# EDGAR Filing Document

**Accession Number:** 0000727346
**File Stem:** 0001493152-26-024987
**Filing Date:** 2026-5
**Character Count:** 89886
**Document Hash:** 413f293c7acabfdc9e3b2dcecbbe03f3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-024987.hdr.sgml**: 20260522

**ACCESSION NUMBER**: 0001493152-26-024987

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 65

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260522

**DATE AS OF CHANGE**: 20260522

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SELECTIS HEALTH, INC.
- **CENTRAL INDEX KEY:** 0000727346
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 870340206
- **STATE OF INCORPORATION:** UT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-15415
- **FILM NUMBER:** 261013244

**BUSINESS ADDRESS:**
- **STREET 1:** 8480 E. ORCHARD ROAD
- **STREET 2:** SUITE 4900
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111
- **BUSINESS PHONE:** 720-680-0808

**MAIL ADDRESS:**
- **STREET 1:** 8480 E. ORCHARD ROAD
- **STREET 2:** SUITE 4900
- **CITY:** GREENWOOD VILLAGE
- **STATE:** CO
- **ZIP:** 80111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GLOBAL HEALTHCARE REIT, INC.
- **DATE OF NAME CHANGE:** 20131004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GLOBAL CASINOS INC
- **DATE OF NAME CHANGE:** 19950413

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MORGRO CHEMICAL CO
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

☒ **QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period ended March 31, 2026

**OR**

☐ **TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT**

For the transition period from _______ to ______

**Commission file number 0-15415**

**<u>Selectis Health, Inc.</u>**

(Exact name of Registrant as specified in its Charter)

---

| | |
|:---|:---|
| **Utah** | **87-0340206** |
| (State or other jurisdiction of | I.R.S. Employer |
| incorporation or organization) | Identification number |

---

---

| | |
|:---|:---|
| **600 17<sup>th</sup> **Street Suite 284**<br>**Denver, CO** | **80202** |
| (Address of principal executive offices) | (Zip Code) |

---

**<u>Issuer's telephone number: (720) 680-0808</u>**

Check whether the Issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the last 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐ No ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of "large accelerated filer", "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller Reporting Company ☒

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☒ No ☐

As of May 20, 2026, the Registrant had 3,067,059 shares of its Common Stock outstanding.

**INDEX**

---

| | | |
|:---|:---|:---|
|  |  | **Page**<br>**No.** |
|  | [PART I — FINANCIAL INFORMATION](#sd_001) |  |
| **Item 1.** | [Condensed Consolidated Financial Statements (Unaudited)](#sd_002) | 3 |
|  | [Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 2025](#sd_003) | 3 |
|  | [Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#sd_004) | 4 |
|  | [Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#sd_005) | 5 |
|  | [Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (Unaudited)](#sd_006) | 6 |
|  | [Notes to Condensed Consolidated Financial Statements (Unaudited)](#sd_007) | 7 |
| **Item 2.** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#sd_008) | 18 |
| **Item 3.** | [Quantitative and Qualitative Disclosures About Market Risk](#sd_009) | 23 |
| **Item 4.** | [Controls and Procedures](#sd_010) | 23 |
|  | [PART II - OTHER INFORMATION](#sd_011) |  |
| **Item 1.** | [Legal Proceedings](#sd_012) | 24 |
| **Item 1A.** | [Risk Factors](#sd_013) | 24 |
| **Item 2.** | [Unregistered Sales of Equity Securities and Use of Proceeds](#sd_014) | 24 |
| **Item 3.** | [Defaults Upon Senior Securities](#sd_015) | 24 |
| **Item 4.** | [Mine Safety Disclosures](#sd_016) | 24 |
| **Item 5.** | [Other Information](#sd_017) | 24 |
| **Item 6**. | [Exhibits](#sd_018) | 24 |

---

**PART 1. FINANCIAL INFORMATION**

**Item 1. Condensed Consolidated Financial Statements (Unaudited)**

**SELECTIS HEALTH, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
|  | (Unaudited) | |
| **ASSETS** |  |  |
| **Current Assets:** |  |  |
| Cash and cash equivalents | $1286452 | $1011632 |
| Accounts receivable, net | 2489809 | 2277235 |
| Other receivable | 254837 | 123135 |
| Prepaid expenses and other assets | 282023 | 149824 |
| Assets held for sale | 5509810 | 4021156 |
| Total current assets | 9822931 | 7582982 |
| **Long Term Assets:** |  |  |
| Restricted cash | 192129 | 842061 |
| Escrow receivable | 1310000 |  |
| Property and equipment, net | 18307651 | 23076042 |
| Goodwill | 379479 | 1076908 |
| **Total Assets** | $30012190 | $32577993 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)** |  |  |
| **Liabilities:** |  |  |
| Accounts payable and accrued liabilities | 7160441 | 6290014 |
| Dividends payable | 97100 | 89600 |
| Short term debt |  | 775000 |
| Current portion of long-term debt, net of discount of $6,544 and $6,544, respectively | 3876312 | 10938102 |
| Lines of credit |  | 325192 |
| Liabilities held for sale, net of discount of $0 and $231,196, respectively | 5184308 | 6131518 |
| Other current liabilities | - | 725000 |
| Total Current Liabilities | 16318161 | 25274426 |
| Long-term debt, net of discount of $195,824 and $197,459, respectively | 13327885 | 13407805 |
| Lease security deposit | 107800 | 106300 |
| **Total Liabilities** | 29753846 | 38788531 |
| **Commitments and Contingencies** |  |  |
| **Stockholders' Deficit:** |  |  |
| Preferred Series A - no dividends, $2.00 stated value, non-voting; 2,000,000 shares authorized, 200,500 shares issued and outstanding as of March 31, 2026 and December 31, 2025 | 401000 | 401000 |
| Preferred Series D - 8% cumulative, convertible, $1.00 stated value, non-voting; 1,000,000 shares authorized, 375,000 issued, and 325,000 and 375,000 shares outstanding as of March 31, 2026 and December 31, 2025 | 325000 | 375000 |
| Common Stock - $0.05 par value; 1,000,000,000 shares authorized, 3,067,059 shares issued and outstanding at March 31, 2026 and December 31, 2025 | 153352 | 153352 |
| Additional paid-in capital | 14104998 | 14104998 |
| Accumulated deficit | (14726006) | (21244888) |
| **Total Stockholders' Equity (Deficit)** | 258344 | (6210538) |
| **Total Liabilities and Stockholders' Equity (Deficit)** | $30012190 | $32577993 |

---

See accompanying notes to unaudited condensed consolidated financial statements.

**SELECTIS HEALTH, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**<br> **March 31,** | **Three Months Ended**<br> **March 31,** |
|  | **2026** | **2025** |
| **Revenue** |  |  |
| Healthcare revenue | $7181161 | $10486939 |
| Management fee revenue | 107441 | - |
| **Total Revenue** | 7288602 | 10486939 |
| **Expenses** |  |  |
| Property taxes, insurance and other operating | 6068043 | 8080969 |
| General and administrative | 2129484 | 2365088 |
| Provision for credit losses | 20357 | 99608 |
| Depreciation | 333211 | 363020 |
| Total Expenses | 8551095 | 10908685 |
| **Loss from Operations** | (1262493) | (421746) |
| **Other (income) expense** |  |  |
| Gain on sale of asset | (8896309) |  |
| Interest expense, net | 923784 | 542667 |
| Other income | (226085) | (308444) |
| Total other (income) expense | (8198610) | 234223 |
| **Income (loss) before income taxes** | 6936117 | (655969) |
| Provision for income taxes | 409735 | - |
| **Net income (loss)** | 6526382 | (655969) |
| Series D preferred dividends | (7500) | (15000) |
| **Net income (loss) attributable to common stockholders** | $6518882 | $(670969) |
| **Per Share Data:** |  |  |
| **Net income (loss) per share attributable to common stockholders:** |  |  |
| **Basic** | $2.13 | $(0.22) |
| **Diluted** | $1.90 | $(0.22) |
| **Weighted Average Common Shares Outstanding:** |  |  |
| **Basic** | 3067059 | 3067059 |
| **Diluted** | 3442773 | 3067059 |

---

See accompanying notes to unaudited condensed consolidated financial statements.

