Well, despite the fact that there are many here who don't wish to look backwards, here's my short version on fy 2016 summary releases and the facts presented...
First, the accountant letter...
To Management
Encounter Care Solutions Inc. and Subsidiaries Palm Beach Gardens, FL
Management is responsible for the accompanying consolidated financial statements of Encounter Care Solutions Inc. (a corporation) and its subsidiaries, which comprise the consolidated balance sheet as of June 30, 2016 and 2015, and the related consolidated statements of operations and changes in stockholders’ deficit and cash flows for the years then ended, and the related notes to the financial statements in accordance with accounting principles generally accepted in the United States of America. We have performed a compilation agreement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the consolidated financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these consolidated financial statements.
We are not independent with respect to Encounter Care Solutions Inc. and subsidiaries.
Pybus & Company, P.A.
Pybus & Company, P.A. North Palm Beach, FL September 26, 2016
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-63.3mm shs, up 7.3% v 59.0mm yr ago and up 2.2% v 61.9mm q-q
-no dates on stock issued for services. looks like ~1,786,000 shares issued during fy4Q16, incl 1.0mm to LSH
-an accountant (one man office?) who performs a 'compilation engagement', and does not and will not certify financials
-i'm guessing $171k for joint venture will eventually be written off
-cash down to 0 (well, actually negative $110 cash overdraft) from $115,295 y-y, and $4,800
+debt down ~$121k to $2.216mm from $2.337mm y-y, and ~$23k from $2.239mm q-q
+payables down by almost 65%
-net cash used in operations ($976k) fy16 v ($948k) fy15
-shares issued for cash and converted notes payable 2,024,670 fy16 and 2,128,026 fy15
-2016 revs $320,716 v $363,797, down 12%.
-revs fy4q16 $49,591 v $94,407, down 47%
+gross margin % up a little bit
+g&a, payroll & consulting down 6%
?net loss $1.53mm v $1.62mm, down $85k or 5%
