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Comprehensive Healthcare Systems Inc. Provides Update on Delay in Filing of Annual Financial Statements
Calgary, Alberta--(Newsfile Corp. - July 2, 2024) - Comprehensive Healthcare Systems Inc. (TSXV: ...
About this update from Comprehensive Healthcare Systems Inc
[{"type":"text","content":"Comprehensive Healthcare Systems Inc. Provides Update on Delay in Filing of Annual Financial StatementsCalgary, Alberta--(Newsfile Corp. - July 2, 2024) - Comprehensive Healthcare Systems Inc. (TSXV: CHS) (the \"Company\" or \"CHS\"), an industry leader in healthcare benefits administration software and services, is pleased to provide an update on the delay in filing of its annual audited financial statements, associated MD&A and officer certifications (the \"Annual Filings\") for the fiscal year ended December 31, 2023, which were due on April 29, 2024..The Company has advised that since the last update there has been significant progress in terms of raising capital as well as new Client Acquisition. The largest shareholder has tentatively agreed to infuse capital and details will be shared shortly. This would address the immediate need for the audit and other essential matters. Further, the issuer continues to make significant progress improving Revenue Collections and Cost Re-engineering while enhancing Client Support and Retention. The company looks to update progress status in our next communication. The Company intends to satisfy the provisions of the alternative information guidelines set forth in sections 9 and 10 of National Policy 12-203 - Management Cease Trade Orders so long as it remains in default of the Annual Filings, and so long as it anticipates or is in default of the Interim Filings. The Company further advises that it is not subject to any insolvency proceedings, and that there is no other material information concerning the affairs of the Company at this time that has not been generally disclosed.About Comprehensive Healthcare Systems Inc.Comprehensive Healthcare Systems Inc. is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The Company is a vertically integrated software as a services (SaaS) company focused on digitizing healthcare with Healthcare Benefits Administration solutions, providing reliable and high-volume transaction capable systems. The Company's state-of-the-art Novus 360 Healthcare Welfare and Benefits Administration (HWBA) SaaS platform is used by clients for all aspects of healthcare benefits administration (including self-funded employers, providers, and labor unions), providing healthc...