**SELECTIS HEALTH, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT**)

**(UNAUDITED)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Series A**<br> **Preferred Stock** | **Series A**<br> **Preferred Stock** | **Series D**<br> **Preferred Stock** | **Series D**<br> **Preferred Stock** | **Common Stock** | **Common Stock** | | | |
|  | **Number of**<br> **Shares** | **Amount** | **Number of**<br> **Shares** | **Amount** | **Number of** <br> **Shares** | **Amount** | **Additional**<br>**Paid-In**<br> **Capital** |<br>**Accumulated**<br> **Deficit** | **Selectis**<br> **Health, Inc.**<br>**Stockholders'<br> Equity (Deficit)** |
| **Balance, December 31, 2025** | **200500** | $**401000** | **375000** | $**375000** | **3067059** | $**153352** | $**14104998** | $**(21244888)** | $**(6210538)** |
| Series D Preferred Dividends |  |  |  |  |  |  |  | (7500) | (7500) |
| Repurchase of preferred stock |  |  | (50000) | (50000) |  |  |  |  | (50000) |
| Net income | - | - | - | - | - | - | - | 6526382 | 6526382 |
| **Balance, March 31, 2026** | **200500** | $**401000** | **325000** | $**325000** | **3067059** | $**153352** | $**14104998** | $**(14726006)** | $**258344** |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Series A**<br> **Preferred Stock** | **Series A**<br> **Preferred Stock** | **Series D**<br> **Preferred Stock** | **Series D**<br> **Preferred Stock** | **Common Stock** | **Common Stock** | | | |
|  | **Number of**<br> **Shares** | **Amount** | **Number of**<br> **Shares** | **Amount** | **Number of** <br> **Shares** | **Amount** | **Additional**<br>**Paid-In**<br> **Capital** |<br>**Accumulated**<br> **Deficit** | **Selectis**<br> **Health, Inc.**<br>**Stockholders'<br> Deficit** |
| **Balance, December 31, 2024** | **200500** | $**401000** | **375000** | $**375000** | **3067059** | $**153352** | $**13852028** | $**(20191636)** | $**(5410256)** |
| **Series D Preferred Dividends** |  |  |  |  |  |  |  | (15000) | (15000) |
| Net loss | - | - | - | - | - | - | - | (655969) | (655969) |
| **Balance, March 31, 2025** | **200500** | $**401000** | **375000** | $**375000** | **3067059** | $**153352** | $**13852028** | $**(20862605)** | $**(6081225)** |

---

See accompanying notes to unaudited condensed consolidated financial statements.

**SELECTIS HEALTH, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**<br> **March 31,** | **Three Months Ended**<br> **March 31,** |
|  | **2026** | **2025** |
| Cash flows from operating activities: |  |  |
| Net income (loss) | $6526382 | $(655969) |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: |  |  |
| Depreciation | 333211 | 363020 |
| Amortization of debt discount | 232832 | 4184 |
| Gain on sale of assets | (8896309) |  |
| Provision for credit losses | 20357 | 99608 |
| Changes in operating assets and liabilities: |  |  |
| Accounts receivable | (232931) | (358124) |
| Prepaid expenses and other assets | (263901) | (347751) |
| Accounts payable and accrued liabilities | 1291102 | 1527043 |
| Liabilities held for sale | (577055) |  |
| Other current liabilities | (725000) | 400000 |
| Lease security deposits | 1500 | 3400 |
| Cash (used in) provided by operating activities | (2289812) | 1035411 |
| Cash flows from investing activities: |  |  |
| Proceeds from sale of assets held for sale, net | 5401131 |  |
| Cash paid for property and equipment | (377201) | (219240) |
| Cash provided by (used in) investing activities | 5023930 | (219240) |
| Cash flows from financing activities: |  |  |
| Proceeds from debt, non-related party |  | 50000 |
| Payments on debt, related party | (775000) |  |
| Payments on debt, non-related party | (1959038) | (245697) |
| Repurchase of preferred stock | (50000) |  |
| Payments on line-of-credit | (325192) |  |
| Proceeds from line-of-credit | - | 13258 |
| Cash used in financing activities | (3109230) | (182439) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (375112) | 633732 |
| Cash and cash equivalents and restricted cash at beginning of the period | 1853693 | 1391966 |
| Cash and cash equivalents and restricted cash at end of the period | $1478581 | $2025698 |
| Supplemental Disclosure of Cash Flow Information |  |  |
| Cash paid for interest | $437559 | $535277 |
| Cash and cash equivalents | $1286452 | $1288779 |
| Restricted cash | $192129 | $736919 |
| **Total Cash and Cash Equivalents and Restricted Cash** | $1478581 | $2025698 |
| Supplemental Schedule of Non-Cash Investing and Financing Activities |  |  |
| Dividends declared on Series D Preferred Stock | $7500 | $15000 |
| Payoff of mortgages funded at closing | $5785659 | $- |
| Escrow receivable funded at closing | $1310000 | $- |
| Closing costs, prepayment penalties and other adjustments funded at closing | $678210 | $- |

---

See accompanying notes to unaudited condensed consolidated financial statements.

**SELECTIS HEALTH, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**(UNAUDITED)**

**1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

**Organization and Description of the Business**

Selectis Health, Inc ("Selectis" or "we" or the "Company") owns and operates, through wholly-owned subsidiaries Assisted Living Facilities, Independent Living Facilities, and Skilled Nursing Facilities across the Midwest, South and Southeastern portions of the US.

The Company acquires, develops, lease and manages healthcare real estate and provides healthcare operations through our wholly-owned subsidiaries. Our portfolio is comprised of investments in the following healthcare operations: (i) senior housing (including independent and assisted living) and (ii) post-acute/skilled nursing. We will make investments within our healthcare operations using the following six investment products: (i) direct ownership of properties, (ii) debt investments, (iii) developments and redevelopments, (iv) investment management, (v) the Housing and Economic Recovery Act of 2008 ("RIDEA"), which represents investments in senior housing operations utilizing the structure permitted by RIDEA and (vi) owning healthcare operations.

**Liquidity and Going Concern**

The accompanying unaudited Condensed Consolidated Financial Statements are prepared in accordance with U.S. GAAP applicable to a going concern. This presentation contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and does not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described below.

For the three months ended March 31, 2026, the Company had net income of $6.5 million, accumulated deficit of $14.7 million and negative net working capital of $6.5 million. 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.

**2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

**Basis of Presentation**

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information and in conjunction with the rules and regulations of the Securities Exchange Commission. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary to make the consolidated financial statements not misleading have been included. Operating results for the three months ended March 31, 2026, are not necessarily indicative of the results that may be expected for the entire year. The year-end condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. In accordance with the rules and regulations of the U.S. Securities and Exchange Commission (SEC), the Company has omitted certain footnote disclosures that would substantially duplicate the disclosures contained in its annual audited Consolidated Financial Statements. Therefore, the unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC.

**Principles of Consolidation**

The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

**Income (Loss) Per Common Share**

Basic earnings (loss) per share are based on the weighted-average number of shares of common stock outstanding. FASB ASC Topic 260, "Earnings per Share", requires the Company to include additional shares in the computation of earnings per share, assuming dilution.

Diluted earnings per share are based on the assumption that all dilutive options and warrants were converted or exercised by applying the treasury stock method and that all convertible preferred stock were converted into common shares by applying the if-converted method. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period or at the time of issuance, if later, and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, the preferred dividends applicable to convertible preferred stock are added back to the numerator. The convertible preferred stock is assumed to have been converted at the beginning of the period or at time of issuance, if later, and the resulting common shares are included in the denominator.

We calculate basic earnings (loss) per share by dividing net income (loss) attributable to common stockholders (the "numerator") by the weighted average number of common shares outstanding (the "denominator") during the reporting period. Diluted earnings per share is calculated similarly but reflects the potential impact of outstanding options, warrants and other commitments to issue common stock, including shares issuable upon the conversion of convertible preferred stock outstanding, except where the impact would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share:

SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Numerator for basic and diluted earnings per share: |  |  |
| Net income (Loss) Attributable to Selectis Health, Inc. | $6526382 | $(655969) |
| Series D Preferred Dividends | (7500) | (15000) |
| Net income (loss) attributable to common stockholders – Basic and Diluted | $6518882 | $(670969) |
| Denominator for basic and diluted earnings per share: |  |  |
| Weighted average common shares outstanding – Basic | 3067059 | 3067059 |
| Weighted average common shares outstanding – Diluted | 3442773 | 3067059 |
| Net income (loss) per share attributable to common stockholders: |  |  |
| Basic | $2.13 | $(0.22) |
| Diluted | $1.90 | $(0.22) |

---

**Segment Reporting**

The Company operates through a single operating and reportable segment focused on the business of operating assisted living facilities, independent living facilities, and skilled nursing facilities across the South and Southeastern portions of the US. The Company manages all business activities on a consolidated basis. The Company's chief operating decision maker (CODM) is the Chief Executive Officer.

