Company: EHSI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001437749-25-017141
Chunk: 21

Company: Elite Health Systems Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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526,000
			)

			-

			Net cash provided by (used in) investing activities

			(515,000
			)

			-

			Cash flows from financing activities:

			Sale of shares

			460,000

			1,745,000

			Issuance of common stock

			14,000

			-

			Net cash provided by (used in) financing activities

			474,000

			1,745,000

			Net change in cash and cash equivalents

			(338,000
			)

			1,284,000

			Cash and cash equivalents - beginning of period

			4,034,000

			466,000

			Cash and cash equivalents - end of period

			$
			3,696,000

			$
			1,750,000

The accompanying notes to condensed consolidated financial statements are an integral part hereof

6

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note A - Basis of Preparation

Organization and Business

Elite Health Systems Inc, formerly U.S. NeuroSurgical Holdings, Inc. through its wholly-owned subsidiaries, is developing a business to provide Medicare Advantage plans and related services, concentrating initially in California and Nevada.  As used herein, unless the context indicates otherwise, the term "Company" and "Registrant" means Elite Health Systems Inc. and its wholly-owned subsidiary, Elite Health Systems Holdings Inc. (“EHSH”), and the wholly-owned subsidiaries of EHSH, U.S. NeuroSurgical Physics, Inc., USN Corona, Inc., Elite Health Plan, Inc. and Elite Health Plan of Nevada, Inc.  

Company Background. 

The Company was previously engaged in the ownership and operations of radiation treatment centers.  Most of these businesses have been sold or wound down, and the Company has been actively pursuing opportunities to expand to other businesses that could benefit its current operations and relationships.  Effective October 1, 2021, the Company acquired all of the outstanding shares of capital stock of Elite Health Plan, Inc., a California corporation (“Elite Health”) and, in exchange therefor, the former holders of Elite Health were issued newly-issued shares of EHSH, which following the transaction represent 15% of the outstanding shares of EHSH.  Effective November 27, 2023, the Company entered into a Share Exchange Agreement