10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

[x]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019

or

[  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 

For the transition period from to

Commission file number 000-15303

HST Global, Inc.

(Exact name of registrant as specified in its charter)

Nevada	73-1215433
(State or other jurisdiction of incorporation or organization)	(I. R. S. Employer Identification No.)
150 Research Drive, Hampton, VA	23666
(Address of principal executive offices)	(Zip Code)

757-766-6100

(Registrant’s telephone number, including area code)

n/a

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [x]  No [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [  ]  No [x] 

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer  [  ]	Accelerated filer  [  ]
Non-accelerated filer  [ x ]	Smaller reporting company  [x] Emerging growth Company [  ]

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act).  Yes [  ]  No [x] 

The number of shares of the registrant’s common stock outstanding as of November 19, 2019 was 63,719,854 shares.

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TABLE OF CONTENTS

PART I	FINANCIAL INFORMATION	3
Item 1.	Financial Statements	4
	Condensed Balance Sheets (unaudited)	4
	Condensed Statements of Operations (unaudited)	5
	Condensed Statements of Shareholder Equity (Deficit) (unaudited)	6
	Condensed Statements of Cash Flow (unaudited)	7
	Notes to Condensed Financial Statements (unaudited)	8
Item 2.	Management’s Discussion and Analysis of Financial Conditions and Results of Operations	16
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	17
Item 4.	Controls and Procedures	18
PART II	OTHER INFORMATION	19
Item 1.	Legal Proceedings	19
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	19
Item 3.	Default Upon Senior Securities	19
Item 4.	Mine Safety Disclosures	19
Item 5.	Other Information	19
Item 6.	Exhibits	19
Signatures		20

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PART I – FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

HST GLOBAL, INC.

Condensed Balance Sheets

	September 30, 2019	December 31, 2018
	(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$16,950	$-
Prepaid Expenses	5,100	-
Total Current Assets	22,050	-
Total Assets	$22,050	$-
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Bank overdraft payable	$-	$2,957
Accounts payable and accrued expenses	-	3.228
Accounts payable and accrued expenses - related parties	-	505,959
Accrued officer compensation	-	1,110,000
Accrued related party interest	-	376,629
Notes payable - related party	-	1,372,169
Total Current Liabilities	-	3,370,942
Total Liabilities	-	3,370,942
Stockholders' Deficit
Preferred stock; 10,000,000 and 5,000,000 shares authorized, respectively, at $0.001 par value, - 0- shares issued and outstanding at September 30, 2019 and December 31, 2018 respectively	-	-
Common stock; 200,000,000 and 100,000,000 shares authorized, respectively, at $0.001 par value, 63,719,854 and 36,719,854 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	63,720	36,720
Additional paid-in capital	5,298,764	2,384,824
Accumulated deficit	(5,340,434)	(5,792,486)
Total Stockholders' Deficit	22,050	(3,370,942)
Total Liabilities and Stockholders' Deficit	$22,050	$-

The accompanying notes are an integral part of these unaudited condensed financial statements

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HST GLOBAL, INC.

Condensed Statements of Operations

(Unaudited)

	For the Three Months		For the Nine Months
	Ended September 30,		Ended September 30,
	2019	2018	2019	2018
REVENUES	$-	$-	$-	$-
OPERATING EXPENSES
Consulting	12,881	30,000	72,881	90,000
General and administrative	42,127	4,638	53,193	17,970
Total Operating Expenses	55,008	34,638	126,074	107,970
Loss from Operations	(55,008)	(34,638)	(126,074)	(107,970)
OTHER INCOME (EXPENSE)
Gain on extinguishment of debt	596,000	-	596,000	-
Interest expense	-	(8,937)	(17,874)	(26,811)
Total Other Income (Expense)	596,000	(8,937)	578,126	(26,811)
Income (Loss) Before Income Taxes	540,992	(43,575)	452,052	(134,781)
Provision for Income Taxes	-	-	-	-
NET INCOME (LOSS)	$540,992	$(43,575)	$452,052	$(134,781)
Basic and Diluted Gain or (Loss) Per Share	$0.01	$(0.00)	$0.01	$(0.00)
Basic and Diluted Weighted Average Number of Common Shares Outstanding	51,866,374	36,719,854	47,031,209	36,719,854

The accompanying notes are an integral part of these unaudited condensed financial statements

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HST Global, Inc.

Condensed Statements of Stockholders’ Deficit
(Unaudited)

	Preferred Stock		Common Stock		Additional Paid-in	Accumulated	Total Stockholder’s
	Shares	Amount	Shares	Amount	Capital	Deficit	Deficit
Balance, December 31, 2017	-	$-	36,719,854	$36,720	$2,384,824	$(5,614,151)	$(3,192,607)
Net loss	-	-	-	-	-	(46,814)	(46,814)
Balance, March 31, 2018	-	$-	36,719,854	$36,720	$2,384,824	$(5,660,965)	$(3,239,421)
Net loss	-	-	-	-	-	(44,393)	(44,393)
Balance, June 30, 2018	-	$-	36,719,854	$36,720	$2,384,824	$(5,705,357)	$(3,283,813)
Net loss		$-	-	-	-	(43,575)	(43,575)
Balance September 30, 2018		$-	36,719,854	36,720	$2,384,824	$(5,748,932)	$(3,327,388)
Balance, December 31, 2018	-	$-	36,719,854	$36,720	$2,384,824	$(5,792,486)	$(3,370,942)
Net loss	-	-	-	-	-	(45,245)	(45,245)
Balance, March 31, 2019	-	$-	36,719,854	$36,720	$2,384,824	$(5,837,731)	$(3,416,187)
Conversion of related Party debt			15,000,000	15,000	$2,479,976		$2,494,976
Net loss	-	-	-	-	-	(43,695)	(43,695)
Balance, June 30, 2019	-	$-	51,719,854	$51,720	4,864,800	$(5,881,426)	$(964,906)
Derecognition of related party debt	-	-	-	-	365,964	-	365,964
Common stock issued for cash	-	-	12,000,000	12,000	68,000	-	80,000
Net loss	-	-	-	-	-	540,992	540,992
Balance, September 30, 2019	-	$-	63,719,854	$63,720	$5,298,764	$(5,340,434)	$22,050

The accompanying notes are an integral part of these unaudited condensed financial statements

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HST GLOBAL, INC.

