Welcome to our dedicated page for Selectis Health news (Ticker: GBCS), a resource for investors and traders seeking the latest updates and insights on Selectis Health stock.
Selectis Health Inc. operates as a public healthcare company focused on healthcare facilities that provide living services, speech, occupational and physical therapies, social services, rehabilitation and related healthcare services. The company has described its facility footprint across Arkansas, Georgia, Ohio and Oklahoma, with an emphasis on care settings serving aging populations.
Recurring developments for GBCS include skilled nursing facility portfolio changes, completed asset sales, material agreements, capital-structure updates, shareholder voting matters and operating and financial results. Company announcements also cover governance changes, including board and executive appointments, as well as healthcare regulatory disclosure topics tied to its facility operations.
Selectis Health reported a net loss of $0.06 million for Q3 2021, equating to $(0.02) per diluted share, a decline from a net income of $0.46 million in Q3 2020. Despite this, total revenue rose by 15.8% year-over-year to $7.32 million. Key developments included a $750,000 fund raise, a 1-for-10 reverse stock split, and refinancing of the Southern Hills mortgage at 2.38% for 35 years. The company faced challenges with COVID-related staffing shortages, incurring $532,030 in agency staffing expenses. Selectis anticipates improved results in 2022 as operational adjustments take effect.
Selectis Health, Inc. (OTC: GBCS) is set to release its third-quarter 2021 financial results on November 16, 2021. A shareholder call will take place on the same day at 4:15 PM EST, where management will discuss the company's performance. Interested parties can join the call by dialing (877)-705-6003 and using confirmation number 13725159. A replay will be available until November 30, 2021. Selectis operates healthcare facilities in Arkansas, Georgia, Ohio, and Oklahoma, providing various rehabilitation and health services.
Selectis Health, Inc. (OTC: GBCSD) announced the successful refinancing of its Southern Hills Continuing Care Retirement Community (CCRC) with a loan of $8,029,800 at a fixed interest rate of 2.38% for 35 years. This refinance supports the facility’s profitability and operational consistency. The company also appointed a new Executive Director to oversee improvements, including renovations that enhance living conditions for residents. Future refinancing efforts for the Eastman facility are underway, promising further positive developments.
Selectis Health, Inc. (formerly Global Healthcare REIT, Inc.) is set to implement a 1-for-10 reverse stock split effective September 22, 2021. This move aims to enhance market visibility and attract institutional investors, with the company’s shares reducing from approximately 29 million to 2.9 million. The new ticker symbol remains GBCS, and a 'D' will be added to the symbol for 20 business days to denote the reverse split. Shareholders will receive instructions for exchanging certificates, with a $50 fee for manual changes. This strategic decision aligns with the company's objectives to satisfy NYSE listing requirements.
Selectis Health, Inc. (OTC: GBCS) reported a net loss of $(686,280) or $(0.03) per diluted share for Q2 2021, compared to net income of $1,116,055 or $0.04 per diluted share one year prior. Despite this, total revenues increased by 17.2% to $6.01 million in Q2 2021 from $5.13 million in Q2 2020. The company completed a significant rebranding and transition of its operations, increasing occupancy by 30% at its independent living facility. However, the impact of COVID-19 and unexpected repair costs have negatively affected census and staffing operations.
On August 14, 2021, Selectis Health, formerly Global Healthcare REIT, announced it will release its second quarter 2021 financial results on August 16, 2021. The company operates Assisted Living, Independent Living, and Skilled Nursing facilities across Arkansas, Georgia, Ohio, and Oklahoma, offering various healthcare services. Investors are encouraged to join the shareholder call at 4:15 PM EDT on the same day for insights into the company's performance. Additional details for joining the teleconference were provided, along with information for a replay.
Selectis Health, Inc. (OTC: GBCS) completed a $750,000 private offering involving 1.5 million shares at $0.50 each, aimed at enhancing working capital and acquiring a minority interest in Goodwill Hunting, LLC. This offering was oversubscribed, reflecting investor confidence in the company's growth. Selectis now fully owns Goodwill Hunting, LLC, and has taken operational control of two skilled nursing facilities previously managed by third-party operators that filed for bankruptcy. The company aims to meet NYSE American listing requirements.
Global Healthcare REIT, Inc. (OTC: GBCS), now rebranding to Selectis Health, reported a 49.6% increase in total revenue for Q1 2021, totaling $5.76 million, up from $3.85 million in Q1 2020. Net income rose by 348.8% year-over-year to $240,566, or $0.01 per diluted share. Following the reopening of the Oklahoma City facility, the company plans to optimize its operations and seek further growth. Despite positive earnings, the company is facing challenges with COVID-19 impacts and renovation costs, indicating ongoing operational risks.
Global Healthcare REIT, Inc. (OTC: GBCS), now transitioning to Selectis Health, reported a 149.6% increase in total revenue to $5.76 million for Q1 2021, compared to $3.85 million in 2020. Net income reached $240,566, or $0.01 per diluted share, marking a 448.8% increase year-over-year. The company reopened its Oklahoma City facility, investing nearly $1 million in renovations, while facing challenges from COVID-19 exposure and facility damage. Management forecasts growth through operational optimization and potential acquisitions, despite increased operational costs.
Global Healthcare REIT, Inc. (OTC: GBCS), now transitioning to Selectis Health, reported remarkable financial results for Q4 2020 and the full year. Q4 revenue saw a 174% increase year-over-year to $5.63 million, while full-year revenue surged 202% to $20.93 million. Net income for Q4 reached $1.30 million ($0.05 per share), compared to a loss of $1.05 million in Q4 2019. For the full year, net income was $2.93 million ($0.11 per share), up 428% from the previous year. The company also announced share repurchases and secured significant financing for future growth.