Wed, Jul 24, 2:56 PM (45 days ago)
Cardiff Lexington Corporation filed Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. This amendment addresses comments from the SEC staff and does not reflect any events after March 27, 2024. **Financial Performance:** - **Revenue:** Increased by 10.85% to $11.85 million. - **Net Income:** Improved significantly to $3.03 million from a net loss of $5.43 million in 2022. - **Operating Expenses:** Increased slightly to $3.10 million. - **Earnings Per Share:** Not explicitly mentioned but implied improvement due to net income rise. - **Gross Profit:** Increased by 25.02% to $8.29 million. **Strategic Overview:** - Focused on acquiring undervalued healthcare companies and providing them with capital and leadership. - Sold Platinum Tax Defenders and Affordable Housing Initiative in 2022 and 2023, respectively. **Future Outlook:** - Plans to acquire additional healthcare businesses. - Emphasis on maintaining profitability and managing growth effectively. **Risk Factors:** - Extended accounts receivable collection period. - Dependence on external financing. - Competition and regulatory compliance. **Market Position:** - No significant changes in market position noted. **Financial Condition:** - Cash on hand: $866,943. - Financing operations through revenue, securities sales, and debt. **Amendment Impact:** - Addressed SEC comments; no other changes.