GBCS · Selectis Health, Inc. · Shareholders & Ownership

The latest filing states the doubt was alleviated.

“As a result of the Company’s historical losses and projected cash needs, substantial doubt exists about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is contingent upon successful execution of management’s plan over the next twelve months to improve the Company’s liquidity and profitability, which includes, without limitation: Increasing revenue by increasing occupancy in the facilities and increasing Medicaid reimbursement rates; Sale of certain facilities; Controlling operating expenses; and Seeking additional capital through the issuance of debt or equity securities, or the sale of assets. The focus on opportunities within the Company’s current portfolio and future properties to acquire and operate, the settlement, refinance, and continued service of debt obligations, the potential funds generated from stock sales and other initiatives contributing to additional working capital should alleviate any substantial doubt about the Company’s ability to continue as a going concern. However, the Company cannot predict, with certainty, the outcome of these actions to generate liquidity and the failure to do so could negatively impact the Company’s future operations.”