Condensed Statements of Cash Flows

(Unaudited)

	For the Nine Months Ended
	September 30,
	2019	2018
Operating Activities
Net income or (loss)	$452,052	$(134,781)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain on extinguishment of debt	(596,000)	-
Changes in operating assets and liabilities:
Prepaid Expense	(5,100)	-
Bank overdraft payable	(2,957)	1,387
Accounts payable and accrued expenses	(2,779)	(8)
Accrued officer compensation	60,000	90,000
Accrued related party interest	17,874	26,811
Net Cash Used in Operating Activities	(76,910)	(16,591)
Investing Activities
Net Cash Used in Investing Activities	-	-
Financing Activities
Proceeds from sale of common stock	80,000	-
Proceeds from notes payable - related party	13,860	16,300
Net Cash Provided by Financing Activities	93,860	16,300
Net Change in Cash and Cash Equivalents	16,950	(291)
Cash and Cash Equivalents at Beginning of Period	-	291
Cash and Cash Equivalents at End of Period	$16,950	$-
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$-	$-
Cash paid for taxes	$-	$-
Non-Cash Financing Activities:
Accounts payable and accrued expenses converted to common shares	$1,509680	$-
Notes payable and accrued interest converted to common shares	$985,296	$-
Extinguishment of related party liabilities	$365,964	$-

The accompanying notes are an integral part of these unaudited condensed financial statements

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HST GLOBAL, INC.

Notes to Condensed Financial Statements (Unaudited)

September 30, 2019

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.

The accompanying interim 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 generally accepted accounting principles. 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 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, 2018. The results of operations for the period ended September 30, 2019, are not necessarily indicative of the results for a full-year period.

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 – PROPOSED ASSET PURCHASE AGREEMENT

On June 26, 2019, the Company held a special meeting of shareholders based on the request of the Board of Directors.  A majority of  shareholders voted to approve and provide majority consent to authorize the officers of the Corporation to  (i) effect a reverse stock split of all the outstanding shares of the Corporation’s common stock at an exchange ratio of 1 post-split share for 15 pre-split shares (1:15); and (ii) amend the Corporation’s Articles of Incorporation with the State of Nevada to increase the number of authorized shares of common stock of the Corporation to 200,000,000 shares, and the number of authorized shares of preferred stock of the Corporation to 10,000,000 shares.  The reverse stock split is not effective as of the date the financial statements were issued.  The split has been applied for with FINRA and the Company is waiting for the Effective date to be granted by FINRA which will only become effective based on review by FINRA.

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On August 9, 2019, HST Global, Inc., a Nevada corporation (the “Company”), entered into an Asset Purchase Agreement (the “Agreement”) with Orbital Group, Inc., a Nevada corporation (the “Seller”) to purchase the Seller’s contract rights (the “Assets”) to a revenue sharing agreement (referred to herein as the “Acquisition”) between Orbital Group, Inc. (also referred to herein as “Seller” or “OGI”) and VeraClaim, Ltd. (referred to herein as “VeraClaim,”). Subject to the terms and conditions of the Agreement between VeraClaim, Ltd. and Orbital Group, Inc., Orbital Group, Inc has limited Rights to market the services and products known as and  based on the RevSource Platform and its associated products and services owned by VeraClaim, Ltd. in the Territory, which includes all countries of the world to potential clients in all countries of the world. VeraClaim, Ltd. has not sold, transferred or assigned to Orbital Group, Inc. intellectual and physical property relating to the RevSource Platform or any associated products or services.   

As of the date of this filing the Acquisition  has not been completed and is still subject to customary closing conditions and is expected to close on or around November 26, 2019. It is anticipated that prior to closing of the Acquisition, the Company will have been able to implement the change in its capital structure based on the approval of shareholders which was approved on June 26, 2019. Based on the terms of the Acquisition Terms the recapitalization is required to be declared effective to ensure that there are no more than 4,500,000 shares of post reverse split common stock outstanding immediately prior to closing the Acquisition.  At the closing of the Acquisition, the Company will pay to the Seller 19,500,000 post reverse split shares of Company common stock as the purchase price for the Assets.

The final closing of the transaction is pending based on final review by management to include a review of relative regulatory requirements and regulations regarding HIPAA, as well as compliance with cybersecurity regulations related to managing patient medical records and other due diligence items relating to the transaction.

NOTE 3 – 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 and 10-Q.  

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.

Accounting Method

The Company’s financial statements are prepared using the accrual method of accounting.  The Company has elected a December 31 year-end.

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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 September 30, 2019 and 2018.

Stock-Based Compensation

The Company adopted ASC 718, “Stock Compensation”, upon inception at August 6, 2007. Under ASC 718, all share-based payments to employees, including grants of employee stock options, are to be recognized in the income statement based on their fair values. As of  September 30, 2019, the Company has not issued any employer stock options.

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:

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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

ASC 842, Leases, was added by ASU 2016-02 on February 25, 2016, effective for fiscal periods beginning after December 15, 2018 and interim periods therein.  ASC 842 provides the requirements of financial accounting and reporting for lessees and lessors.  The Company has adopted ASC 842 on January 1, 2019 and has concluded that no adjustments were needed.

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 – 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 for a period of one year from the issuance of these 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.

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.

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NOTE 5 – RELATED PARTY TRANSACTIONS

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. The Company had agreed to continue to engage Mr. Howell as a consultant until his consulting services are no longer required. As of September 30, 2019, and December 31, 2018, the Company owed Mr. Howell $0 and $1,040,000, respectively based on the terms of the agreement entered into on June 28, 2019, in which Mr. Howell agreed to exchange this payable for restricted common stock as part of the conversion of all of the money owed to him and his affiliates.  The transaction included a total conversion amount of $2,494,976 exchanged for a total of 15,000,000 shares of common stock in a series of debt exchange transactions based on a pre-reverse split basis are as follows:

1.The Company issued 11,184,920 shares of restricted common shares to Ron Howell CEO for conversion of $1,860,407 owed to him by the Company for loans, consulting fees, reimbursements or other payables to equity in full payment of all obligations. 

