10-K - Polomar Health Services, Inc. (0001265521) (Filer)

Thu, May 22, 8:06 PM (30 days ago)

**Polomar Health Services, Inc. (PMHS)** **Financial Performance:** - **Revenue:** $58,824 (2024) vs. $41,844 (2023) - **Net Loss:** $1,341,333 (2024) vs. $587,997 (2023) - **Operating Expenses:** $1,330,399 (2024) vs. $478,382 (2023) - **Earnings per Share:** $(0.05) (2024) vs. $(0.02) (2023) **Strategic Overview:** - Operates Polomar Specialty Pharmacy, licensed in Florida. - Authorized to fulfill prescriptions in 28 states, seeking approval in more. - Owns SlimRx, a weight loss platform, and plans to launch PoloMeds for diabetes and other medications. - Focuses on prescription fulfillment for third-party tele-health platforms. **Future Outlook:** - Expects steady growth in the "wholesale" part of the business. - Plans to raise additional capital to increase operational capacity. - Faces substantial doubt about its ability to continue as a going concern. **Risk Factors:** - Development stage company with limited operating history. - Significant related party debt and current liabilities. - Competitors may develop less expensive products. - Unproven business plan and history of net losses. - Dependence on retaining and attracting key personnel. - Potential challenges in managing rapid growth. - Vulnerability to credit market volatility and illiquidity. - Dependence on licensed patent and proprietary rights. - Limited trading market for common stock. - Potential dilution of stock due to additional share issuances. - Anti-takeover provisions in charter and bylaws. - No plans to pay cash dividends in the foreseeable future. - Increased costs and demands on management as a public company. - Significant portion of shares restricted from immediate resale. - Dependence on a few key personnel. - Potential adverse effects from political, social, and geopolitical conditions. - Information technology failures and data security breaches. - Lack of adequate D&O insurance may affect ability to retain and attract talented directors and officers. - Challenges with respect to labor availability could negatively impact the Company’s ability to operate or grow the business. **Financial Condition:** - Total current assets: $76,813 (2024) - Total current liabilities: $1,337,778 (2024) - Working capital deficit: $1,260,965 (2024) - Net cash used by operating activities: $1,019,787 (2024) - Financing activities provided $1,108,063 in cash (2024) **Market Position Changes:** - Common stock is qualified for quotation on the OTC Markets-OTC Pink under the symbol "PMHS." - No established trading market for common stock. - Approximately 175 shareholders of record as of May 16, 2025.