NOTE 3 – LIQUIDITY

The accompanying condensed consolidated financial statements do not include any adjustments or classifications that may result from the possible inability of the Company to continue as a going concern. The accompanying condensed consolidated financial statements have been prepared on a basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying condensed consolidated financial statements as of June 30, 2022, the Company has an accumulated deficit of $33,680,156 and working capital of $6,213,482. At June 30, 2022, the Company had no debt and $9,084,839 of unrestricted cash on hand. Since inception, the Company has met its cash needs through proceeds from issuing convertible notes, warrants and its IPO.

On August 4, 2022, the Company announced the acquisition of Maestro Health LLC (“Maestro”). Under the terms of the purchase agreement, the sellers have agreed that at the closing of the transaction, Maestro’s free cash reserves will be $15.79 million. This cash is available to be used by the Company to fund the operations of the Company after the closing which is expected on or before September 15, 2022. While Maestro is currently generating operating losses, management believes that the integration of the two businesses will lead to substantial improvement in the operating results of the Company over the next year.

Management believes that the Company’s current liquid assets combined with the cash expected from the Maestro acquisition are sufficient to fund working capital and operating activities and fund capital expenditures through at least the first half of 2023.