2.The Company issued 3,639,592 shares of Common stock to The Health Network, Inc., a company controlled by Ron Howell, CEO of the Company for conversion of $605,379, the total amount of money owed to The Health Network, Inc. by the Company for loans, fees, reimbursements or other payables in full payment of all obligations. 

3.The Company issued 116,996 shares of Common stock of HST Global, Inc. shares of Common stock to LIFT, LLC., a company controlled by Ron Howell, CEO of the Company to convert $19,460 the total amount of money owed to LIFT, LLC by the Company for loans, fees, reimbursements or other payables in full payment of all obligations. 

4.The Company issued 58,492 shares of Common stock of HST Global, Inc shares of restricted Common stock to Biolifecycle, LLC., a company controlled by Ron Howell, CEO of the Company to convert $9,729 the total amount of money owed to Biolifecycle, LLC by the Company for loans, fees, reimbursements or other payables in full payment of all obligations. 

The value of the shares based on the trading price on June 26, 2019 was $130,000. The Company determined the difference between the debt calculated and the value of the shares, $2,359,975 was a capital transaction and was recorded in Additional Paid in Capital due to the related party nature of the transactions.

Declassification of Related Party Debt

After a review of certain debt of the Company owed to third parties, the Board of Directors determined that that debt should be declassified as a liability of the Company.  The Board considered the accounting guidance under ASC 405-20-40-1, reviewing PCAOB publications and advice of legal counsel.

The Board  considered the laws of all states associated with the debt and payables and determined that the law of the state of Nevada as jurisdiction for determining the support for declassification of debt, which is the longest statute of limitations for written contracts relating to HST Global, Inc. The Board and its legal

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counsel determined based on receipt of an opinion of its counsel  that all of the Obligations are unenforceable and therefore should be decalcified as a liability of the Company.  In addition, it was agreed that any applicable court would grant a judgment that the obligations are extinguished as was determined that there are no circumstances which would result in tolling of any of the Obligations.

Further based on the information provided to legal counsel by the company, the legal opinion stated that due to the running of applicable statutes of limitations, the Obligations are unenforceable.

As a result, the Directors by unanimous written consent pursuant to the authority contained in the Nevada Corporations Code the Board of Directors approved the “declassification” of certain debt that legal counsel has advised has become uncollectible by the parties. The Board has determined that it is in the best interest of the company to provide a clearer statement of financial condition and no longer retain these debt obligations as current and remove them from our financial statements.

Debt obligations owed by the following were declassified as debt and were written off. The declassified debt included: (i) accrued former officer compensation pursuant to a consulting arrangement dated October 1, 2007 of $70,000; (ii) accounts payable for amounts due prior to 2010 in the amount of approximately $96,728; (iii) subscription for securities dated May 13, 2008 stock and a promissory note in the amount of $200,000 as the obligation was extinguished by a third party; (iv) a promissory Note dated November 25, 2009 for $200,000; (v) a promissory Note dated May 7, 2008 and due June 20, 2008 for $100,000, together with accrued loan penalties of approximately $50,000; (vi) certain stockholder loans prior to 2010 for approximately $121,300; (vii) accrued related party interest for obligations prior to 2010 for $77,176; and (viii) accrued former related party interest for obligations prior to 2010 by other offices of approximately $46,000. Of the $961,204 in extinguished debt and payables, the company realized a total gain of $596,000, and has recorded $365,204 as additional paid in capital for related parties.

NOTE 6 – COMMON STOCK

On June 26, 2019, the Company held a special meeting of shareholders based on the request of the Board of Directors.  A majority of  shareholders voted to approve and provide majority consent to authorize the officers of the Corporation to  (i) effect a reverse stock split of all the outstanding shares of the Corporation’s common stock at an exchange ratio of 1 post-split share for 15 pre-split shares (1:15); and (ii) amend the Corporation’s Articles of Incorporation with the State of Nevada to increase the number of authorized shares of common stock of the Corporation to 200,000,000 shares, and the number of authorized shares of preferred stock of the Corporation to 10,000,000 shares.  As a result of this action and as authorized the officers of the Corporation determined that the Company was required to file a Notice of Corporate Action with FINRA. The filing with FINRA was made on November 6, 2019 the Company filed a Related Company Corporate Action Notification of this corporate actions. The reverse stock split has not been declared effective as of the issuance of these financial statements.

As stated in Note 5, a total of 15,000,000 shares of common stock were issued to the Company’s CEO and entities controlled by him in consideration for the extinguishment of $2,494,976 in debt and payables.  

In the three months period from July 1, 2019 to September 30, 2019, the company agreed to issue 12,000,000 shares of pre-split common stock for proceeds of $80,000 in a private placement. The securities were agreed to be issued to investors in reliance upon the exemption from registration

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requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering.

The securities described above were issued to investors in reliance upon the exemption from registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering. No commissions were paid and no agreements to register shares were offered in the private placements. All Purchasers of shares described above represented to us in connection with their purchase that they were accredited investors and were acquiring the shares for their own account for investment purposes only and not with a view to, or for sale in connection with, any distribution thereof. The purchasers received written disclosures that the securities had not been registered under the Securities Act and that any resale must be made pursuant to a registration statement or an available exemption from such registration.

As of September 30, 2019, there were 63,719,854 shares of our common stock issued and outstanding. Subject to preferences that may be applicable to any preferred stock outstanding at the time, the holders of common stock are entitled to receive dividends out of legally available assets at such times and in such amounts as our Board of Directors may from time to time determine. There are no Preferred shares issued at the time of this filing. Each stockholder is entitled to one vote for each share of common stock held on all matters submitted to a vote of stockholders. Cumulative voting for the election of directors is not authorized.

Our common stock is not subject to conversion or redemption and holders of common stock are not entitled to preemptive rights. Upon the liquidation, dissolution or winding up of the Company, the remaining assets legally available for distribution to stockholders, after payment of claims of creditors and payment of liquidation preferences, if any, on outstanding preferred stock, are distributable ratably among the holders of common stock and any participating preferred stock outstanding at that time. Each outstanding share of common stock is fully paid and non-assessable. Our Board of Directors has the authority to issue authorized but unissued shares of common stock without any action by our stockholders.

The securities described above were issued to investors in reliance upon the exemption from the registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering.

NOTE 7 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report.  There are no material subsequent events to report.

