Comprehensive Healthcare Systems Inc. Reports Delay in Annual Financial Statements Filing

Comprehensive Healthcare Systems Inc. (CHS), a leading healthcare benefits administration software and services company, has announced a delay in filing its annual audited financial statements for the fiscal year ended December 31, 2023. The company cited financial difficulties, operational challenges, and changes in financial personnel as reasons for the delay.

Despite these challenges, CHS has taken steps to address the issues. The company has hired an external consultant to act as the Controller and brought on an interim CFO. Additionally, CHS has streamlined its internal accounting processes and enlisted the help of an outside financial advisory firm to assist with the audit preparation.

CHS is implementing additional audit procedures to improve financial reporting and ensure accuracy. As a result, the company and its auditors require more time to complete the audit process. CHS also needs to raise additional funds to cover overdue audit fees from the prior fiscal year and the current fiscal year’s audit.

The company expects the audit process to be completed and the annual filings to be submitted by June 29, 2024. CHS intends to comply with alternative information guidelines while in default of the filings and is not currently subject to any insolvency proceedings.

Investors and stakeholders are advised to monitor CHS’s progress as the company works to address its financial challenges and complete the audit process. For further information, interested parties can contact Chris Cosgrove, CEO of CHS, via email at chris.cosgrove@comphealthcare.com or by phone at 1-732-362-2010.