Wed, May 29, 4:11 PM (145 days ago)
JRSIS Health Care Corporation's Form 10-Q for the quarter ended March 31, 2024, reports a net loss of $169,948, a significant decline from a net income of $53,135 in the same period of 2023. The company faced a 62% decrease in gross profit due to higher costs and aggressive marketing discounts. Revenue increased slightly by 5% to $500,420, driven by more goods sold and services rendered. However, operating expenses surged by 195% to $218,128, primarily due to increased marketing and professional service costs. The company’s cash flow from operations was negative at $204,937, but it secured $413,267 from financing activities, including bank loans and share issuance. The company has a working capital deficit of $581,125 and faces substantial doubt about its ability to continue as a going concern. Management plans to secure additional funding and optimize operations to address these challenges.