The CODM evaluates the performance of the operating segment and allocates resources based on net loss that also is reported on the condensed consolidated statements of operations and comprehensive loss as net loss. The measure of the operating segment assets is reported on the condensed consolidated balance sheet as total assets.

The CODM uses net income (loss) to monitor budget versus actual results and to analyze cash flows in assessing performance of the segment and allocating resources. The significant expense categories regularly provided to the CODM include property taxes, insurance and other operating expenses and general and administrative expenses. These expense categories are reported as separate line items in our condensed consolidated statements of operations and comprehensive loss. All our revenue is attributable to the United States and to our single operating segment.

**Recently issued Accounting Pronouncements Not Yet Adopted**

In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments in ASU 2024-03 require a public business entity to disclose specific information about certain costs and expenses in the notes to its financial statements for interim and annual reporting periods. The objective of the disclosure requirements is to provide disaggregated information about a public business entity's expenses to help investors (i) better understand the entity's performance, (ii) better assess the entity's prospects for future cash flows, and (iii) compare an entity's performance over time and with that of other entities. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. We are currently evaluating the impact of the adoption of ASU 2024-03.

The FASB and other entities issued new or modifications to, or interpretations of, existing accounting guidance during 2026. Management has carefully considered the new pronouncements that altered generally accepted accounting principles and does not believe that any other new or modified principles will have a material impact on the Company's reported financial position or operations in the near term.

**3. PROPERTY AND EQUIPMENT, NET**

The gross carrying amount and accumulated depreciation of the Company's property and equipment as of March 31, 2026 and December 31, 2025, are as follows:

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
| Land | $1228250 | $1298250 |
| Land Improvements | 87055 | 287055 |
| Buildings and Improvements | 26078787 | 33014691 |
| Furniture, Fixtures and Equipment | 1183271 | 2321737 |
|  | 28577363 | 36921733 |
| Less: Accumulated Depreciation | (10269712) | (13845691) |
|  | $18307651 | $23076042 |

---

As of March 31, 2026 and December 31, 2025 $4,812,381 and $4,021,156 of property and equipment, net was classified as assets held for sale on the consolidated Balance Sheets and are attributable to two Georgia facilities sold in January 2026 and another two properties sold in May 2026 (see Notes 7 and 8).

---

| | | |
|:---|:---|:---|
|  | **For the Three Months Ended March 31,** | **For the Three Months Ended March 31,** |
|  | **2026** | **2025** |
| Depreciation Expense | $333211 | $363020 |

---

**4. DEBT AND DEBT - RELATED PARTIES**

The following is a summary of the Company's debt outstanding as of March 31, 2026 and December 31, 2025:

SCHEDULE OF DEBT OUTSTANDING

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
| Senior Secured Promissory Notes | $484094 | $1591238 |
| Senior Secured Promissory Notes - Related Parties |  | 775000 |
| Fixed-Rate Mortgage Loans | 17698311 | 24258870 |
| Variable-Rate Mortgage Loans | 4408468 | 4485462 |
| Line of Credit | - | 325192 |
|  | 22590873 | 31435762 |
| Unamortized Discount and Debt Issuance Costs | (202368) | (435200) |
|  | $22388505 | $31000562 |
| As presented in the Consolidated Balance Sheets: |  |  |
| Current Maturities of Long-Term Debt, Net | $3876312 | $10938102 |
| Current Maturities of Long-Term Debt, Net classified within liabilities held for sale (1) | 5184308 | 5554463 |
| Short Term Debt – Related Parties, Net |  | 775000 |
| Line of Credit - Current |  | 325192 |
| Long-Term Debt | 13327885 | 13407805 |
|  | $22388505 | $31000562 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) $5,184,308 and $5,554,463 is classified within Liabilities held for sale within the consolidated balance sheets as of March 31, 2026 and December 31, 2025,
 respectively, which is the short-term classified debt attributable to our two Georgia facilities sold in January 2026 and our two
 Georgia facilities sold in May 2026 (See Notes 7 and 8).

The weighted average interest rate and term of our fixed rate debt are 6.41% and 13.19 years, respectively, as of March 31, 2026. The weighted average interest rate and term of our variable rate debt are 8.35% and 11.88 years, respectively, as of March 31, 2026.

The weighted average interest rate and term of our fixed rate debt are 6.21% and 13.76 years, respectively, as of December 31, 2025. The weighted average interest rate and term of our variable rate debt are 8.35% and 12.12 years, respectively, as of December 31, 2025.

**Corporate Senior and Senior Secured Promissory Notes**

*Senior Secured Notes*

As of March 31, 2026, the senior secured notes are subject to annual interest of 13% with an original maturity date of October 31, 2021.

In 2017, $600,000 in notes were sold and issued, of which $425,000 were to related parties. On December 31, 2017, there were outstanding an aggregate of $1.2 million in senior secured notes. The maturity date of all the senior secured notes was extended to December 31, 2018 prior to their original maturity date. For every $10.00 in principal amount of note, investors got one warrant exercisable for one year to purchase an additional share of common stock at an exercise price of $7.50 per share. The warrants have a cashless exercise provision and were valued using the Black-Scholes pricing model. The maturity date of the 120,000 warrants issued along with the notes was extended to December 31, 2018, 225,000 warrants of which occurred in 2018. As of December 31, 2019, the Company had not renewed or repaid $125,000 in 10% notes with a maturity date of December 31, 2018, and those notes were technically in default. Effective January 28, 2020, the Company exchanged $100,000 in outstanding senior secured 10% Notes and Warrants that had matured on December 31, 2018 for 11% Senior Secured Promissory Notes and issued 10,000 cashless exercise warrants for purchase of company stock at $5.00, expiring October 31, 2021. As of December 31, 2020, the Company had not renewed or repaid $25,000 in 10% notes with a maturity date of December 31, 2018. While this is technically in default, the Company continues to make interest payments to the noteholder.

In October 2017, the Company sold an aggregate of $300,000 in senior unsecured notes. The notes bear interest at the rate of 10% per annum and were due in October 2020. For every $10.00 in principal amount of note, investors got one warrant exercisable for one year to purchase an additional share of common stock at an exercise price of $7.50 per share. The warrants have a cashless exercise provision. On September 30, 2020, the Company repaid $150,000 of 10% Senior Unsecured Notes that matured October 31, 2020. Effective October 31, 2020, the Company exchanged $150,000 in outstanding Senior Unsecured 10% Notes and Warrants that had matured on October 31, 2020 for 11% Senior Secured Promissory Notes and issued 15,000 cashless exercise warrants for purchase of the Company's common stock at $5.00 per share, expiring October 31, 2021.

In October 2018, the Company, through a registered broker-dealer acting as Placement Agent, undertook a private offering to accredited investors of Units, each Unit consisting of an 11% Senior Secured Note, due in three years, (October 31, 2021) and one Warrant for each $10.00 in principal amount of Note exercisable for three years to purchase a share of Common Stock at an exercise price of $5.00 per share. The Company and the Placement Agent completed the Offering in December 2018 having sold an aggregate of $1,160,000 in Notes and Warrants. The net proceeds to the Company were $1,092,400, after deducting Placement Agent fees of $67,600, and issued 11,100 warrants to the Placement Agent with $21,453 of the fair value of the warrants recorded as loan cost. The Offering also included the exchange of an aggregate of $1.075 million in outstanding senior secured 10% Notes and Warrants for Units in the Offering. No proceeds were realized from the exchange and no fees were paid to the Placement Agent for such exchanges. During 2018, among the $1.075 million senior secured notes that were extended to October 31, 2021 by virtue of the exchange, $875,000 were to related parties.