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ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the information contained in the condensed financial statements of the Company and the notes thereto appearing elsewhere herein.  As used in this report, the terms "Company", "we", "our", "us" and "HSTC" refer to HST Global, Inc.

Preliminary Note Regarding Forward-Looking Statements

This quarterly report contains forward-looking statements within the meaning of the federal securities laws. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "HSTC believes," "management believes" and similar language. The forward-looking statements are based on the current expectations of HSTC and are subject to certain risks, uncertainties and assumptions, including those set forth in the discussion under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this report. The actual results may differ materially from results anticipated in these forward-looking statements. We base the forward-looking statements on information currently available to us, and we assume no obligation to update them.  Investors are also advised to refer to the information in our filings with the Securities and Exchange Commission, especially on Forms 10-K, 10-Q and 8-K, in which we discuss in more detail various important factors that could cause actual results to differ from expected or historic results. It is not possible to foresee or identify all such factors. As such, investors should not consider any list of such factors to be an exhaustive statement of all risks and uncertainties or potentially inaccurate assumptions.

Critical Accounting Policies and Estimates

Our financial statements and related public financial information are based on the application of accounting principles generally accepted in the United States ("US GAAP"). US GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenues and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to GAAP and are consistently and conservatively applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.

Results of Operations – The Three Months Ended September 30, 2019 as Compared to the Three Months Ended September 30, 2018

The Company had no revenues or costs of sales during 2019 or 2018. The Company realized net income of $540,992 for the quarter ended September 30, 2019 as compared to a net loss of $43,575 for the quarter ended September 30, 2018. The increase in net income of $584,567 for the 3rd quarter of 2019 is attributable to a gain of $596,000 as a result of declassification of debt and accounts payable. Operating expense were $55,008 for the period ended September 30, 2019 as compared to $34,638 at September 30, 2018. The expenses in the 3rd quarter 2019 were the result of added working capital obtained in a private placement and the use of those funds to further the company’s General and Administrative/Consulting

Page 15

efforts and continue the company’s strategic plans.  Until the Company obtains capital required to develop the opportunities in development to build obtain the revenues needed from its future operations to meet its obligations, the Company will be dependent upon sources other than operating revenues to meet its operating and capital needs. Operating revenues may never satisfy these needs.

Results of Operations – The Nine Months Ended September 30, 2019 as Compared to the Nine Months Ended September 30, 2018

The Company had no revenues or costs of sales for the nine month periods of 2019 or 2018. The Company incurred net income of $452,052  for the nine months ended September 30, 2019 as compared to a net loss of $134,781  for the nine months ended September 30, 2018.  This represents a $586,833 increase in the net income, which is attributable to a gain of $596,000 as a result of declassification of debt and accounts payable. The operating expenses in the first three quarters of 2019 were $126,074 versus $107,970 for the same period in 2018.  The increase was based on the additional working capital available and were incurred to further the company’s strategic plans of developing and expanding the new lines of business that have been under development by management and third party consultants.  Until the Company obtains capital required to develop new properties or businesses and builds  the revenues needed from its future operations to meet its obligations, the Company will be dependent upon sources other than operating revenues to meet its operating and capital needs. Operating revenues may never satisfy these needs.

Liquidity and Capital Resources

Operating Activities.  

Our cash balance as of September 30, 2019 was $16,950, with an overdraft balance of $2,975  on December 31, 2018.

Financing Activities.

The Company has paid for its operations through proceeds of $80,000 in the period of July 1, 2019 to September 30, 2019  from the private placement to unrelated third parties related parties, in addition to $13,860 received from related party notes payable. In the nine months ended September 30, 2018 the company received advances in the form of loans from related parties in an amount of $16,300.

The Company does not currently have sufficient capital in its accounts, nor sufficient firm commitments for capital to assure its ability to meet its current obligations or to continue its planned operations. The Company is continuing to pursue working capital and additional revenue through the seeking of the capital it needs to carry on its planned operations. There is no assurance that any of the planned activities will be successful.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

None.

Page 16

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

Our Chief Executive Officer and Interim Chief Financial Officer (the "Certifying Officer") maintains a system of disclosure controls and procedures that is designed to provide reasonable assurance that information, which is required to be disclosed, is accumulated and communicated to management timely. Under the supervision and with the participation of management, the Certifying Officer evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule [13a-14(c)/15d-14(c)] under the Exchange Act) within 45 days prior to the filing date of this report. Based upon that evaluation, the Certifying Officer concluded that our disclosure controls and procedures are not effective in timely alerting them to material information relative to our company required to be disclosed in our periodic filings with the SEC.

Changes in Internal Controls

During the Quarter ended September 30, 2019, there were no changes made to our internal controls over financial reporting that are reasonably likely to affect the reliability of those controls, or the accuracy of our financial reporting.  

Page 17

PART II: OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

In the three months period from July 1, 2019 to September 30, 2019, the company agreed to issue 12,000,000 shares for proceeds of $80,000 in a private placement. The securities were issued to investors in reliance upon the exemption from registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering.

The proceeds of this offering were used for general working capital purposes, which included the cost of due diligence on opportunities to expand the Company’s health care related business focus. Funds were used to pay the cost of using outside consultants to do analysis of expansion opportunities and to advise the company on operating procedures. The Company does plan on raising additional capital for working capital and for investment in new business operations.  

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4.  MINE SAFETY DISCLOSURES

None.

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.  EXHIBITS

The following exhibits are filed as part of this quarterly report on Form 10-Q:

Exhibit No.	Description
31.1	Certification by the Chief Executive Officer of Competitive Technologies, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Rule 13a-14(a) or Rule 15d-14(a)).
31.2	Certification by the Chief Financial Officer of Competitive Technologies, Inc. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Rule 13a-14(a) or Rule 15d-14(a)).
32.1	Certification by the Chief Executive Officer of Competitive Technologies, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
32.2	Certification by the Chief Financial Officer of Competitive Technologies, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
101	Interactive Data Files

Page 18

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: November 19, 2019	HST GLOBAL, INC.
	(the registrant)
	By:	\s\ Ron Howell
	Ron Howell
	Chief Executive Officer
	Interim Chief Financial Officer

Page 19

EX-31

Exhibit 31.1

CERTIFICATIONS

I, Ron Howell certify that:

1.I have reviewed this Report on Form 10-Q of HST Global, Inc. (the “Company”) for the period ending September 30, 2019; 

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report; 

4.I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and have: 

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; 

(b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; 

(c)evaluated the effectiveness of the Company’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and 

(d)disclosed in this report any change in the Company’s internal control over financial reporting that occurred during the Company’s most recent fiscal quarter (the Company’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. 

