The Board of Directors of Universal Health Solutions, Inc. (GXG: UHS) is
pleased to announce that it has approved the 2014 annual audited financial statements of the Company prepared by its independent auditing firm and approved them for issuance. The report will be available in the Financial
section of the company's GXG listing page.
Mark Comer, CEO, stated, "We are encouraged by our continued growth, both in terms of gross sales and our growing networks of sales professionals.
Universal Health Solutions, Inc.
Consolidated Statement of Profit or Loss and Other Comprehensive Income
For the 12 Month Periods Ended March 31, 2014 and March 31, 2013
For the Fiscal Year For the Fiscal Year
Ending March 31, 2014 Ending March 31, 2013
Sales $ 760,900 $ 666,183
Cost of Sales (483,307) (312,612)
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Gross Profit $ 277,593 $ 353,571
Operating Expenses $ (5,936,732) $ (468,965)
Loss from Operations $ (5,659,139) $ (115,394)
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Other income (expenses) $ 6,178 $ 7,964
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Loss before income taxes $(5,652,961) $ (107,430)
Income tax expense (benefit) $ - $ -
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Net Loss $(5,652,961) $ (107,430)
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Loss per common share $(0.23) $ (0.00)
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Weighted average commons shares
Outstanding
-basic and diluted 25,000,000 25,000,000
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Universal Health Solutions, Inc.
Consolidated Balance Sheet
For the 12 Month Periods Ended March 31, 2014 and March 31, 2013
For the Fiscal Year For the Fiscal Year
Ending March 31, 2014 Ending March 31, 2013
Noncurrent Assets
Intangible assets - $5,430,000
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Total Noncurrent Assets - $5,430,000
Current Assets
Cash and equivalents 11,294 21,937
Accounts receivable 73,870 53,894
Inventory 30,296 17,000
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Total Current Assets $ 115,460 $ 92,830
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Total Assets $ 115,460 $ 5,522,830
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Shareholder's Equity and Liabilities
Shareholder's Equity
Share capital $ 5,438,948 $ 5,438,948
Accumulated deficit (6,247,893) (594,932)
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Total Shareholder's Equity $ (808,945) $ 4,844,016
Noncurrent Liabilities
Deferred compensation 510,000 390,000
Warranty reserve 13,500 13,500
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Total Noncurrent Liabilities $ 523,500 $ 403,500
Current Liabilities
Accounts payable 13,760 7,398
Due to affiliate 387,146 267,916
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Total Current Liabilities $ 400,906 $ 275,314
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Total Liabilities $ 924,406 $ 678,814
Total Shareholder's Equity
And Liabilities $ 115,460 $ 5,522,830
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