U.S. NeuroSurgical Holdings, Inc. Files 2023 10-K

TL;DR

<b>U.S. NeuroSurgical Holdings, Inc. has filed its 2023 10-K report detailing its operations and financial standing.</b>

AI Summary

U.S. NeuroSurgical Holdings, Inc. (EHSI) filed a Annual Report (10-K) with the SEC on April 5, 2024. Filed 10-K for the fiscal year ending December 31, 2023. Company is U.S. NeuroSurgical Holdings, Inc., SIC code 8093. Incorporated in Delaware, with principal business address in Rockville, MD. Previous company name was US NEUROSURGICAL INC, name change effective June 30, 1999. Subsequent event on March 22, 2024, involved a private placement.

Why It Matters

For investors and stakeholders tracking U.S. NeuroSurgical Holdings, Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess its current health and future prospects. The inclusion of a subsequent event regarding a private placement on March 22, 2024, indicates recent corporate activity that could impact the company's financial structure or strategic direction.

Risk Assessment

Risk Level: low — U.S. NeuroSurgical Holdings, Inc. shows low risk based on this filing. The filing is a standard 10-K report with no immediate red flags, indicating routine disclosure.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-05 — Filing Date (Date of submission)
• 1999-06-30 — Name Change Date (Effective date of former name change)
• 2024-03-22 — Subsequent Event Date (Date of private placement)

Key Players & Entities

• U.S. NeuroSurgical Holdings, Inc. (company) — Filer name
• EHSI (company) — Ticker symbol
• 2024-04-05 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• Rockville, MD (location) — Business address city and state
• US NEUROSURGICAL INC (company) — Former company name
• 1999-06-30 (date) — Date of name change
• 2024-03-22 (date) — Subsequent event date

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-05: Filing Date — Date the 10-K was officially submitted to the SEC.
• 1999-06-30: Name Change — Effective date of the company's name change from US NEUROSURGICAL INC.
• 2024-03-22: Subsequent Event — Date of a private placement, a significant post-fiscal year-end event.

Key Financial Figures

• $2 million — st quarter of 2024 raised approximately $2 million dollars in a private placement of its C
• $0 — stment of NeuroPartners LLC and CGK was $0. During the year ended December 31, 202
• $133,000 — of NeuroPartners LLC and CGK was $0 and $133,000, respectively. At December 31, 2023 and
• $7,000 — e from these related parties was $0 and $7,000, respectively. 7 Table of Contents
• $225,000 — are foot building. The Company invested $225,000 initially and had a 22.5% interest in B
• $189,000 — mpany's recorded investment in BOPRE is $189,000 and $157,000, at December 31, 2023 and
• $157,000 — ded investment in BOPRE is $189,000 and $157,000, at December 31, 2023 and 2022, respect
• $3,000,000 — his mortgage had an original balance of $3,000,000 and is secured by the medical office bu
• $173,000 — vestor in MOP and a co-investor in FOP, $173,000. Dr. Lozano used these funds, along wit
• $345,000 — ual amount of his own funds (a total of $345,000), to purchase a 76.67% interest in MOP.
• $105,000 — in MOP. Other investors paid a further $105,000 for the remaining equity in MOP. MOP us
• $450,000 — e remaining equity in MOP. MOP used the $450,000 of financing to acquire a 100% equity i
• $161,000 — f MOP with an initial carrying value of $161,000. The Company recorded its share of loss
• $12,000 — Company recorded its share of losses of $12,000 for the period from December 22, 2016 t
• $149,000 — a reduction of its equity investment to $149,000. Due to increasing costs, continued ne

Filing Documents

• ef20015308_10k.htm (10-K) — 1085KB
• ef20015308_ex21-1.htm (EX-21.1) — 5KB
• ef20015308_ex31-1.htm (EX-31.1) — 12KB
• ef20015308_ex32-1.htm (EX-32.1) — 4KB
• 0001140361-24-018303.txt (&nbsp;) — 5573KB
• usnu-20231231.xsd (EX-101.SCH) — 34KB
• usnu-20231231_cal.xml (EX-101.CAL) — 51KB
• usnu-20231231_def.xml (EX-101.DEF) — 176KB
• usnu-20231231_lab.xml (EX-101.LAB) — 426KB
• usnu-20231231_pre.xml (EX-101.PRE) — 296KB
• ef20015308_10k_htm.xml (XML) — 856KB

Selected Financial Data

Selected Financial Data 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 29 Item 7A. Qualitative and Quantitative Disclosures About Market Risk. 30 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. 31 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 51 Item 9A.

Controls and Procedures

Controls and Procedures. 51 Item 9B. Other Information. 52 PART III 53 Item 10. Directors, Executive Officers and Corporate Governance. 53 Item 11.

Executive Compensation

Executive Compensation. 54 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 55 Item 13. Certain Relationships and Related Transactions, and Director Independence. 56 Item 14. Principal Accounting Fees and Services. 56 PART IV 57 Item 15. Exhibits, Financial Statement Schedules. 57 Table of Contents PART I Item 1. Business. U.S. NeuroSurgical Holdings, Inc. through its wholly-owned subsidiaries, holds interests in radiological treatment facilities and, more recently, has been developing a business to provide Medicare Advantage plans, concentrating initially in Nevada and California. As used herein, unless the context indicates otherwise, the term "Company", "Registrant" and "Holdings" means U.S. NeuroSurgical Holdings, Inc. and its wholly-owned subsidiary, U.S. NeuroSurgical, Inc. ("USN"), and the wholly-owned subsidiaries of USN, U.S. NeuroSurgical Physics, Inc., USN Corona, Inc., Elite Health Plan, Inc. and Elite Health Plan of Nevada, Inc. Organizational Background USN, a Delaware corporation, was formed in July 1993. Until September 1999, USN was a wholly owned subsidiary of GHS, Inc. ("GHS"). Effective September 17, 1999, GHS distributed its shares of USN to the stockholders of GHS. On September 3, 2015, pursuant to the Agreement and Plan of Reorganization (the "Merger Agreement"), dated as of September 3, 2015, by and among USN, Holdings and U.S. NeuroSurgical Merger Sub, Inc. ("Merger Sub"), the Company adopted a new holding company organizational structure whereby USN is now a wholly owned subsidiary of Holdings. This structure did not result in any changes to the assets or operations of the Company, but management believes that it will create a more flexible framework for possible future transactions and organizational and operational adjustments. The holding company organizational structure was implemented through a merger (the "Merger") conducted pursuant to Section 251(g) of the Delaware General Corporati

View Full Filing

View this 10-K filing on SEC EDGAR