Mon, Jun 30, 8:07 PM (13 days ago)
**Abstract/Summary:** Polomar Health Services, Inc. (PMHS) reported its quarterly financial health for the period ended March 31, 2025. The company, a Florida-licensed retail compounding pharmacy, operates under the ticker PMHS and has undergone significant changes, including a reverse merger with Polomar Specialty Pharmacy, LLC. **Key Financial Metrics:** - **Revenue:** $4,542,000 (down from $13,610,000 in Q1 2024) due to a post-merger transition to an online business model. - **Gross Profit:** $3,182,000 (up from $2,713,000 in Q1 2024). - **Operating Expenses:** $418,590,000 (up from $163,181,000 in Q1 2024), primarily due to legal, accounting, and payroll costs. - **Net Loss:** $456,855,000 (up from $160,468,000 in Q1 2024). - **Cash Flow:** Net cash used in operating activities was $(45,577,000), an improvement from $(164,763,000) in Q1 2024. - **Liquidity:** As of March 31, 2025, the company had $129,331,000 in cash and an accumulated deficit of $3,368,018,000. **Trends and Uncertainties:** - The company is in the process of raising additional capital and investing in its existing business and potential opportunities. - There is substantial doubt about the company's ability to continue as a going concern within one year from the date of filing. - The company is actively seeking approval and authorization to provide prescription medications in more U.S. states and expects to apply for a drug export permit in the third quarter of 2025. **Future Operations Impact:** - The company plans to launch PoloMeds™ in the third quarter of 2025 to fulfill prescriptions for diabetes medications, erectile dysfunction medications, and dermatological formulations. - The company is evaluating its pre-existing business and may permanently shut down, spin off, or assign it at the time of future transactions. **Management Discussion:** - Management acknowledged the company's history of losses and negative cash flows from operating activities. - The company's ability to continue as a going concern is dependent on its ability to generate revenues and raise capital. - The company has not generated sufficient revenues to fund its operations internally and has relied on related party loans and the issuance of restricted common stock to raise working capital. **Conclusion:** Polomar Health Services, Inc. faces significant financial challenges and uncertainties. While the company has plans for growth and expansion, its ability to execute these plans and secure additional funding will be crucial for its continued operations. Investors and stakeholders should closely monitor the company's progress and financial health in the coming quarters.