Thu, May 15, 7:12 PM (34 days ago)
**First Choice Healthcare Solutions, Inc. (FCHS, Ticker: FCHS) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Q1 2025 revenue was $4,033,000, a 41% decrease from $6,851,000 in Q1 2024, due to reduced service offerings and fewer patient visits. - **Profit Margins:** FCHS reported a net loss of $1,397,892 for Q1 2025, a 16% increase in net loss compared to $1,205,342 in Q1 2024. The increase in net loss was primarily due to higher rent charges and interest expenses. - **Cash Flow:** Net cash used in operating activities was $292,031 for Q1 2025, compared to $78,943 in Q1 2024. Cash provided by financing activities was $291,761, mainly from additional convertible debt investment. - **Earnings Changes:** The basic and diluted loss per common share remained at $0.04 for both periods. **Quarterly Performance Discussion:** - **Operating Expenses:** Total operating expenses increased to $588,489 in Q1 2025 from $503,677 in Q1 2024, driven by higher general and administrative expenses, primarily due to additional rent expenses for new leases. - **Interest Expense:** Interest expense increased to $785,896 in Q1 2025 from $711,116 in Q1 2024, due to additional capital investments. - **Liquidity:** As of March 31, 2025, FCHS had cash of $29,645 and no accounts receivable, compared to $19,915 in cash and no accounts receivable as of December 31, 2024. **Trends and Uncertainties:** - **Going Concern:** FCHS faces significant uncertainties regarding its ability to continue as a going concern, given its recurring net losses and working capital deficit. - **Capital Raising:** The company may need to raise additional funds through equity offerings, debt financing, or other means to execute its business development plan. - **Operational Challenges:** FCHS is working to repair relationships with employees and referral sources, grow its revenue base, and reduce operating costs. **Future Operations Impact:** - **Business Development:** FCHS's future success depends on its ability to acquire profitable companies, grow its revenue base, and access additional capital. - **Cost Reduction:** The company may need to curtail business development initiatives and reduce costs to conserve cash if additional capital is not secured. - **Market Risks:** FCHS is subject to various market risks, including changes in healthcare laws, third-party reimbursement rates, and consolidation in the hospital industry.