On January 17, 2020, the Board of Directors agreed to increase the total offering amount and extend the period of its 2018 Offering of 11% Senior Secured Notes. The total amount of the Offering has been increased to $2,500,000 and the offering period will continue until terminated by the Board of Directors. Effective February 5, 2020 and March 3, 2020, the Company completed the sale of $60,000 and $100,000, respectively, of Units in the Offering. The sale of $100,000 Units on March 3, 2020 was to a related party. In connection with the sale of the Units on February 5, 2020 and March 3, 2020, the Company issued 6,000 and 10,000, respectively, cashless exercise warrants for purchase of company stock at $0.50, expiring October 31, 2021. Effective October 31, 2020 the Company completed the exchange of $150,000 of Units in the Offering for matured Senior Unsecured notes. In connection with the exchange of the Units effective October 31, 2020, the Company issued 15,000 cashless exercise warrants for purchase of company stock at $5.00, expiring October 31, 2021. No fees or commissions were paid on the sale of the Units. The proceeds were used for general working capital.

These notes were extended to June 30, 2023 and as consideration the Company modified the outstanding warrants to extend the life an additional 1.67 years. As a result of the warrant modification, the Company recorded the incremental increase in fair value of $844,425 as a debt discount which were amortized over the new life of the notes.

Effective June 27, 2023, pursuant to an Allonge and Modification Agreement a Majority in Interest of the senior secured note holders agreed to extend the maturity date of the notes to December 31, 2024, relying upon an Agreement Among Lenders to which all noteholders are a party. As consideration effective July 1, 2023, the annual interest rate increased to 11% and the Company issued a new warrant for every $10 in principal totaling 177,500 of new warrants with an exercise price of $5 and an expiration date of December 31, 2025. As a result of the new warrants, the Company recorded the incremental increase in fair value of $84,352 as a debt discount which is being amortized over the life of the notes.

Effective December 31, 2024, pursuant to the Second Amended and Restated Allonge and Modification Agreement a Majority in Interest of the senior secured note holders agreed to extend the maturity date of the notes to December 31, 2025, relying upon an Agreement Among Lenders to which all noteholders are a party. As consideration effective January 1, 2025, the annual interest rate increased to 13% and the Company extended the 177,500 warrants previously issued with an original exercise price of $5 with a new expiration date of December 31, 2025 and new exercise price of $2.25.

Effective December 31, 2025, pursuant to the Third Amended and Restated Allonge and Modification Agreement a Majority in Interest of the senior secured note holders agreed to extend the maturity date of the notes to February 28, 2026, relying upon an Agreement Among Lenders to which all noteholders are a party. As consideration effective January 1, 2026, the annual interest rate remained at 13% and the Company extended the 177,500 warrants previously issued with a new expiration date of December 31, 2027 at an exercise price of $2.25. As a result of the warrant modification, the Company recorded the incremental increase in fair value of $252,970 as a loss on debt extinguishment. The Company evaluated the modification of the debt under criteria noted within ASC 470 and determined that the modification was determined substantial therefore a loss on extinguishment was determined attributed to the fair value of the warrants.

The Company evaluated the Amendment Agreement and the amendment was not required to be accounted for as a Troubled Debt Restructuring under ASC 470-60 as no concession was granted to the Company. The Company then evaluated the Second Amended and Restated Allonge and Modification Agreement was not required to be accounted for as an extinguishment under ASC 470-50, Debt – Modifications and Extinguishment. The Company recorded the debt as a modification. As a result of the new warrants, the Company recorded the incremental increase in fair value as a debt discount which is being amortized over the extended life of the notes of twelve months.

During the three months ended March 31, 2026 the Company paid off $775,000 attributed to the related party senior secured notes and $1,050,000 attributed to the non-related party senior secured notes.

**Mortgage Loans and Lines of Credit Secured by Real Estate**

Mortgage loans and other debts such as line of credit here are collateralized by all assets of each nursing home property and an assignment of its rents. Collateral for certain mortgage loans includes the personal guarantee of Christopher Brogdon, formerly but no longer a related party, or corporate guarantees. Mortgage loans for the periods presented consisted of the following:

SCHEDULE OF MORTGAGE LOAN DEBT

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | **Total Principal <br> Outstanding as of** | **Total Principal <br> Outstanding as of** |
| <br>**State** | **Number of**<br>**Properties** | **Total Face**<br>**Amount** | **March 31, 2026** | **December 31, 2025** |
| Arkansas<sup>(1)</sup> | 1 | $5000000 | $3501475 | $3571114 |
| Georgia<sup>(2)</sup> | 2 | $6689214 | $5184308 | $10924875 |
| Ohio<sup>(3)</sup> | 1 | $3000000 | $2423026 | $2439636 |
| Oklahoma<sup>(4)</sup> | 6 | $13181325 | $10997970 | $11808708 |
|  | 10 | $27870539 | $22106779 | $28744333 |

---

(1) The mortgage loan collateralized by this property is 80 % guaranteed by the USDA and requires an annual renewal fee payable in the amount
 of 0.25 % of the USDA guaranteed portion of the outstanding principal balance as of December 31 of each year. Guarantors under the mortgage loan include Christopher Brogdon. Mr. Brogdon has assumed operations of the facility and is making payments of principal
 and interest on the loan on our behalf in lieu of paying rent on the facility to us, until a formal lease can be put in place. During the periods ended March 31, 2026 and 2025, the Company recognized other income of $53,146 and $55,144 , respectively for repayments
 on the loan.

(2) The Company had refinanced two of its mortgages that would have matured in June and October of 2021 amounting to $2,961,167 and $3,289,595 ,
 and extended their maturity dates to May
 2024 for both. The Company entered into forbearance agreements that extended the maturity dates of the loans to December 31, 2025. Upon reaching maturity, both loans were in default and were therefore classified as current portion of long-term
 debt. Both loans were fully guaranteed by the Company. The loans were subsequently refinanced in February 2026 in the amounts of $2,710,624 and $2,473,684 ,
 with a new maturity date of June
 17, 2027 . The Company sold two of the facilities in January 2026 resulting in the repayment of $5,785,659 of outstanding principal. The Company sold an additional two of the facilities in May 2026 resulting in the repayment of $5,252,964 of
outstanding principal at the time of repayment, see Note 12.

(3) The Company refinanced its mortgage that would have matured in May of 2022 amounting to $3,000,000 and extend its maturity date to October
 2027.

(4) The Company refinanced three mortgages in July 2021, that would have matured in June and July of 2021 amounting to $2,065,969 and $750,000 ,
$500,000 , to extend their maturity dates to June 2027 . Additionally, the Company has refinanced the primary mortgage at the Southern
Hills Campus, for 35 years at 2.38 % with a maturity date of October 1, 2056 .

**Corporate and Other Debt**

The Company's corporate debt as of March 31, 2026 and December 31, 2025 includes unsecured notes and notes secured by all assets of the Company not serving as collateral for other notes.

SCHEDULE OF UNSECURED NOTES AND NOTES SECURED BY ALL ASSETS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Total Principal**<br> **Outstanding as of** | **Total Principal**<br> **Outstanding as of** | | |
| <br>**Series** | **Face**<br>**Amount** | **March 31, 2026** | **December 31, 2025** | **Stated Interest**<br> **Rate** | **Maturity**<br>**Date** |
| Senior Secured Promissory Notes | $1255000 | $- | $1050000 | 13% Fixed | February 28, 2026 |
| Promissory Note – Southern Bank | 545952 | 484094 | 541238 | 7.25% Fixed | December 12, 2030 |
| Senior Secured Promissory Notes – Related Party | 775000 | - | 775000 | 13% Fixed | February 28, 2026 |
|  | $2575952 | $484094 | $2366238 |  |  |

---

**Lines of Credits**

On April 12, 2024, the Company entered into a Commercial Line of Credit Agreement and Note with Southern Bank for a secured line of credit in the principal amount limit of $750,000 at a fixed interest rate of 8.50% per annum with a Maturity Date of April 12, 2025. In August 2025, the Commercial Line of Credit was converted into a Promissory Note and extended to December 12, 2030 with an interest rate of 7.25%.

In November 2024, the Company entered into another Commercial Line of Credit Agreement and Note with Southern Bank for a secured line of credit in the principal amount limit of $750,000 at a fixed interest rate of 7.75% per annum with a Maturity Date of November 14, 2025. In November 2025 the Company and Southern Bank agreed to extend the maturity date of the Commercial Line of Credit to December 14, 2026. The interest rate of the on the Commercial Line of Credit as of December 31, 2025 was 7.75%. The Company repaid the balance outstanding on the Commercial Line of Credit in January 2026.