5.I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the Company’s auditors and the audit committee of the Company’s Board of Directors (or persons performing the equivalent functions): 

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; and 

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting. 

Dated: November 19, 2019	By:	\s\ Ron Howell
	Ron Howell
	Chief Executive Officer

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Fair Value of Financial Instruments (Policies)

9 Months Ended

Sep. 30, 2019

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.

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NOTE 6 - COMMON STOCK (Details) - USD ($)	3 Months Ended
	Sep. 30, 2019	Jun. 28, 2019
Details
Shares, Issued		15,000,000
Stock Issued During Period, Shares, New Issues	12,000,000
Common stock issued for cash	$ 80,000

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NOTE 7 - SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2019

Notes

NOTE 7 - SUBSEQUENT EVENTS

NOTE 7 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report.  There are no material subsequent events to report.

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies)

9 Months Ended

Sep. 30, 2019

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.

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Condensed Consolidated Balance Sheets - Parenthetical - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Details
Preferred Stock, Shares Authorized	10,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Shares Authorized	200,000,000	100,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	63,719,854	36,719,854
Common Stock, Shares, Outstanding	63,719,854	36,719,854

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NOTE 1 - ORGANIZATION AND PRINCIPAL ACTIVITIES

9 Months Ended

Sep. 30, 2019

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.

The accompanying interim 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 generally accepted accounting principles. 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 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, 2018. The results of operations for the period ended September 30, 2019, are not necessarily indicative of the results for a full-year period.

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.

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NOTE 6 - COMMON STOCK

9 Months Ended

Sep. 30, 2019

Notes

NOTE 6 - COMMON STOCK

NOTE 6 – COMMON STOCK

On June 26, 2019, the Company held a special meeting of shareholders based on the request of the Board of Directors.  A majority of  shareholders voted to approve and provide majority consent to authorize the officers of the Corporation to  (i) effect a reverse stock split of all the outstanding shares of the Corporation’s common stock at an exchange ratio of 1 post-split share for 15 pre-split shares (1:15); and (ii) amend the Corporation’s Articles of Incorporation with the State of Nevada to increase the number of authorized shares of common stock of the Corporation to 200,000,000 shares, and the number of authorized shares of preferred stock of the Corporation to 10,000,000 shares.  As a result of this action and as authorized the officers of the Corporation determined that the Company was required to file a Notice of Corporate Action with FINRA. The filing with FINRA was made on November 6, 2019 the Company filed a Related Company Corporate Action Notification of this corporate actions. The reverse stock split has not been declared effective as of the issuance of these financial statements.

As stated in Note 5, a total of 15,000,000 shares of common stock were issued to the Company’s CEO and entities controlled by him in consideration for the extinguishment of $2,494,976 in debt and payables.  

In the three months period from July 1, 2019 to September 30, 2019, the company agreed to issue 12,000,000 shares of pre-split common stock for proceeds of $80,000 in a private placement. The securities were agreed to be issued to investors in reliance upon the exemption from registration

requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering.

The securities described above were issued to investors in reliance upon the exemption from registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering. No commissions were paid and no agreements to register shares were offered in the private placements. All Purchasers of shares described above represented to us in connection with their purchase that they were accredited investors and were acquiring the shares for their own account for investment purposes only and not with a view to, or for sale in connection with, any distribution thereof. The purchasers received written disclosures that the securities had not been registered under the Securities Act and that any resale must be made pursuant to a registration statement or an available exemption from such registration.

As of September 30, 2019, there were 63,719,854 shares of our common stock issued and outstanding. Subject to preferences that may be applicable to any preferred stock outstanding at the time, the holders of common stock are entitled to receive dividends out of legally available assets at such times and in such amounts as our Board of Directors may from time to time determine. There are no Preferred shares issued at the time of this filing. Each stockholder is entitled to one vote for each share of common stock held on all matters submitted to a vote of stockholders. Cumulative voting for the election of directors is not authorized.

Our common stock is not subject to conversion or redemption and holders of common stock are not entitled to preemptive rights. Upon the liquidation, dissolution or winding up of the Company, the remaining assets legally available for distribution to stockholders, after payment of claims of creditors and payment of liquidation preferences, if any, on outstanding preferred stock, are distributable ratably among the holders of common stock and any participating preferred stock outstanding at that time. Each outstanding share of common stock is fully paid and non-assessable. Our Board of Directors has the authority to issue authorized but unissued shares of common stock without any action by our stockholders.

The securities described above were issued to investors in reliance upon the exemption from the registration requirements of the Securities Act, as set forth in Section 4(2) under the Securities Act and Regulation D promulgated thereunder relating to transactions by an issuer not involving any public offering.

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Accounting Method (Policies)

9 Months Ended

Sep. 30, 2019

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.

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Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 16,950	$ 0
Total Current Assets	22,050	0
Total Assets	22,050	0
Current Liabilities
Bank overdraft payable	0	2,957
Accounts payable and accrued expenses	0	3.228
Accounts payable and accrued expenses - related parties	0	505,959
Accrued officer compensation	0	1,110,000
Accrued related party interest	0	376,629
Notes payable - related party	0	1,372,169
Total Current Liabilities	0	3,370,942
Total Liabilities	0	3,370,942
Stockholders' Deficit
Preferred stock; 10,000,000 and 5,000,000 shares authorized, respectively, at $0.001 par value, - 0- shares issued and outstanding at September 30, 2019 and December 31, 2018 respectively	0	0
Common stock; 200,000,000 and 100,000,000 shares authorized, respectively, at $0.001 par value, 63,719,854 and 36,719,854 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively	63,720	36,720
Additional paid-in capital	5,298,764	2,384,824
Accumulated deficit	(5,340,434)	(5,792,486)
Total Stockholders' Deficit	22,050	(3,370,942)
Total Liabilities and Stockholders' Deficit	$ 22,050	$ 0

