PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. faces substantial doubt about its ability to continue as a going concern.
SEC EDGAR, 2026-10-15: 10-Q — "substantial doubt"
PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. faces substantial doubt about its ability to continue as a going concern.
Company: PREAXIA HEALTH CARE PAYMENT SYSTEMS INC. (PAXH) Filed: 2026-10-15, 10-Q Phrase: "substantial doubt" — "These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern within one year of the date that the consolidated financial statements are issued." What the filing says: The company reported a net comprehensive loss of ($220,616) and provided cash in operating activities of $22,096 for the three months ended August 31, 2026. As of August 31, 2026, it had a stockholders' deficit of ($543,336) and an accumulated deficit of ($6,578,737). These financial conditions indicate substantial doubt about its ability to continue as a going concern. The company currently lacks significant cash, material assets, operations, or revenue to cover its operating costs and relies on developing additional capital sources and achieving profitable operations. Two ways it goes: A. The company successfully develops additional sources of capital and achieves profitable operations. B. The company fails to secure necessary capital or achieve profitability, leading to an inability to continue as a going concern. Next date: none named Watch: The company's ability to secure additional financing and achieve profitable operations.