If the business wasn’t working well after burning so much cash closing it would be the wisest idea. The same scenario occurs in Healthier Choices Management’s (OTC: HCMC) group of assets. In 2021 due to strong competition in the vaping segment, the company had to close several vape stores.
Therefore in 2021 Healthier Choices had to face a significant $0.6 million decrease in net sales from operations, a $(0.3) decrease in net loss from operations while the company has not entered annual positive earnings territory yet. Nevertheless, total current assets rose to $28.8 million in 2021 compared to $3.0 million in 2020. Total current liabilities fell to $2.5 million for the year ended 2021 compared to $5.7 million.
Since the beginning of December 2020 HCMC stock has been trending and also promising investment opportunity but today we witness it fell to $0.0002 from 2020’s record-high $0.0024.