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Condensed Consolidated Statements of Cash Flows	9 Months Ended
	Sep. 30, 2018 USD ($)
Operating Activities
Net income or (loss)	$ (134,781)
Changes in operating assets and liabilities:
Bank overdraft payable	1,387
Accounts payable and accrued expenses	(8)
Accrued officer compensation	90,000
Accrued related party interest	26,811
Net Cash Used in Operating Activities	(16,591)
Investing Activities
Net Cash Used in Investing Activities	0
Financing Activities
Proceeds from notes payable - related party	16,300
Net Cash Provided by Financing Activities	16,300
Net Change in Cash and Cash Equivalents	(291)
Gain on extinguishment of debt	0
Prepaid Expense	0
Cash and Cash Equivalents at Beginning of Period	291
Cash and Cash Equivalents at End of Period	0
Cash paid for interest	0
Cash paid for taxes	$ 0

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Stock-Based Compensation (Policies)

9 Months Ended

Sep. 30, 2019

Policies

Stock-Based Compensation

Stock-Based Compensation

The Company adopted ASC 718, “Stock Compensation”, upon inception at August 6, 2007. Under ASC 718, all share-based payments to employees, including grants of employee stock options, are to be recognized in the income statement based on their fair values. As of  September 30, 2019, the Company has not issued any employer stock options.

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NOTE 5 - RELATED PARTY TRANSACTIONS (Details)	9 Months Ended
	Sep. 30, 2019
Howell Consulting Agreement
Related Party Transaction, Description of Transaction	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. The Company had agreed to continue to engage Mr. Howell as a consultant until his consulting services are no longer required.
Related Party Transaction, Terms and Manner of Settlement	As of September 30, 2019, and December 31, 2018, the Company owed Mr. Howell $0 and $1,040,000, respectively based on the terms of the agreement entered into on June 28, 2019, in which Mr. Howell agreed to exchange this payable for restricted common stock
Howell Conversion
Related Party Transaction, Description of Transaction	The Company issued 11,184,920 shares of restricted common shares to Ron Howell CEO for conversion of $1,860,407 owed to him by the Company for loans, consulting fees, reimbursements or other payables to equity in full payment of all obligations.
THN Conversion
Related Party Transaction, Description of Transaction	The Company issued 3,639,592 shares of Common stock to The Health Network, Inc., a company controlled by Ron Howell, CEO of the Company for conversion of $605,379, the total amount of money owed to The Health Network, Inc. by the Company for loans, fees, reimbursements or other payables in full payment of all obligations.
LIFT Conversion
Related Party Transaction, Description of Transaction	The Company issued 116,996 shares of Common stock of HST Global, Inc. shares of Common stock to LIFT, LLC., a company controlled by Ron Howell, CEO of the Company to convert $19,460 the total amount of money owed to LIFT, LLC by the Company for loans, fees, reimbursements or other payables in full payment of all obligations.
Biolifecycle Conversion
Related Party Transaction, Description of Transaction	The Company issued 58,492 shares of Common stock of HST Global, Inc shares of restricted Common stock to Biolifecycle, LLC., a company controlled by Ron Howell, CEO of the Company to convert $9,729 the total amount of money owed to Biolifecycle, LLC by the Company for loans, fees, reimbursements or other payables in full payment of all obligations.

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies)

9 Months Ended

Sep. 30, 2019

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.

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NOTE 4 - GOING CONCERN

9 Months Ended

Sep. 30, 2019

Notes

NOTE 4 - GOING CONCERN

NOTE 4 – 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 for a period of one year from the issuance of these 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.

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.

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
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 and 10-Q.

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NOTE 2 - PROPOSED ASSET PURCHASE AGREEMENT

9 Months Ended

Sep. 30, 2019

Notes

NOTE 2 - PROPOSED ASSET PURCHASE AGREEMENT

NOTE 2 – PROPOSED ASSET PURCHASE AGREEMENT

On June 26, 2019, the Company held a special meeting of shareholders based on the request of the Board of Directors.  A majority of  shareholders voted to approve and provide majority consent to authorize the officers of the Corporation to  (i) effect a reverse stock split of all the outstanding shares of the Corporation’s common stock at an exchange ratio of 1 post-split share for 15 pre-split shares (1:15); and (ii) amend the Corporation’s Articles of Incorporation with the State of Nevada to increase the number of authorized shares of common stock of the Corporation to 200,000,000 shares, and the number of authorized shares of preferred stock of the Corporation to 10,000,000 shares.  The reverse stock split is not effective as of the date the financial statements were issued.  The split has been applied for with FINRA and the Company is waiting for the Effective date to be granted by FINRA which will only become effective based on review by FINRA.

On August 9, 2019, HST Global, Inc., a Nevada corporation (the “Company”), entered into an Asset Purchase Agreement (the “Agreement”) with Orbital Group, Inc., a Nevada corporation (the “Seller”) to purchase the Seller’s contract rights (the “Assets”) to a revenue sharing agreement (referred to herein as the “Acquisition”) between Orbital Group, Inc. (also referred to herein as “Seller” or “OGI”) and VeraClaim, Ltd. (referred to herein as “VeraClaim,”). Subject to the terms and conditions of the Agreement between VeraClaim, Ltd. and Orbital Group, Inc., Orbital Group, Inc has limited Rights to market the services and products known as and  based on the RevSource Platform and its associated products and services owned by VeraClaim, Ltd. in the Territory, which includes all countries of the world to potential clients in all countries of the world. VeraClaim, Ltd. has not sold, transferred or assigned to Orbital Group, Inc. intellectual and physical property relating to the RevSource Platform or any associated products or services.   

As of the date of this filing the Acquisition  has not been completed and is still subject to customary closing conditions and is expected to close on or around November 26, 2019. It is anticipated that prior to closing of the Acquisition, the Company will have been able to implement the change in its capital structure based on the approval of shareholders which was approved on June 26, 2019. Based on the terms of the Acquisition Terms the recapitalization is required to be declared effective to ensure that there are no more than 4,500,000 shares of post reverse split common stock outstanding immediately prior to closing the Acquisition.  At the closing of the Acquisition, the Company will pay to the Seller 19,500,000 post reverse split shares of Company common stock as the purchase price for the Assets.

