PreAxia Health Care (PAXH) Q2 2024 Earnings Report

PreAxia Health Care Payment Systems Inc (PAXH) reported material gaps in QQ2 2024 results, with no disclosed revenue and a reported net loss of $-45,109. The loss was principally driven by high general and administrative costs (G&A of $42,930) and related operating expenses totaling $45,109, resulting in an EBITDA of $-45,109 and an operating loss of $-45,109. Depreciation and amortization were modest at $45.11, leaving a negative EBIT and net income of the same magnitude. The company generated negative cash flow from operations of $-10,106, while changes in working capital contributed a positive $35,003, culminating in a small net cash inflow from financing activities of $11,619 and a net increase in cash of $1,513 for the period. At quarter end, cash and cash equivalents stood at $1,868, while total current liabilities were $2,384,626 and short‑term debt was $1,716,906, yielding a negative stockholders’ equity of approximately $-2,382,758. Total assets were reported at $1,868, with a substantial mismatch between assets and liabilities that underscores acute liquidity risk. The earnings per share (EPS) was $-0.0023 on 19,767,698 weighted shares outstanding. Notably, the earnings transcript is not provided in the data, limiting management‑commentary quotes for QQ2 2024. Given the absence of revenue and the fragile balance sheet, the near‑term investment thesis remains highly risk‑skewed, with the main levers being potential monetization of the product suite, cost discipline, and the availability of financing to bridge liquidity until revenue traction materializes.