VSEE HEALTH (VSEEW) SEC Filings, Aug 29, 2025

VSee Health, Inc. (VSEE) amended its 2024 annual report to correct multiple accounting errors, restate interim periods and disclose material financing and acquisition activity. The company identified repeated failures to accrue sales and use taxes, resulting in cumulative accrual increases peaking at $940,130 as of September 30, 2024, and multiple revenue cutoff corrections that moved revenue to deferred revenue and opening retained earnings. The firm recorded substantial purchase accounting adjustments tied to the June 24, 2024 business combination and iDoc acquisition, including adjustments to goodwill and acquired receivables that led to a significant goodwill impairment charge of $56,675,210 and a net loss of $58,134,446 for the year. Financing activity includes an Exchange Note of $2,523,744, a $3,000,000 Quantum Convertible Note, and an Equity Line (ELOC) commitment up to $50,000,000 (floor price later amended). The filing also discloses defaults, numerous convertible and original-issue-discount notes, material fair-value remeasurements, and explicit risks including uncertainty about continuing as a going concern.