000
Net cash provided by financing activities	1,115,443	649,200
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(402,349)	187,625
CASH - BEGINNING OF PERIOD	402,409	214,784
CASH - END OF PERIOD	60	402,409
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	26,194	123,727
Income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES
Settlement of debt for membership interests in deconsolidated subsidiary	1,000,000
Debt discount on note payable		434,182
Sale of notes receivable in satisfaction of notes payable		$ 200,000

Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash	$ 60	$ 402,409
Accounts receivable - related party	8,928
Prepaid expenses and other current assets	1,956	2,650
Total Current Assets	10,944	405,059
OTHER ASSETS:
Equipment, net		1,843
Land held for development		320,128
Security deposit on lease	2,602	2,602
Due from affiliate	69,458
Home model	6,126	1,900
Total Other Assets	78,186	326,743
TOTAL ASSETS	89,130	731,532
CURRENT LIABILITIES:
Accounts payable	90,757	80,232
Accrued expenses	57,979	73,664
Accrued interest payable	201,418	109,595
Customer deposit liability – related party	41,920	4,000
Due to affiliate	1,000
Cash overdraft	7,026	7,200
Note payable		600,000
Notes payable, related party	934,500	432,000
Convertible note payable		400,000
Total Current Liabilities	1,334,600	1,706,691
TOTAL LIABILITIES	1,334,600	1,706,691
COMMITMENTS AND CONTINGENCIES (NOTE 15)
STOCKHOLDERS’ DEFICIT:
Preferred stock ($0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding)
Common stock, ($0.001 par value; 200,000,000 shares authorized; 2,100,000 and 2,100,000 shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively)	2,100	2,100
Additional paid-in capital	1,289,447	1,285,594
Accumulated deficit	(2,543,623)	(2,309,366)
TOTAL Helpful Alliance Company STOCKHOLDERS’ DEFICIT	(1,245,470)	(1,015,066)
Non-controlling interest		39,907
TOTAL STOCKHOLDERS’ DEFICIT	(1,245,470)	(975,159)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	89,130	731,532
Series X Common Stock [Member]
STOCKHOLDERS’ DEFICIT:
Common stock, ($0.001 par value; 200,000,000 shares authorized; 2,100,000 and 2,100,000 shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively)	$ 6,606	$ 6,606