This report was our free report of the day on a previous date — it has since expired.

Today's free report is available: ADMT 10-K — ADMT net loss narrows 18% to $100K on non-operating gains as operating …

Sign up free to read 3 full reports/month

Get notified when GBCS files again. Create a free account and we'll email you the moment its next filing is analyzed.

Get filing alerts

Standing Risk Factors

  • Material Weakness (improved) — Company reduced material weaknesses from three to one, remediating IT access controls and segregation-of-duties issues; review-process weakness persists with remediation timeline pushed to 2026.
  • Going Concern (unchanged) — Substantial doubt about ability to continue as going concern persists despite improved working-capital deficit ($6.5M vs. $16.8M prior year) and $28.9M in asset-sale proceeds.
OTC: GBCS SELECTIS HEALTH, INC. 10-Q

Selectis swings to $6.5M profit on $8.9M Georgia facility sale as operations widen loss 199%

Filed May 22, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 21, 2025 · ~2 min read

Key Changes

  • high

    Net income of $6.5M (vs. -$656k prior year) driven entirely by $8.9M gain on January sale of two Georgia facilities; operating loss widened 199% to -$1.3M as healthcare revenue fell 32% following mid-quarter facility closures.

    MD&A: Georgia facility sales / Earnings quality verify on EDGAR →
  • high

    Company sold all four Georgia facilities (382 beds) in two closings: $13.2M proceeds in January 2026, $15.7M in May 2026. Total debt reduced $8.8M to $22.6M; working-capital deficit improved from $16.8M to $6.5M but going-concern disclosure persists.

    MD&A: Asset sales and liquidity verify on EDGAR →
  • high

    Material weaknesses reduced from three to one: IT access controls and segregation-of-duties issues remediated; review-process weakness remains. Remediation timeline for remaining weakness pushed from 2025 to 2026.

    Controls and Procedures verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

Read 3 full reports/month free No card required. Takes 30 seconds.

Partner

Trade GBCS commission-free

Open an account, get a free stock.

Sign up

Investing involves risk. Free stock terms apply.

Was this report useful?
View original filing on SEC.gov View full financials on EDGAR ↗

Source-verified from EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify