8-K
QHSLab, Inc. (USAQ)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported): April 5, 2022
USA
EQUITIES CORP.
(Exact Name of Registrant as Specified in its Charter)
000-19041
(Commission File No.)
| Nevada | 30-1104301 |
|---|---|
| (State<br><br> <br>of<br> Incorporation) | (I.R.S.<br> Employer<br><br> <br>Identification<br> No.) |
| 901<br> Northpoint Parkway Suite<br> 302 West<br> Palm Beach FL 33407 | 33407 |
| (Address<br> of Principal Executive Offices) | (ZIP<br> Code) |
Registrant’s telephone number, including area code: (929) 379-6503
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c) |
Securitiesregistered pursuant to Section 12(g) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.0001 par value | USAQ | N/A |
Item7.01 Regulation FD Disclosure.
On April 5, 2022, USA Equities Corp (the “Company”) issued a press release announcing certain operational highlights and financial results for the fourth quarter of 2021 and for the full year 2021. The full text of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Current Report on Form 8-K (including the exhibit) is furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.
We do not have, and expressly disclaim, any obligation to release publicly any updates or any changes in our expectations or any change in events, conditions, or circumstances on which any forward-looking statement is based.
By filing this Current Report on Form 8-K and furnishing the information contained herein, the Company makes no admission as to the materiality of any information in this report that is required to be disclosed solely by reason of Regulation FD. The Company uses, and will continue to use, its website (https://usaqcorp.com), press releases, and various social media channels, including its Twitter account (https://twitter.com/USAQcorp), its LinkedIn account (https://www.linkedin.com/company/usaqcorp) its Facebook account (https://www.facebook.com/USA-Equities-100113722270622), and its Instagram account (https://www.instagram.com/usaqcorp/) as additional means of disclosing public information to investors, the media and others interested in the Company. It is possible that certain information that the Company posts on its website, disseminated in press releases and on social media could be deemed to be material information, and the Company encourages investors, the media and others interested in the Company to review the business and financial information that the Company posts on its website, disseminates in press releases and on the social media channels identified above, as such information could be deemed to be material information.
ITEM9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Description |
|---|---|
| 99.1 | Press release dated April 5, 2022 entitled “USA Equities Corp. Reports Fourth Quarter and Full Year 2021 Financial Results.” |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this current report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date:<br> April 5, 2022 | |
|---|---|
| USA Equities Corp. | |
| /s/ Troy Grogan | |
| --- | --- |
| Name: | Troy<br> Grogan |
| Title: | CEO<br> and Chairman |
EXHIBIT99.1
USAEquities Corp. Reports Fourth Quarter and Full Year 2021 Financial Results
FourthQuarter 2021 Revenue Up 265%
| ● | Revenue<br> Surpassed $1.4 million for the year ended 2021 Compared to $124,000 for 2020 |
|---|---|
| ● | Gross<br> Margin of 52% in Q4 Increased 1,200 Basis Points Versus Q4 2020 |
| ● | Strong<br> balance sheet growth during 2021 with $2.2M in assets including the AllergiEnd® asset acquisition |
| ● | Pending<br> FINRA approval to change the Company’s Name to QHSLab, Inc. |
West Palm Beach, FL, April 5, 2022 (GLOBE NEWSWIRE) — USA Equities Corp (OTCQB: USAQ), a digital healthcare company focused on providing clinicians with artificial intelligence tools to leverage proactive, value-based healthcare solutions through the use of emerging digital and point of care technologies, announced its financial results for the fourth quarter and full-year 2021.
“The $1.6 million acquisition of the AllergiEnd® assets in June 2021 has created a robust strategic platform to build upon in 2022 and beyond. The revenue generated from AllergiEnd® product sales was $329,989 in the fourth quarter of 2021 compared to $124,532 for the same period in 2020 and $1,414,421 for the year 2021 compared to $124,532 for 2020. In addition, our physician practice clients generated approximately $5,000,000 in revenues utilizing our products during 2021. This is a huge benefit to our physician clients especially in this current climate of decreasing reimbursements for primary care physicians,” said USAQ CEO Troy Grogan.
