Company focusing on giving clinicians with tools to harness proactive and value-based healthcare solutions, QHSLab Inc (OTCQB:USAQ) on May 24, 2022, released a letter to the shareholders from its CEO Troy Grogan. The letter addressed the firm’s recent quarterly performance and current market conditions.
Market Action
On Tuesday, USAQ stock ended flat at $0.4002 with 1 shares, compared to its average volume of 2K shares. The stock moved within a range of $0.4002 – 0.4002 after opening trade at $0.4002.
Grogan wrote that though the headlines caused concern for investors, QHSLab Inc is confident in its ability to go through the market volatility with its robust fundamental point of care.
The CEO said that the firm has focused on achieving positive cash flow and earnings since the beginning. Additionally, he said that the company has generated growth in revenue in the last six quarters.
While the firm’s revenues augmented by 17% to $355,330 vis-à-vis the same quarter of 2021, its gross profit surged by 41% to $188,688. QHS Lab’s Net Operating Loss was $61,127 in quarter one of 2022, which was 20% lower than the same quarter of the last year.
The CEO explained that the “other expenses” were pertaining to interest expenses, which reflect non-cash amortization costs of $83,041 related to warrants issued in 2021. He explained that this was a non-cash expense and did not pay $83,041 out in actual cash during the quarter. QHSLab said that the warrants are registered with the SEC at the strike price of $1.25 per share.
Traders Note
USAQ stock is trading below the 20-Day and 50-Day Moving averages of $0.48 and $0.51 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 45.
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