As of March 31, 2026 and December 31, 2025, the balance outstanding on the Commercial Line of Credits is $0 and $325,192 and the amount available is approximately $750,000 and $425,000, respectively.

**Amortization of Debt Discount**

Amortization expense for debt issuance costs and debt discounts totaled $1,636 and $4,184 for the three months ended March 31, 2026 and 2025, respectively. As a result of the two facilities sold in Georgia, the Company expensed the unamortized loan costs associated with the debt in the amount of $231,196.

Future maturities and principal payments of all notes payable listed above for the next five years and thereafter are as follows:

SCHEDULE OF FUTURE MATURITIES OF NOTES PAYABLE

---

| | |
|:---|:---|
| **Year Ending December 31** | |
| 2026 (remaining nine months) | $8911513 |
| 2027 | 3052109 |
| 2028 | 456873 |
| 2029 | 472334 |
| 2030 | 483699 |
| Thereafter | 9214345 |
| Total (without debt discount) | $22590873 |

---

**5. STOCKHOLDERS' EQUITY (DEFICIT)**

**Preferred Stock**

The Company has authorized 10,000,000 shares of preferred stock. These shares may be issued in series with such rights and preferences as may be determined by the board of directors.

**Series A Convertible Redeemable Preferred Stock**

The Company's Board of Directors has authorized 2,000,000 shares of $2.00 stated value, Series A Preferred Stock. The preferred stock has a senior liquidation preference value of $2.00 per share and does not bear dividends.

As of March 31, 2026 and December 31, 2025, the Company has 200,500 shares of Series A Preferred Stock outstanding.

**Series D Convertible Preferred Stock**

The Company has established a class of preferred stock designated Series D Convertible Preferred Stock ("Series D preferred stock") and authorized an aggregate of 1,000,000 non-voting shares with a stated value of $1.00 per share. Holders of the Series D preferred stock are entitled to receive dividends at the annual rate of 8% based on the stated value per share computed on the basis of a 360-day year and twelve 30-day months. Dividends are cumulative, shall be declared quarterly, and are calculated from the date of issue and payable on the 15th day of April, July, October, and January. The dividends may be paid, at the option of the holder either in cash or by the issuance of shares of the Company's common stock valued at the market price on the dividend record date. Shares of the Series D preferred stock are redeemable at the Company's option. At the option of the holder, shares of the Series D preferred stock plus any declared and unpaid dividends are convertible to shares of the Company's common stock at a conversion rate of $1.00 per share.

As of March 31, 2026 and December 31, 2025, the Company had 325,000 and 375,000 shares of Series D Preferred Stock outstanding. During the three months ended March 31, 2026 the Company repurchased 50,000 shares of preferred stock for $50,000.

For the three months ended March 31, 2026, and 2025, the Company declared $7,500 and $15,000 in preferred dividends, respectively.

**Common Stock**

The Company's Board of Directors has authorized 800,000,000 shares of $0.05 par value, Class A Common Stock and 200,000,000 shares of $0.05 par value, Class B Common Stock. As of March 31, 2026 and December 31, 2025, the Company has 3,067,059 shares of common stock outstanding.

**Common Stock Warrants**

As of March 31, 2026 and December 31, 2025, the Company had 177,500 of outstanding warrants to purchase common stock at $2.25 and a weighted average remaining term of 1.75 years and 2.0 years, respectively. The aggregate intrinsic value of common stock warrants outstanding as of March 31, 2026 and December 31, 2025 was $346,125 and $0, respectively.

Activity for the three months ended March 31, 2026, related to common stock warrants is as follows:

SCHEDULE OF COMMON STOCK WARRANTS ACTIVITY

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** |
|  | **Number of**<br>**Warrants** | **Weighted Average**<br>**Exercise Price** |
| January 1, 2026 Balance | 177500 | $2.25 |
| Exercised |  |  |
| Expired | - | - |
| March 31, 2026 Balance | 177500 | $2.25 |

---

**6. GOODWILL**

Goodwill is tested for impairment at a reporting unit level on an annual basis or when an event occurs, or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. During the three months ended March 31, 2026 and 2025, the Company recorded no impairment of Goodwill.

Following is a summary of goodwill as of March 31, 2026 and December 31, 2025:

SCHEDULE OF ACTIVITIES IN GOODWILL

---

| | |
|:---|:---|
| **Balance, December 31, 2025** | $**1076908** |
| &nbsp;&nbsp;&nbsp;Additions |  |
| &nbsp;&nbsp;&nbsp;Transfer to assets held for sale | (697429) |
| **Balance, March 31, 2026** | $**379479** |

---

**7. ASSETS HELD FOR SALE**

 

*May 2026 Sale of Assets*

On March 5, 2026, the Company entered into a letter of intent to sell certain wholly-owned subsidiaries Global Abbeville Property, LLC and Dodge NH, LLC, each a Georgia limited liability company (each a "Seller") to execute and deliver a definitive Purchase and Sale Agreement ("March 2026 PSA") with two newly formed entities: Abbeville Crossing Propco of Journey LLC and Eastman Trails Propco of Journey LLC, each a Georgia limited liability company (each a "Purchaser"); pursuant to which each Seller agreed to sell substantially all of the real and personal property owned by each, namely the skilled nursing facilities for $15.7 million. The sale occurred in May 2026, refer to Note 12 Subsequent Events.

During the three months ended March 31, 2026, the Company reclassified $5.5 million of long lived assets and goodwill and $5.2 million of debt attributed to the March 2026 PSA related to the sale of the Company's two additional Georgia facilities. The Company measured the assets held for sale at the lower of their carrying value or fair value less the estimated costs to sell.

On May 1, 2026 the Company sold the two Georgia facilities for gross proceeds of $15.7 million and recognized a gain on sale of assets of $10.2 million.

The following table sets forth the assets held for sale at March 31, 2026 relating to the pending sale of the two Georgia facilities:

SCHEDULE OF ASSETS HELD FOR SALE

---

| | |
|:---|:---|
|  | **March 31, 2026** |
| Property and equipment, net | $4812381 |
| Goodwill | $697429 |
| Debt attributed to assets held for sale | $(5184308) |

---

The following table sets forth the assets held for sale at December 31, 2025 relating to the sale of the two Georgia facilities which closed in January 2026, see Note 8:

---

| | |
|:---|:---|
|  | **December 31, 2025** |
| Property and equipment, net | $4021156 |
| Debt attributed to assets held for sale | $(5554463) |
| Accounts payable attributed to assets held for sale | $(577055) |

---

**8. SALE OF ATL/WARR AND PROVIDENCE HR**

*January 2026 Sale of Assets*

On December 5, 2025, the Company entered into a letter of intent to sell certain wholly-owned subsidiaries (collectively the "Sellers") of the "Company ATL/WARR, LLC and PROVIDENCE HR, LLC, each a Georgia limited liability company, consummated a definitive Purchase and Sale Agreement (" January 2026 PSA") with GA SNF SPARTA GA LLC and GA SNF WARRENTON GA LLC, both limited liability companies in exchange for $13.2 million in cash.

During the fourth quarter of 2025, the Company reclassified $4.0 million of long lived assets and $5.5 million of debt and $0.6 million in accounts payable attributed to the January 2026 PSA related to the sale of the Company's two Georgia facilities. The Company measured the assets held for sale at the lower of their carrying value or fair value less the estimated costs to sell.

In January 2026 the Company sold the two Georgia facilities for gross proceeds of $13.2 million and recognized a gain on sale of assets of $8.9 million.

A summary of the sale is as follows:

---

| | |
|:---|:---|
| **Description** | **Amount** |
| Cash | $5401131 |
| Escrow Receivable | 1310000 |
| Notes Payable | 6047497 |
| G&A Closing Costs | 416732 |
| Sale Total | $13175000 |

---

As part of the sale of the properties, the Company recorded a gain on the sale of the properties. A summary of the gain is as follows:

---

| | |
|:---|:---|
| **Description** | **Amount** |
| Cash | $5401131 |
| Escrow Receivable | 1310000 |
| Notes Payable | 6047497 |
| Closing expenses and adjustments | 158837 |
| Land & Buildings | (4021156) |
| Total Gain on Sale | $8896309 |

---

**9. INCOME TAXES**

The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, the Company makes a cumulative adjustment in that quarter. The Company's quarterly tax provision, and its quarterly estimate of its annual effective tax rate, are subject to significant volatility due to several factors, including the Company's ability to accurately predict its pre-tax income and loss in multiple jurisdictions.