“During 2021, 163 medical practices provided 11,235 patients with our allergy diagnostic tests generating approximately $3.8 million in new reimbursements for these practices. Additionally, physicians at these 163 practices provided our allergen immunotherapy treatments to 1,019 patients generating approximately $1.2 million in new reimbursements for our customers. Traditionally, general practice physicians would have elected not to treat these conditions or referred the patients to an allergy specialist. It is estimated that practices utilizing AllergiEnd® and QHSLab enjoyed an additional 5-10% income for their practices with the addition of the Company’s products and treatments. Few of these 163 practices were utilizing the Company’s products at the beginning of 2021 as many became customers during the year, so in many cases, on a rolling 12 months basis, the Company’s products and services may be enabling these practices to achieve increased income levels well above 10% compared to not using the Company’s platform, products and services.” concluded Grogan.
FourthQuarter 2021 Financial Highlights:
● Total revenues for the three months ended December 31, 2021 increased by 265% to $329,985, compared to $124,532 in revenues in the comparable period of 2020.
● The Company generated a gross profit of $172,967, or a gross margin of approximately 52.4% in the fourth quarter of 2021
2021Financial Results
● Total assets for the year ended December 31, 2021 were $2,208,497, compared to $297,863 the same period in 2020
● Total revenues for the year ended December 31, 2021 were $1,414,421, compared to $124,532 revenues in the comparable period of 2020
● The Company generated a gross profit of $670,748, or a gross margin of approximately 47.4% during the year ended December 31, 2021
**QHSLab,**the flagship product of USA Equities Corp, has garnered tremendous brand recognition. We have decided to change the name of our Company to QHSLab, Inc. pending FINRA approval expected in April 2022.
OurOperating Model
Our mission is to enhance the quality of life of individuals and populations through physician-directed digital medicine and innovative, artificial intelligence (AI) enhanced preventive health technologies.
| ● | Value Based. The Company provides the tools that enhance health care for patients while lowering costs to insurance providers and corporate<br> America and allowing physicians to increase their practice revenues. |
|---|---|
| ● | Patient Centered. Our products streamline the relationship between physicians and their patients, providing a high-quality experience<br> for patients, and increasing the value provided to them during care. |
| ● | Time Saving. Physicians can maximize face-to-face office visits and non-face-to-face patient education while generating additional<br> revenue through reimbursable preventative services. |
| ● | Prevention Focused. Our products are designed to promote prevention, early detection, management, and reversal of chronic diseases. |
Executingour Growth Strategy
| Growing Recurring Revenue Base | ● | Increasing<br> the number of medical practitioners utilizing our point-of-care and digital medicine services, growing our revenue per client metric. |
|---|---|---|
| ● | Future<br> distribution channels include Management Service Organization (MSO) partnerships, Independent Physician Associations (IPA’s),<br> and complementary digital health networks. | |
| Expanding Product Portfolio | ● | Additional<br> point-of-care diagnostic, digital medicine, and treatments that PCPs can use, prescribe, and be reimbursed for under existing government<br> and private insurance programs. |
| Increasing Industry Visibility | ● | Increasing<br> the number of company/university-sponsored medical conferences by partnering with the University of Miami to introduce and educate<br> members of the medical community about the technology and revenue opportunities available. |
AboutUSA Equities Corp.
USA Equities Corp. (OTCQB: USAQ) is a medical device company providing digital healthcare solutions and point-of-care-diagnostic tests to primary care physicians. Digital healthcare allows doctors to assess their patients’ responses quickly and effectively using advanced artificial intelligence algorithms. Digital healthcare can also remotely monitor patients’ vital signs and evaluate the effects of prescribed medicines and treatments on patients’ health through real-time data transferred from patient to doctor. USAQ also markets and sells point-of-care, rapid-response diagnostic tests used in the primary care practice. USAQ’s products and services are designed to help physicians improve patient monitoring and medical care while also improving the revenues of their practice.
For additional information, visit the Company’s website at www.USAQCorp.com
Forward-LookingStatements
Certain matters discussed in this press release are ‘forward-looking statements’ intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company’s statements regarding trends in the marketplace, future revenues, future products and potential future results and acquisitions, are examples of such forward-looking statements. Forward-looking statements are generally identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that express risks and uncertainties. These statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of the introduction of new products and the acceptance of these products, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company’s control. The factors discussed herein and expressed from time to time in the Company’s filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Investor& Media Contact:
Olivia Giamanco
USA Equities Corp
(929) 379-6503
IR@USAQCORP.COM