Pacific Health Care Org Files Q3 2024 10-Q

TL;DR

PHCO filed its Q3 2024 10-Q. Check financials.

AI Summary

Pacific Health Care Organization Inc. filed its quarterly report on Form 10-Q for the period ending September 30, 2024. The company, headquartered in Irvine, CA, operates in the miscellaneous health and allied services sector. This filing provides an update on its financial performance and business operations for the third quarter of 2024.

Why It Matters

This filing provides investors with the latest financial and operational details for Pacific Health Care Organization Inc., crucial for understanding its current performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial updates, not indicating immediate or significant new risks.

Key Numbers

• 000-50009 — Commission File Number (Identifies the company's SEC filing history.)

Key Players & Entities

• PACIFIC HEALTH CARE ORGANIZATION INC (company) — Filer
• 000-50009 (dollar_amount) — Commission File Number
• September 30, 2024 (date) — Quarterly Period End Date
• 20241101 (date) — Filing Date
• Irvine, CA (location) — Business Address

FAQ

Key Financial Figures

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

Filing Documents

• pacifichco20240930_10q.htm (10-Q) — 891KB
• ex_740307.htm (EX-31.1) — 11KB
• ex_740308.htm (EX-31.2) — 11KB
• ex_740309.htm (EX-32.1) — 6KB
• 0001185185-24-001057.txt ( ) — 2924KB
• pfho-20240930.xsd (EX-101.SCH) — 17KB
• pfho-20240930_cal.xml (EX-101.CAL) — 29KB
• pfho-20240930_def.xml (EX-101.DEF) — 89KB
• pfho-20240930_lab.xml (EX-101.LAB) — 173KB
• pfho-20240930_pre.xml (EX-101.PRE) — 95KB
• pacifichco20240930_10q_htm.xml (XML) — 206KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements 3 Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023 3 (Unaudited) Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 (Unaudited) Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 5 (Unaudited) Statements of Cash Flows for the Nine Months Ended September 30, 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 Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

— OTHER INFORMATION

PART II — OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 24

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Information

Item 1. Financial Information Pacific Health Care Organization, Inc. Condensed Consolidated Balance Sheets (Unaudited) September 30, December 31, 2024 2023 ASSETS Current Assets Cash $ 2,545,913 $ 2,565,992 Investments 8,197,570 7,877,752 Accounts receivable (net of allowance $ 11,862 and $ 32,814 ) 1,093,407 1,020,580 Receivable – other 1,590 - Deferred tax asset 51,018 38,871 Prepaid income tax 32,539 - Prepaid expenses 151,914 179,702 Total current assets 12,073,951 11,682,897 Property and Equipment, net Computer equipment 242,848 255,783 Furniture and fixtures 13,283 21,620 Total property and equipment 256,131 277,403 Less: accumulated depreciation and amortization ( 198,202 ) ( 200,009 ) Net property and equipment 57,929 77,394 Operating lease right-of-use assets, net - 56,489 Other assets 7,110 7,110 Total Assets $ 12,138,990 $ 11,823,890 LIABILITIES AND STOCKHOLDERS ' EQUITY Current Liabilities Accounts payable $ 174,952 $ 159,789 Accrued expenses 440,424 367,609 Income tax payable - 296,452 Dividends payable 94,858 109,013 Operating lease liabilities, current portion - 44,519 Unearned revenue 37,315 30,919 Total current liabilities 747,549 1,008,301 Long Term Liabilities Operating lease liabilities, long term portion - 11,970 Total Liabilities $ 747,549 $ 1,020,271 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 10,962,568 10,374,746 Total stockholders' equity 11,391,441 10,803,619 Total Liabilities and Stockholders ' Equity $ 12,138,990 $

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 its wholly owned subsidiaries Medex Healthcare ("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: competition within our industry, including competition from much larger competitors; our ability to retain existing customers and to attract new customers; cost reduction effort

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View this 10-Q filing on SEC EDGAR