The final closing of the transaction is pending based on final review by management to include a review of relative regulatory requirements and regulations regarding HIPAA, as well as compliance with cybersecurity regulations related to managing patient medical records and other due diligence items relating to the transaction.

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Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Details
Revenues	$ 0	$ 0	$ 0
Operating Expenses
Consulting	30,000	72,881	90,000
General and administrative	4,638	53,193	17,970
Total Operating Expenses	34,638	126,074	107,970
Loss from Operations	(34,638)	(126,074)	(107,970)
Other INCOME (Expense)
Interest expense	(8,937)	(17,874)	(26,811)
Total Other Income (Expense)	(8,937)	578,126	(26,811)
Gain on extinguishment of debt	0	596,000	0
Income (Loss) Before Income Taxes	(43,575)	452,052	(134,781)
Provision for Income Taxes	0	0	0
Net income (loss)	$ (43,575)	$ 452,052	$ (134,781)
Basic and Diluted Gain or (Loss) Per Share	$ (0.00)	$ 0.01	$ (0.00)
Basic and Diluted Weighted Average Number of Common Shares Outstanding	36,719,854	47,031,209	36,719,854

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Pronouncements (Policies)

9 Months Ended

Sep. 30, 2019

Policies

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

ASC 842, Leases, was added by ASU 2016-02 on February 25, 2016, effective for fiscal periods beginning after December 15, 2018 and interim periods therein.  ASC 842 provides the requirements of financial accounting and reporting for lessees and lessors.  The Company has adopted ASC 842 on January 1, 2019 and has concluded that no adjustments were needed.

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.

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NOTE 5 - RELATED PARTY TRANSACTIONS: Extinguishment of debt Policy (Policies)

9 Months Ended

Sep. 30, 2019

Policies

Extinguishment of debt Policy

Declassification of Related Party Debt

After a review of certain debt of the Company owed to third parties, the Board of Directors determined that that debt should be declassified as a liability of the Company.  The Board considered the accounting guidance under ASC 405-20-40-1, reviewing PCAOB publications and advice of legal counsel.

The Board  considered the laws of all states associated with the debt and payables and determined that the law of the state of Nevada as jurisdiction for determining the support for declassification of debt, which is the longest statute of limitations for written contracts relating to HST Global, Inc. The Board and its legal

counsel determined based on receipt of an opinion of its counsel  that all of the Obligations are unenforceable and therefore should be decalcified as a liability of the Company.  In addition, it was agreed that any applicable court would grant a judgment that the obligations are extinguished as was determined that there are no circumstances which would result in tolling of any of the Obligations.

Further based on the information provided to legal counsel by the company, the legal opinion stated that due to the running of applicable statutes of limitations, the Obligations are unenforceable.

As a result, the Directors by unanimous written consent pursuant to the authority contained in the Nevada Corporations Code the Board of Directors approved the “declassification” of certain debt that legal counsel has advised has become uncollectible by the parties. The Board has determined that it is in the best interest of the company to provide a clearer statement of financial condition and no longer retain these debt obligations as current and remove them from our financial statements.

Debt obligations owed by the following were declassified as debt and were written off. The declassified debt included: (i) accrued former officer compensation pursuant to a consulting arrangement dated October 1, 2007 of $70,000; (ii) accounts payable for amounts due prior to 2010 in the amount of approximately $96,728; (iii) subscription for securities dated May 13, 2008 stock and a promissory note in the amount of $200,000 as the obligation was extinguished by a third party; (iv) a promissory Note dated November 25, 2009 for $200,000; (v) a promissory Note dated May 7, 2008 and due June 20, 2008 for $100,000, together with accrued loan penalties of approximately $50,000; (vi) certain stockholder loans prior to 2010 for approximately $121,300; (vii) accrued related party interest for obligations prior to 2010 for $77,176; and (viii) accrued former related party interest for obligations prior to 2010 by other offices of approximately $46,000. Of the $961,204 in extinguished debt and payables, the company realized a total gain of $596,000, and has recorded $365,204 as additional paid in capital for related parties.

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NOTE 5 - RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2019

Notes

NOTE 5 - RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

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. The Company had agreed to continue to engage Mr. Howell as a consultant until his consulting services are no longer required. As of September 30, 2019, and December 31, 2018, the Company owed Mr. Howell $0 and $1,040,000, respectively based on the terms of the agreement entered into on June 28, 2019, in which Mr. Howell agreed to exchange this payable for restricted common stock as part of the conversion of all of the money owed to him and his affiliates.  The transaction included a total conversion amount of $2,494,976 exchanged for a total of 15,000,000 shares of common stock in a series of debt exchange transactions based on a pre-reverse split basis are as follows:

1.The Company issued 11,184,920 shares of restricted common shares to Ron Howell CEO for conversion of $1,860,407 owed to him by the Company for loans, consulting fees, reimbursements or other payables to equity in full payment of all obligations. 

2.The Company issued 3,639,592 shares of Common stock to The Health Network, Inc., a company controlled by Ron Howell, CEO of the Company for conversion of $605,379, the total amount of money owed to The Health Network, Inc. by the Company for loans, fees, reimbursements or other payables in full payment of all obligations. 

3.The Company issued 116,996 shares of Common stock of HST Global, Inc. shares of Common stock to LIFT, LLC., a company controlled by Ron Howell, CEO of the Company to convert $19,460 the total amount of money owed to LIFT, LLC by the Company for loans, fees, reimbursements or other payables in full payment of all obligations. 

4.The Company issued 58,492 shares of Common stock of HST Global, Inc shares of restricted Common stock to Biolifecycle, LLC., a company controlled by Ron Howell, CEO of the Company to convert $9,729 the total amount of money owed to Biolifecycle, LLC by the Company for loans, fees, reimbursements or other payables in full payment of all obligations. 

The value of the shares based on the trading price on June 26, 2019 was $130,000. The Company determined the difference between the debt calculated and the value of the shares, $2,359,975 was a capital transaction and was recorded in Additional Paid in Capital due to the related party nature of the transactions.

Declassification of Related Party Debt

After a review of certain debt of the Company owed to third parties, the Board of Directors determined that that debt should be declassified as a liability of the Company.  The Board considered the accounting guidance under ASC 405-20-40-1, reviewing PCAOB publications and advice of legal counsel.

