Thu, May 15, 6:40 PM (28 days ago)
**Elite Health Systems Inc. (EHS) - Q1 2025 Financial Summary** **Ticker:** EHS **Q1 2025 Financial Health:** - **Revenue:** $0 (no revenue generated as the company is in the development stage). - **Net Loss:** $424,000 (compared to $312,000 in Q1 2024). - **Cash and Cash Equivalents:** $3,696,000 (down from $4,034,000 in Q4 2024). - **Total Assets:** $4,319,000 (relatively stable compared to $4,321,000 in Q4 2024). - **Total Liabilities:** $91,000 (down from $143,000 in Q4 2024). - **Stockholders' Equity:** $4,228,000 (up from $4,178,000 in Q4 2024). - **Accumulated Deficit:** $4,869,000 (up from $4,445,000 in Q4 2024). - **Working Capital:** $3,679,000 (down from $4,155,000 in Q4 2024). **Performance Metrics:** - **Gross Margin:** Not applicable (no revenue). - **Operating Margin:** -100% (operating loss of $427,000 on zero revenue). - **Net Margin:** -100% (net loss of $424,000 on zero revenue). - **Cash Flow from Operations:** -$297,000 (down from -$461,000 in Q1 2024). **Earnings Changes:** - **EPS:** -$0.02 (down from -$0.03 in Q1 2024). - **Weighted Average Shares Outstanding:** 21,082,146 (up from 11,899,210 in Q1 2024). **Quarterly Performance Discussion:** - EHS continues to operate at a loss as it focuses on developing its Medicare Advantage plans. - The company has raised $5.8 million through a private placement of common stock, bringing the total outstanding shares to 21,409,924 as of March 31, 2025. - EHS has submitted documentation for a Knox-Keene license to offer managed health care plans in California and has formed Elite Health Plan of Nevada, Inc. to apply for a license in Nevada. - The company has sold its interest in BOPRE and written off the remaining value of amounts due from CBOP. **Trends and Uncertainties:** - EHS is dependent on raising additional capital to fund its operations and plans. - The company's success is contingent on obtaining necessary licenses and approvals to operate Medicare Advantage plans. - EHS faces substantial doubt regarding its ability to continue as a going concern, but management believes its plan alleviates this doubt. **Future Operations Impact:** - EHS plans to concentrate its efforts on establishing and operating managed health care plans. - The company intends to use the net proceeds from its private placement to execute its plan for Elite Health. - EHS expects to apply for a license to operate a Medicare Advantage plan in Nevada after securing approvals in California.