Welsis Corp., a development-stage company specializing in online psychological help services, has released its Form 10-Q report for the first quarter of 2024. The report provides insights into the company's financial performance and operational developments, reflecting its ongoing efforts to expand its telehealth platform, 'Psychologist-24'.
Financial Highlights
- Revenue: $2,000. The company recognized consulting revenue for the three months ended March 31, 2024.
- Net Income (Loss): $39,975. The company reported net income for the three months ended March 31, 2024, compared to a net loss of $27,825 during the same period in 2023. This improvement was primarily due to a gain on debt forgiveness.
- Net Income (Loss): $26,711. For the six months ended March 31, 2024, the company recognized net income compared to a net loss of $37,036 during the same period in 2023.
- Net Loss Per Share, Basic and Diluted: $0.01. The company reported a net income per share for the three months ended March 31, 2024.
Business Highlights
- Company Overview: Welsis Corp. is focused on providing online psychological help services through its telehealth platform, 'Psychologist-24', which offers on-demand professional psychological consultations via mobile devices, the internet, video, and phone calls.
- Service Offerings: The company provides counseling and psychological services for adolescents (from 14 years) and adults, including therapy for individuals, couples, and families. They also plan to offer services to specific communities, such as corporate group sessions or individual ones.
- Operational Status: The 'Psychologist-24' platform is functional and ready for initial clients but requires further extension and improvement due to its limited functionality.
- Management Changes: On April 1, 2024, Skywest Pinnacle Limited acquired a 73% stake in Welsis Corp., leading to a change in control. Dusan Zindovic resigned as the sole officer and director, and Kwok Boon Kit was appointed as the new Chief Executive Officer, Treasurer, Secretary, and Director.
- Future Outlook: The company anticipates needing additional capital to meet long-term operating requirements and plans to raise funds through equity or debt securities. They expect working capital requirements to increase with business growth and intend to finance these through further issuances of securities and debt instruments.
SEC Filing: