Pacific Health Care Organization Inc. Files Quarterly Report (10-Q)

TL;DR

<b>Pacific Health Care Organization, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, confirming its status as a smaller reporting company.</b>

AI Summary

PACIFIC HEALTH CARE ORGANIZATION INC (PFHO) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Pacific Health Care Organization, Inc. filed a Form 10-Q for the quarterly period ended March 31, 2024. The company is incorporated in Utah and has an IRS Employer Identification No. of 87-0285238. Its principal executive offices are located at 19800 MacArthur Boulevard, Suites 306 & 307, Irvine, California 92612. The company has confirmed it has filed all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days. Pacific Health Care Organization, Inc. is classified as a non-accelerated filer and a smaller reporting company.

Why It Matters

For investors and stakeholders tracking PACIFIC HEALTH CARE ORGANIZATION INC, this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the first quarter of 2024. As a smaller reporting company, this filing is crucial for investors to assess the company's financial health and compliance with SEC regulations.

Risk Assessment

Risk Level: low — PACIFIC HEALTH CARE ORGANIZATION INC shows low risk based on this filing. The filing is a routine quarterly report (10-Q) and does not contain significant new financial data or strategic changes that would indicate elevated risk.

Analyst Insight

Monitor future 10-Q filings for detailed financial performance and operational updates from Pacific Health Care Organization, Inc.

Key Numbers

• 20240331 — Quarterly Period End Date (Form 10-Q)
• 20240513 — Filing Date (Form 10-Q)
• 870285238 — IRS Number (Company Data)
• 000-50009 — SEC File Number (Company Data)

Key Players & Entities

• PACIFIC HEALTH CARE ORGANIZATION, INC. (company) — Filer name
• March 31, 2024 (date) — Quarterly Period Ended
• 0001185185-24-000485 (filing_id) — Accession Number
• 19800 MacArthur Boulevard, Suites 306 & 307 (address) — Principal executive offices
• Irvine (location) — City of principal executive offices
• California (location) — State of principal executive offices
• 92612 (zip_code) — Zip code of principal executive offices
• 000-50009 (filing_id) — Commission File Number

FAQ

Industry Context

The company operates within the health and allied services sector, providing services that are not elsewhere classified.

Regulatory Implications

The filing is made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, requiring quarterly reporting.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Track future SEC filings from Pacific Health Care Organization, Inc. for ongoing financial and operational insights.
3. Assess the company's classification as a smaller reporting company and its implications for financial reporting requirements.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-13: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the quarterly report for the period ending March 31, 2024. No comparative data from a previous filing is presented in this header section.

Key Financial Figures

• $0 — 0,000 shares of common stock, par value $0.001, issued and outstanding. PACIFIC H

Filing Documents

• pacifichco20240331_10q.htm (10-Q) — 680KB
• ex_671466.htm (EX-31.1) — 11KB
• ex_671467.htm (EX-31.2) — 11KB
• ex_671468.htm (EX-32.1) — 6KB
• 0001185185-24-000485.txt (&nbsp;) — 2841KB
• pfho-20240331.xsd (EX-101.SCH) — 24KB
• pfho-20240331_cal.xml (EX-101.CAL) — 30KB
• pfho-20240331_def.xml (EX-101.DEF) — 105KB
• pfho-20240331_lab.xml (EX-101.LAB) — 202KB
• pfho-20240331_pre.xml (EX-101.PRE) — 99KB
• pacifichco20240331_10q_htm.xml (XML) — 245KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 3 (Unaudited) Balance Sheets as of March 31, 2024 and December 31, 2023 3 (Unaudited) Statements of Operations for the Three Months Ended March 31, 2024 and 2023 4 (Unaudited) Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 5 (Unaudited) Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 11

Quantitative and Qualitative Disclosure about Market Risk

Item 3. Quantitative and Qualitative Disclosure about Market Risk 20

Controls and Procedures

Item 4. Controls and Procedures 20

— OTHER INFORMATION

PART II — OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 21

Other Information

Item 5. Other Information 21

Exhibits

Item 6. Exhibits 21

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Information

Item 1. Financial Information Pacific Health Care Organization, Inc. Condensed Consolidated Balance Sheets (Unaudited) March 31, December 31, 2024 2023 ASSETS Current Assets Cash $ 2,839,036 $ 2,565,992 Investments 7,976,997 7,877,752 Accounts receivable (net of allowance $ 32,850 and $ 32,814 ) 879,119 1,020,580 Deferred tax asset 38,871 38,871 Prepaid expenses 179,879 179,702 Total current assets 11,913,902 11,682,897 Property and Equipment, net Computer equipment 259,532 255,783 Furniture and fixtures 21,620 21,620 Total property and equipment 281,152 277,403 Less: accumulated depreciation and amortization ( 209,436 ) ( 200,009 ) Net property and equipment 71,716 77,394 Operating lease right-of-use assets, net 46,890 56,489 Other assets 7,110 7,110 Total Assets $ 12,039,618 $ 11,823,890 LIABILITIES AND STOCKHOLDERS ' EQUITY Current Liabilities Accounts payable $ 148,069 $ 159,789 Accrued expenses 336,185 367,609 Income tax payable 373,487 296,452 Dividends payable 94,858 109,013 Operating lease liabilities, current portion 34,920 44,519 Unearned revenue 39,107 30,919 Total current liabilities 1,026,626 1,008,301 Long Term Liabilities Operating lease liabilities, long term portion 11,970 11,970 Total Liabilities $ 1,038,596 $ 1,020,271 Commitments and Contingencies - - Stockholders ' Equity Convertible preferred stock, $ 0.001 par value, 5,000,000 shares authorized of which 40,000 shares designated as Series A preferred and 16,000 shares issued and outstanding 16 16 Common stock, $ 0.001 par value, 800,000,000 shares authorized, 12,800,000 shares issued and outstanding 12,800 12,800 Additional paid-in capital 416,057 416,057 Retained earnings 10,572,149 10,374,746 Total stockholders' equity 11,001,022 10,803,619 Total Liabilities and Stockholders ' Equity $ 12,039,618 $ 11,82

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

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations Throughout this quarterly report, unless the context indicates otherwise, the terms, "we," "us," "our" or the "Company" refer to Pacific Health Care Organization, Inc., ("PHCO") and our wholly-owned subsidiaries Medex Healthcare, Inc. ("Medex"), Medex Managed Care, Inc. ("MMC") and Medex Medical Management, Inc. ("MMM"). All statements other than statements of historical fact included herein and in the documents incorporated by reference in this quarterly report on Form 10-Q (this "quarterly report"), if any, including without limitation, statements regarding our future financial position or results of operations, business strategy, potential acquisitions, budgets, projected costs, and plans and objectives of management for future operations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "foresee," "future," "intend," "likely," "may," "might," "plan," "potential," "predict," "project," "should," "strategy," "will," "would," and other similar expressions and their negatives. Forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties, many of which may be beyond our control. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof, and actual results could differ materially as a result of various factors. The following include some but not all of the factors that could cause actual results or events to differ materially from anticipated results or events: cost reduction efforts by our existing and prospective customers; our ability to retain existing customers and to attract new customers; competition within our industry, i

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View this 10-Q filing on SEC EDGAR