Income tax expense was $409,735 for the three months ended March 31, 2026. There was no income tax expense recorded for the three months ended March 31, 2025. The Company's income tax expense for the three months ended March 31, 2026 was primarily attributable to the gain on sale recognized during the period attributed to the sale of two of our Georgia facilities. The Company does not record a deferred tax provision as there is a full valuation allowance offsetting the Company's net deferred tax assets.

**10. LEGAL PROCEEDINGS**

The Company and/or its affiliated subsidiaries provide patient care at or through their facilities. As such, the Company and its affiliated subsidiaries are subject from time to time to claims of negligence resulting in injury or death to residents. The Company maintains comprehensive general liability insurance and professional liability insurance in sufficient amounts to cover most material exposure resulting from these claims. The cost of defense is generally covered by these liability policies subject to reasonable reserves and deductibles. Nevertheless the Company does have exposure to these claims which in some cases can be material. There can be no assurance that the Company's portfolio of insurance products will be adequate to cover all potential exposure or prevent material adverse financial losses.

**11. COMMITMENTS AND CONTINGENCIES**

*General and Professional Liability Insurance and Lawsuits*

The senior care industry has experienced significant increases in both the number of personal injury/wrongful death claims and in the severity of awards based upon alleged negligence by skilled nursing facilities and their employees in providing care to residents. The Company has been, and continues to be, subject to claims and legal actions that arise in the ordinary course of business, including potential claims related to patient care and treatment. The defense of these lawsuits *may* result in significant legal costs, regardless of the outcome, and can result in large settlement amounts or damage awards. The Company purchases insurance through third party providers that provides coverage for these claims.

There is certain additional litigation incidental to our business, none of which, based upon information available to date, would be material to our financial position, results of operations, or cash flows. In addition, the long–term care industry is continuously subject to scrutiny by governmental regulators, which could result in litigation or claims related to regulatory compliance matters.

*Governmental Regulations*

Laws and regulations governing the Medicare, Medicaid and other federal healthcare programs are complex and subject to interpretation. Management believes that it is following all applicable laws and regulations in all material respects. However, compliance with such laws and regulations can be subject to future government review and interpretation as well as significant regulatory action including fines, penalties, and exclusions from the Medicare, Medicaid and other federal healthcare programs.

**12. SUBSEQUENT EVENTS**

The Company evaluated subsequent events and transactions that occurred after the condensed consolidated balance sheet date up to the date that the unaudited condensed consolidated financial statements were issued. Based upon review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements, except as noted below:

*March 2026 Purchase and Sale Agreement*

Effective on March 5, 2026, the Company caused two of the Company's wholly-owned subsidiaries Global Abbeville Property, LLC and Dodge NH, LLC, each a Georgia limited liability company (each a "Seller") to execute and deliver the March 2026 PSA with two newly formed entities: Abbeville Crossing Propco of Journey LLC and Eastman Trails Propco of Journey LLC, each a Georgia limited liability company (each a "Purchaser"); pursuant to which each Seller agreed to sell substantially all of the real and personal property owned by each, namely the skilled nursing facilities located at 206 Main Street E, Abbeville, Georgia, upon which is located that certain 101-bed skilled nursing facility commonly known as "Glen Eagle Healthcare and Rehab" (the "Glen Eagle Facility"); and at 556 Chester Highway, Eastman, Georgia, upon which is located that certain 100-bed skilled nursing facility commonly known as "Eastman Healthcare and Rehab" (the "Eastman Facility", and together with the Glen Eagle Facility, the "Facilities").

On May 1, 2026, the Seller consummated the March 2026 PSA with GA SNF ABBEVILLE GA LLC and GA SNF EASTMAN GA LLC. The purchase price to be paid by Purchaser for the two (2) Facilities under the PSA. was an aggregate of $15.7 million, subject to certain prorations, holdbacks and adjustments customary in transactions of this nature. Net proceeds received at closing, after payment of mortgage debt and other liabilities, were approximately $9 million excluding $1.57 million of escrows established at closing, which may be released to Sellers in the future unless Purchaser asserts claims for indemnity under the PSA. The Sellers retained the right to pursue and collect amounts from tenants relating to pre-closing periods (including amounts relating to pre-closing periods that have been deferred and are to be repaid by tenants sometime after the closing date).

Concurrently with the consummation of the PSA, the controlled lease operators of the Facilities ("Old Operators") consummated an Operations Transfer Agreement ("OTA") with controlled subsidiaries of the Purchasers ("New Operators") under which all assets and operations of Old Operators were transferred to New Operators. No additional or separate consideration was paid by New Operators for the assets and operations so assigned.

**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

The following is Management's Discussion and Analysis of Financial Condition and Results of Operations and should be read in conjunction with the interim financial statements and notes thereto contained in this report. This section contains forward-looking statements, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based. These forward-looking statements generally are identified by the words "believes," "projects," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Forward-looking statements that were true at the time made may ultimately prove to be incorrect or false. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise. All forward-looking statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC.

Actual future results and trends may differ materially from expectations depending on a variety of factors discussed in our filings with the SEC. These factors include without limitation:

\* strategic business relationships;

\* statements about our future business plans and strategies;

\* anticipated operating results and sources of future revenue;

\* our organization's growth;

\* adequacy of our financial resources;

\* development of markets;

\* competitive pressures;

\* changing economic conditions; and

\* expectations regarding competition from other companies.

Although we believe that any forward-looking statements, we make in this Quarterly Report are reasonable, because forward-looking statements involve future risks and uncertainties, there are factors that could cause actual results to differ materially from those expressed or implied. For example, a few of the uncertainties that could affect the accuracy of forward-looking statements, besides the specific factors identified above in the Risk Factors section of this Quarterly Report, include:

\* changes in general economic and business conditions affecting the healthcare industry;

\* developments that make our facilities less competitive;

\* changes in our business strategies;

\* the level of demand for our facilities; and

\* regulatory changes affecting the healthcare industry and third-party payor practices.

**Properties**

As of March 31, 2026, we owned ten (10) long-term care facilities including a campus of three buildings in Tulsa, OK. The following table provides summary information regarding these facilities at March 31, 2026:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Total Square Feet** | **Total Square Feet** | **# of Beds** | **# of Beds** |
| <br>**State** |<br>**Properties** |<br>**Operations** |<br>**Leased**<br> **Operations** | **Operating Square Feet** | **Leased Square**<br> **Feet** | **Operating**<br> **Beds** | **Leased**<br> **Beds** |
| Arkansas | 1 |  | 1 |  | 40737 |  | 141 |
| Georgia (1) | 2 | 2 |  | 63616 |  | 201 |  |
| Ohio | 1 |  |  | 27500 |  | 99 |  |
| Oklahoma | 6 | 5 | - | 162976 | - | 412 | - |
| **Total** | **10** | **7** | **1** | **254092** | **40737** | **712** | **141** |

---

(1) As
 a result of the sale of Goodwill Hunting LLC on June 18, 2024 the Company had no more operating leases recorded on its consolidated
 balance sheet.

Effective December 5, 2025, the Company executed two Purchase and Sale Agreements, and corresponding Operations Transfer Agreements, pursuant to which the Company agreed to sell to an unrelated third party, two (2) of the Company's skilled nursing facilities in the State of Georgia: Warrenton and Sparta. The completion of the sale of the PSA's resulted in the Company having two (2) remaining facilities in the State of Georgia. The Company closed on this transaction in January 2026.

Effective March 5, 2026, the Company executed two Purchase and Sale Agreements, and corresponding Operations Transfer Agreements, pursuant to which the Company agreed to sell to an unrelated third party, the Company's remaining two (2) skilled nursing facilities in the State of Georgia: Glen Eagle and Eastman. This transaction closed in May 2026, therefore the Company would no longer own any healthcare facilities in the State of Georgia.

**RESULTS OF OPERATIONS**

The following discussion of the financial condition, results of operations, cash flows, and changes in our financial position should be read in conjunction with our interim consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q.

