Quarterly ResultMay 8, 2026, 05:08 PM
First Choice Healthcare Q1 Revenue $0; Net Loss $(1.44)M; Cash $3.8K
AI Summary
First Choice Healthcare Solutions reported no revenue for Q1 2026, a significant decline from $4,033 in Q1 2025, leading to a net loss of $(1.44) million. Operating expenses increased, contributing to a worsening operating loss. The company's cash balance remains critically low at $3,859, while total liabilities continue to rise, exacerbating the stockholders' deficit.
Key Highlights
- Q1 2026 revenue was $0, down from $4,033 in Q1 2025.
- Net loss for Q1 2026 was $(1.44) million, worsening from $(1.40) million YoY.
- Cash and cash equivalents decreased to $3,859 from $5,896 at year-end 2025.
- Total liabilities increased to $45.04 million from $43.58 million since Dec 31, 2025.
- Total stockholders' deficit worsened to $(40.99) million from $(39.53) million.
- Net cash used in operating activities was $(327,038) in Q1 2026.
- Current notes payable rose to $27.99 million from $27.18 million.
- CEO Lance Friedman retains effective voting control via Series A Preferred Stock.