HUMBL, Inc. Company Summary

Overview

HUMBL, Inc. is a Delaware-incorporated company with a focus on digital assets, cryptocurrency, and blockchain-based platforms. As of May 9, 2025, it has approximately 39,791,299,186 shares of common stock outstanding. The company previously developed a Web 3.0 digital commerce platform but has transitioned into a holding company structure with a focus on acquiring and operating various subsidiaries in Latin America, especially Brazil.

Core Operations & Business Activities (Prior to Asset Sale)

• Previous Business Model: Web 3.0 digital commerce platform designed to connect consumers, businesses, and governments in the digital economy.

• Technology & Patents:

  • Issued a patent on October 15, 2024, for a "System and Method for Transferring Currency Using Blockchain."
  • The platform included features like digital wallets, verified merchandise, social media, and a marketplace.

• Key Platform Features:

  • HUMBL Wallet: A self-custody mobile app with features like search, social media, marketplace, and digital payments. Available in over 130 countries but no longer allows buying, selling, or swapping digital assets.
  • HUMBL.com: Search engine for articles, news, images, videos, verified merchandise, and event tickets.
  • HUMBL Tickets: Resale platform for live event tickets (music, sports, festivals). Fulfillment provided by Ticket Evolution.
  • HUMBL Authentics: Verified sports merchandise (e.g., autographed jerseys, helmets) paired with blockchain-registered certificates to mitigate fakes. No longer operates NFT marketplace.
  • HUMBL Social: Verified social media platform for authentic users and merchants.

• Commercial Services: Provides white-label digital wallet solutions, including a pilot program with Santa Cruz County, California, for governmental record-keeping.

Recent Strategic Changes & Asset Transactions

• Dispositions: On December 2, 2024, HUMBL sold all of its operating assets to WSCG, Inc. under an Asset Purchase Agreement.

  • The sale was completed on February 27, 2025.
  • As consideration, HUMBL received:
    • $3,025,000 in cash
    • 2,455,556 shares of WSCG Class B Common Stock
    • 24,555,556 membership units in HoldCo (which HUMBL owns 100% after transfer)
  • The sale resulted in the assets being reflected as discontinued operations.

• Acquisition of FinCapital:

  • HUMBL purchased 99% of FinCapital (Brazilian company holding 41,500 tons of magnesium silicate) from Ybyrá Capital S.A. as of December 2, 2024.
  • The purchase involved issuance of $20 million in common shares to Ybyrá:
    • $4 million in shares initially (10 billion shares at $0.0004/share)
    • $16 million in shares after a recapitalization event
  • FinCapital's asset of magnesium silicate valued at around $20 million (book value).

• New Business Focus:

  • Now operates as a holding company with subsidiaries.
  • First subsidiary: FinCapital (industrial minerals in Brazil).
  • Future plans include acquiring undervalued assets/businesses in North and South America, particularly Brazil.
  • Additional: On April 3, 2025, HUMBL acquired 51% interest in Multicortex, LLC, a high-performance AI and computing company, with funding contributions from HUMBL.

Financial & Operational Metrics

• Employees: 1 full-time employee as of December 31, 2024.
• Revenue: $0 for both 2024 and 2023 (discontinued operations, no ongoing commercial operations).
• Net Income / Loss:
  • 2024 (Continuing operations): Loss of $11,424,409
  • 2023 (Restated): Loss of $14,523,053
• Expenses (2024):
  • Professional Fees: ~$1 million
  • Settlement Expenses: ~$3 million
  • General & Administrative: ~$4.3 million
  • Operating loss from continuing operations: $11.4 million
• Assets (As of December 31, 2024):
  • Cash: $20,487
  • Non-current mineral assets (Magnesium silicate): $20 million
  • Discontinued operations assets: $2.97 million
  • Total assets: $23.2 million
• Liabilities (As of December 31, 2024):
  • Total liabilities: $26.7 million (including long-term debt and current liabilities)
• Working Capital: Deficit of approximately $23.7 million (compared to $4.7 million in 2023)

Summary of Business Focus

• Transitioned from a Web 3. digital commerce platform to a holding company model.
• Acquiring assets in the mining and industrial raw materials sector, primarily magnesium silicate.
• Developing advanced AI and high-performance computing through recent acquisitions.
• Focus on Latin American market, especially Brazil, leveraging deep regional connections.
• No active customer base or ongoing revenue-generating operations as of the latest filings; current operations are primarily asset management and holding activities.

Additional Notes

• Employees: 1 full-time employee; highly reliant on external consultants.
• Market Presence: Publicly traded OTC Pink with no active product sales.
• Regulatory & Legal: Involved in ongoing legal proceedings related to securities and contracts; no current active product sales or customer service operations.

Note: All financial and operational data are reflective of the latest disclosed period (end of 2024) and are based on the latest filed financial statements, which reflect a company in transition with assets sold and a new business model being implemented.