The Board  considered the laws of all states associated with the debt and payables and determined that the law of the state of Nevada as jurisdiction for determining the support for declassification of debt, which is the longest statute of limitations for written contracts relating to HST Global, Inc. The Board and its legal

counsel determined based on receipt of an opinion of its counsel  that all of the Obligations are unenforceable and therefore should be decalcified as a liability of the Company.  In addition, it was agreed that any applicable court would grant a judgment that the obligations are extinguished as was determined that there are no circumstances which would result in tolling of any of the Obligations.

Further based on the information provided to legal counsel by the company, the legal opinion stated that due to the running of applicable statutes of limitations, the Obligations are unenforceable.

As a result, the Directors by unanimous written consent pursuant to the authority contained in the Nevada Corporations Code the Board of Directors approved the “declassification” of certain debt that legal counsel has advised has become uncollectible by the parties. The Board has determined that it is in the best interest of the company to provide a clearer statement of financial condition and no longer retain these debt obligations as current and remove them from our financial statements.

Debt obligations owed by the following were declassified as debt and were written off. The declassified debt included: (i) accrued former officer compensation pursuant to a consulting arrangement dated October 1, 2007 of $70,000; (ii) accounts payable for amounts due prior to 2010 in the amount of approximately $96,728; (iii) subscription for securities dated May 13, 2008 stock and a promissory note in the amount of $200,000 as the obligation was extinguished by a third party; (iv) a promissory Note dated November 25, 2009 for $200,000; (v) a promissory Note dated May 7, 2008 and due June 20, 2008 for $100,000, together with accrued loan penalties of approximately $50,000; (vi) certain stockholder loans prior to 2010 for approximately $121,300; (vii) accrued related party interest for obligations prior to 2010 for $77,176; and (viii) accrued former related party interest for obligations prior to 2010 by other offices of approximately $46,000. Of the $961,204 in extinguished debt and payables, the company realized a total gain of $596,000, and has recorded $365,204 as additional paid in capital for related parties.

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Interim Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2019
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.

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES: Basic and Diluted Income (Loss) Per Share (Policies)

9 Months Ended

Sep. 30, 2019

Policies

Basic and Diluted Income (Loss) Per Share

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 September 30, 2019 and 2018.

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Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Aug. 19, 2019
Details
Registrant CIK	0000797564
Fiscal Year End	--12-31
Registrant Name	HST Global, Inc.
SEC Form	10-Q
Period End date	Sep. 30, 2019
Tax Identification Number (TIN)	73-1215433
Number of common stock shares outstanding		63,719,854
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Shell Company	false
Small Business	true
Emerging Growth Company	false
Entity File Number	000-15303
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	150 Research Drive
Entity Address, City or Town	Hampton
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23666
City Area Code	757
Local Phone Number	766-6100
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false

XML

Condensed Consolidated Statements of Stockholders' Deficit - USD ($)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Parent
Balance, March 31, 2019		$ 36,720	$ 2,384,824	$ (5,792,486)	$ (3,370,942)
Balance, June 30, 2019		36,720	2,384,824	(5,792,486)	(3,370,942)
Balance, December 31, 2018 at Dec. 31, 2018		36,720	2,384,824	(5,792,486)	(3,370,942)
Net loss		0	0	(45,245)	(45,245)
Balance, March 31, 2019		36,720	2,384,824	(5,792,486)	(3,370,942)
Net loss		0	0	(45,245)	(45,245)
Balance, June 30, 2019		36,720	2,384,824	(5,792,486)	(3,370,942)
Net loss		0	0	(45,245)	(45,245)
Balance, September 30, 2019 at Mar. 31, 2019		36,720	2,384,824	(5,837,731)	(3,416,187)
Balance, March 31, 2019		36,720	2,384,824	(5,837,731)	(3,416,187)
Balance, June 30, 2019		36,720	2,384,824	(5,837,731)	(3,416,187)
Net loss		0	0	(43,695)	(43,695)
Balance, March 31, 2019		36,720	2,384,824	(5,837,731)	(3,416,187)
Conversion of related Party debt		15,000	2,479,976		2,494,976
Net loss		0	0	(43,695)	(43,695)
Balance, June 30, 2019		36,720	2,384,824	(5,837,731)	(3,416,187)
Net loss		0	0	(43,695)	(43,695)
Balance, September 30, 2019 at Jun. 30, 2019		51,720	4,864,800	(5,881,426)	(964,906)
Balance, March 31, 2019		51,720	4,864,800	(5,881,426)	(964,906)
Balance, June 30, 2019		51,720	4,864,800	(5,881,426)	(964,906)
Net loss		0	0	540,992	540,992
Balance, March 31, 2019		51,720	4,864,800	(5,881,426)	(964,906)
Net loss		0	0	540,992	540,992
Balance, June 30, 2019		51,720	4,864,800	(5,881,426)	(964,906)
Derecognition of related party debt		0	365,964	0	365,964
Common stock issued for cash	$ 80,000	12,000	68,000	0	80,000
Net loss		0	0	540,992	540,992
Balance, September 30, 2019 at Sep. 30, 2019		63,720	5,298,764	(5,340,434)	22,050
Balance, March 31, 2019		63,720	5,298,764	(5,340,434)	22,050
Balance, June 30, 2019		$ 63,720	$ 5,298,764	$ (5,340,434)	$ 22,050

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NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2019

Notes

NOTE 3 - SIGNIFICANT ACCOUNTING POLICIES

  NOTE 3 – 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 and 10-Q.       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.     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 September 30, 2019 and 2018.

Stock-Based Compensation

The Company adopted ASC 718, “Stock Compensation”, upon inception at August 6, 2007. Under ASC 718, all share-based payments to employees, including grants of employee stock options, are to be recognized in the income statement based on their fair values. As of  September 30, 2019, the Company has not issued any employer stock options.

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

ASC 842, Leases, was added by ASU 2016-02 on February 25, 2016, effective for fiscal periods beginning after December 15, 2018 and interim periods therein.  ASC 842 provides the requirements of financial accounting and reporting for lessees and lessors.  The Company has adopted ASC 842 on January 1, 2019 and has concluded that no adjustments were needed.

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.