---

| | | |
|:---|:---|:---|
|  | **Three Months Ended**<br> **March 31,** | **Three Months Ended**<br> **March 31,** |
|  | **2026** | **2025** |
| **Revenue** |  |  |
| Healthcare revenue | $7181161 | $10486939 |
| Management Fee Revenue | 107441 |  |
| **Total Revenue** | 7288602 | 10486939 |
| **Expenses** |  |  |
| Property taxes, insurance and other operating | 6068043 | 8080969 |
| General and administrative | 2129484 | 2365088 |
| Provision for credit losses | 20357 | 99608 |
| Depreciation | 333211 | 363020 |
| Total Expenses | 8551095 | 10908685 |
| **Loss from Operations** | (1262493) | (421746) |
| **Other (income) expense** |  |  |
| Gain on sale of asset | (8896309) |  |
| Interest expense, net | 923784 | 542667 |
| Other income | (226085) | (308444) |
| Total other (income) expense | (8198610) | 234223 |
| Income (loss) before income taxes | 6936117 | (655969) |
| Provision for income taxes | 409735 | - |
| **Net Income (Loss)** | $6526382 | $(655969) |

---

**Three Months Ended March 31, 2026, Compared to the Three Months Ended March 31, 2025**

***Revenues***

*Healthcare Revenue*

Healthcare revenue for the three months ended March 31, 2026 was $7,181,161, compared to $10,486,939 for the three months ended March 31, 2025, a decrease of $3,305,778 or 32%. Healthcare revenues decreased due to the sale of two of our Georgia facilities in mid-January 2026.

*Management Fee Revenue*

Management fee revenue for the three months ended March 31, 2026 was $107,441 compared to $0 for the three months ended March 31, 2025, an increase of $107,441 or 100%. Management fee revenues increased due to the start of a management fee arrangement in November 2025.

***Operating Expenses***

*Property Taxes, Insurance, and Other Operating*

Property taxes, insurance, and other operating expenses was $6,068,043 for the three months ended March 31, 2026, compared to $8,080,969 for the three months ended March 31, 2025, a decrease of $2,012,926 or 25%. This decrease can be attributed to lower operating cost and the sale of our two Georgia facilities.

*General and Administrative*

General and administrative expenses was $2,129,484 for the three months ended March 31, 2026, compared to $2,365,088 for the three months ended March 31, 2025, a decrease of $235,604 or 10%. The decrease can be attributed to a decrease in salary and benefits expense.

*Provision for Credit Losses*

Provision for credit losses was $20,357 for the three months ended March 31, 2026, compared to $99,608 for the three months ended March 31, 2025, a decrease of $79,251 or 80%. The change can be attributed to the improvement made on collections and less accounts receivable outstanding due to the sale of two of our facilities during the three months ended March 31, 2026.

*Depreciation*

Depreciation expense was $333,211 for the three months ended March 31, 2026, compared to $363,020 for the three months ended March 31, 2025, a decrease of $29,809 or 8%. This decrease is related to an increase in fully depreciated assets along with assets sold at our two Georgia facilities as compared to the same period in the prior year.

***Other Income (Expense)***

*Gain on Sale of Asset*

Gain on sale of asset was income of $8,896,309 for the three months ended March 31, 2026, compared to $0 for the three months ended March 31, 2025. The increase was the result of the gain recognized due to the completion of the sale of our two Georgia facilities.

 

*Interest Expense, Net*

Interest expense, net was $923,784 for the three months ended March 31, 2026, compared to $542,667 for the three months ended March 31, 2025, an increase of 381,117 or 70%. The increase was due higher interest rates on our debt compared to the prior year in addition due prepayment premium fees and fees attributed to the payoff of debt.

*Other Income*

Other income was $226,085 for the three months ended March 31, 2026, compared to $308,444 for the three months ended March 31, 2025, a decrease of $82,359 or 27%. This is primarily related to recording the principal reduction payments made by the operator for the Arkansas facility as other income. We will continue to record this as the operator continues to satisfy the debt.

*Provision for income taxes*

Income tax expense was $409,735 for the three months ended March 31, 2026, compared to $0 for the three months ended March 31, 2025. Income tax expense was the result of the gain recognized due to the completion of the sale of our two Georgia facilities.

**LIQUIDITY AND CAPITAL RESOURCES**

**Current Financial Condition**

Throughout its history, the Company has experienced shortages in working capital and has relied, from time to time, upon sales of debt and equity securities to meet cash demands generated by our acquisition activities.

At March 31, 2026, the Company had cash of $1,286,452 and restricted cash of $192,129. Our restricted cash is to be expended on repairs and capital expenditures associated with Warrenton Health and Rehab facilities and decreased from December 31, 2025 as a result of the sale of two of our Georgi facilities. Our liquidity is expected to increase from potential equity and debt offerings and decrease as net offering proceeds are expended in connection with our various property improvement projects. Our continuing short-term liquidity requirements consisting primarily of operating expenses and debt service requirements, excluding balloon payments at maturity, are expected to be achieved from healthcare operations, rental revenues received, and existing cash on hand.

As reflected in our condensed consolidated financial statements included elsewhere in this Quarterly Report, we have a history of losses and incurred a net loss of $1.0 million for the year ended December 31, 2025 and had a working capital deficiency of $6.5 million as of March 31, 2026. These factors, among others, raise substantial doubt about our ability to continue as a going concern within one year from the date that the financial statements are issued. Our consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern. Our ability to continue as a going concern is dependent on our ability to execute our strategy and on our ability to raise additional funds through the sale of equity and/or debt securities via public and/or private offerings. There can be no assurance that management's attempts at any or all of these endeavors will be successful.

Our long-term ability to continue as a going concern is dependent upon our ability to increase revenue, reduce costs, achieve a satisfactory level of profitable operations, and obtain additional sources of suitable and adequate financing. Our ability to continue as a going concern is also dependent its ability to further develop and execute on our business plan (including possible asset sales). We may also have to reduce certain overhead costs through the reduction of salaries and other means and settle liabilities through negotiation. There can be no assurance that management's attempts at any or all of these endeavors will be successful.

**Sources of Liquidity**

The Company's current sources of liquidity include the sale of it's properties. During the three months ended March 31, 2026 the Company received gross proceeds of $13.2 million as a result of the sale of two of our Georgia Facilities. In addition, on May 1, 2026, the Company received gross proceeds of $15.7 million as a result of the sale of an additional two of our Georgia Facilities.

As of March 31, 2026 and December 31, 2025, our debt balances consisted of the following:

---

| | | |
|:---|:---|:---|
|  | **March 31, 2026** | **December 31, 2025** |
| Senior Secured Promissory Notes | $- | $1591238 |
| Promissory Note | 484094 |  |
| Senior Secured Promissory Notes - Related Parties |  | 775000 |
| Fixed-Rate Mortgage Loans | 17698311 | 24258870 |
| Variable-Rate Mortgage Loans | 4408468 | 4485462 |
| Line of Credit | - | 325192 |
|  | 22590873 | 31435762 |
| Unamortized Discount and Debt Issuance Costs | (202368) | (435200) |
|  | $22388505 | $31000562 |
| As presented in the Consolidated Balance Sheets: |  |  |
| Current Maturities of Long-Term Debt, Net | $3876312 | $10938102 |
| Current Maturities of Long-Term Debt, Net classified within liabilities held for sale (1) | 5184308 | 5554463 |
| Short Term Debt – Related Parties, Net |  | 775000 |
| Line of Credit - Current |  | 325192 |
| Long-Term Debt | 13327885 | 13407805 |
|  | $22388505 | $31000562 |

---

The weighted average interest rate and term of our fixed rate debt are 6.41% and 13.19 years, respectively, as of March 31, 2026. The weighted average interest rate and term of our variable rate debt are 8.35% and 11.88 years, respectively, as of March 31, 2026.

The weighted average interest rate and term of our fixed rate debt are 6.21% and 13.76 years, respectively, as of December 31, 2025. The weighted average interest rate and term of our variable rate debt are 8.35% and 12.12 years, respectively, as of December 31, 2025.

**Sources and Uses of Cash**

The following table provides information regarding our cash flows for the three months ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
|  | **Three months ended March 31,** | **Three months ended March 31,** |
|  | **2026** | **2025** |
| Net cash (used in) provided by operating activities | $(2289812) | $1035411 |
| Net cash provided by (used in) investing activities | 5023930 | (219240) |
| Net cash used in financing activities | (3109230) | (182439) |
| Net change in cash and cash equivalents and restricted cash | $(375112) | $633732 |

---

***Cash Flows (Used In) Provided By Operating Activities***

Cash flows used operating activities was $2,289,812 for the three months ended March 31, 2026, compared to cash provided $1,035,411 for the three months ended March 31, 2025. The decrease primarily resulted from our change in net loss during the prior period of $655,969 compared to income of $6,526,382, a $7,182,351 change. This change was offset by a non-cash adjustment of $8,776,721 which is primarily due to a change of $8,896,309 attributed to a gain on sale of assets. The change in working capital accounts year-over-year was $1,730,853 which is primarily due to our change in accounts payable and accrued liabilities, liabilities held for sale and other liabilities offset by a changes attributed to accounts receivable and prepaid expenses and other assets.

***Cash Flows Provided By (Used In) Investing Activities***

Cash provided by investing activities was $5,023,930 for the three months ended March 31, 2026, compared to cash used of $219,240 for the three months ended March 31, 2025. Cash provided by investing activities can be attributed to the proceeds received from the sale of our two Georgia facilities. The cash used in investing activities during the three months ended March 31, 2025 was attributed to purchases of property and equipment.

***Cash Flows Used In Financing Activities***

Cash used in financing activities was $3,109.230 for the three months ended March 31, 2026, compared to $182,439 for the three months ended March 31, 2025. The increase in cash used in finance activities can be attributed to repayments made on our line of credit and senior secured notes.

**Critical Accounting Policies and Estimates**

The preparation of consolidated financial statements requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements. Estimates and assumptions are continually evaluated and are based on historical experience and management's assessment of current events and other facts and circumstances that are considered to be relevant. Actual results could differ from these estimates.

Our critical accounting estimates reflecting management's estimates and judgments are described in our Annual Report on Form 10-K for the year ended December 31, 2025. We have reviewed recently issued accounting pronouncements and are evaluating the potential impact, if any, on our condensed consolidated financial statements. Accordingly, there have been no material changes to critical accounting policies and estimates as disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025.

**Recently Issued Accounting Pronouncements**

The FASB and other entities issued new or modifications to, or interpretations of, existing accounting guidance during 2026. Management has carefully considered the new pronouncements that altered generally accepted accounting principles and does not believe that any other new or modified principles will have a material impact on the Company's reported financial position or operations in the near term.

**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

Not applicable.

**ITEM 4. CONTROLS AND PROCEDURES**

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized, and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to management, as appropriate, to allow timely decisions regarding required disclosure. Management necessarily applied its judgment in assessing the costs and benefits of such controls and procedures, which, by their nature, can provide only reasonable assurance regarding management's control objectives.

Our management, including our Interim CEO and CFO, evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this Report. Based on this evaluation, our Interim CEO and CFO concluded that the design and operation of our disclosure controls and procedures were not effective as of such date to provide assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and that such information is accumulated and communicated to management as appropriate, to allow timely decisions regarding disclosures.

Management noted the following deficiency that we believe to be a material weakness:

● Lack of a formal review process that includes multiple levels of review as well as timely review of accounts and reconciliations leading to material post-closing adjustments.

In light of the material weakness described above, we performed additional analysis deemed necessary to ensure that our unaudited interim financial statements were prepared in accordance with U.S. generally accepted accounting principles. Accordingly, management believes that the financial statements included in this Quarterly Report on Form 10-Q present fairly in all material respects our financial position, results of operations and cash flows for the periods presented. The Company plans to implement multi-level review in 2026, and management intends to work internally and with various third-parties to ensure we have the proper controls in place going forward.

There was no change in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) that occurred during the quarter ended March 31, 2026, that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**PART II**

**OTHER INFORMATION**

**Item 1. Legal Proceedings**

For a discussion of prior, current, and pending litigation of material significance to the Company, please see Note 10, Legal Proceedings, of this Form 10–Q.

**Item 1A. Risk Factors**

Not required for small reporting companies

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

Not applicable.

**Item 3. Defaults Upon Senior Securities**

None.

**Item 4. Mine Safety Disclosures**

Not applicable.

**Item 5. Other Information**

None.

**Item 6. Exhibits**

---

| | |
|:---|:---|
| 31.1 | [Certification of Chief Executive Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002\*](ex31-1.htm) |
| 31.2 | [Certification of Chief Financial Officer Pursuant to Section 302 of Sarbanes-Oxley Act of 2002\*](ex31-2.htm) |
| 32.1 | [Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\*](ex32-1.htm) |
| 32.2 | [Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\*](ex32-2.htm) |
| 101.INS | Inline XBRL Instance Document\*\* |
| 101.SCH | Inline XBRL Schema Document\*\* |
| 101.CAL | Inline XBRL Calculation Linkbase Document\*\* |
| 101.LAB | Inline XBRL Label Linkbase Document\*\* |
| 101.PRE | Inline XBRL Presentation Linkbase Document\*\* |
| 101.DEF | Inline XBRL Definition Linkbase Document\*\* |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

\* filed herewith

\*\* furnished, not filed

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Quarterly Report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **SELECTIS HEALTH, INC** | **SELECTIS HEALTH, INC** |
| Date: May 22, 2026 | By: | */s/ Krystal Eckhart* |
|  |  | Krystal Eckhart, Interim Chief Executive Officer |
|  |  | (Principal Executive Officer) |
| Date: May 22, 2026 | By: | */s/ Krystal Eckhart* |
|  |  | Krystal Eckhart, Interim Chief Financial Officer |
|  |  | (Principal Financial Officer) |

---

## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION**

I, Krystal Eckhart, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I
 have reviewed this Quarterly Report on Form 10-Q of Selectis Health, Inc.

2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
 to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to
 the period covered by this report;

3. Based
 on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
 respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in
 this report;

4. The
 registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures
 (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange
 Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
 to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
 within those entities, particularly during the period in which this report is being prepared;

(b) Designed
 such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
 supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
 for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about
 the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
 and

(d) Disclosed
 in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's
 most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected,
 or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The
 registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over
 financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or
 persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are
 reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information;
 and

(b) Any
 fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
 internal control over financial reporting.

---

| | |
|:---|:---|
| Date: May 22, 2026 | */s/ Krystal Eckhart* |
|  | Krystal Eckhart, Interim Chief Executive Officer<br> (Principal Executive Officer) |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION**

I, Krystal Eckhart, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I
 have reviewed this Quarterly Report on Form 10-Q of Selectis Health, Inc.

2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
 to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to
 the period covered by this report;

3. Based
 on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
 respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in
 this report;

4. The
 registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures
 (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange
 Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
 to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
 within those entities, particularly during the period in which this report is being prepared;

(b) Designed
 such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
 supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
 for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about
 the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
 and

(d) Disclosed
 in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's
 most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected,
 or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The
 registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over
 financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or
 persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are
 reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information;
 and

(b) Any
 fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
 internal control over financial reporting.

---

| | |
|:---|:---|
| Date: May 22, 2026 | */s/ Krystal Eckhart* |
|  | Krystal Eckhart, Interim Chief Financial Officer<br> (Principal Accounting Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of Selectis Health, Inc. (the "Company") on Form 10-Q for the period ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Krystal Eckhart, Interim Chief Executive Officer (Principal Executive Officer) of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The
 Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The
 information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of
 the Company.

Date: May 22, 2026

---

| |
|:---|
| */s/ Krystal Eckhart* |
| Krystal Eckhart, Interim Chief Executive Officer |
| (Principal Executive Officer) |

---

## Exhibit 32.2

**Exhibit 32.2**

**Selectis Health, Inc.**

**Certification Pursuant to**

**18 U.S.C. Section 1350**

**(as Adopted Pursuant to Section 906 of**

**the Sarbanes-Oxley Act Of 2002)**

In connection with the Quarterly Report of Selectis Health, Inc. (the "Company") on Form 10-Q for the quarter period ended March 31, 2026, as filed with the Securities and Exchange Commission (the "Report"), I, Krystal Eckhart, Interim Chief Financial Officer (Principal Accounting Officer) of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1. The
 Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The
 information contained in the Report fairly presents, in all material respects, the financial condition and results of operations
 of the Company.

Date: May 22, 2026

---

| |
|:---|
| */s/ Krystal Eckhart* |
| Krystal Eckhart, Interim Chief Financial Officer |
| (Principal Accounting Officer) |

---