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FCHS on OTC

First Choice Healthcare Solutions, Inc.

First Choice Healthcare Solutions, Inc. is an American medical laboratories services company based in Melbourne.1 Its shares trade on OTC under the symbol FCHS.1

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Last updated Oct 21, 2026.

Overview

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  • TickerFCHS on OTC1
  • IndustryServices-Medical Laboratories1
  • HeadquartersMelbourne, Florida1
  • Incorporated inDE2
  • Business address709 S. Harbor City Blvd., Suite 250, Melbourne, Fl 329012
  • Filer category, Emerging growth company2

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Bulldog Blvd., Suite, 202, Melbourne, Florida, 32901 and our phone number is 321-725-0090. Our corporate website address is www.myfchs.com.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Gross profit456$7.3K in 2025−99% since 2022
0$500.0K$1.0M$1.5M2022: $1.1M$1.1M20222023: $30.0K$30.0K2023−97%2025: $7.3K$7.3K2025−75%
Operating income7456-$2.7M in 2025−39% since 2017
-$8.0M-$6.0M-$4.0M-$2.0M02017: -$4.4M-$4.4M20172022: -$7.0M-$7.0M2022+59%2023: -$2.4M-$2.4M2023−66%2024: -$1.3M-$1.3M2024−47%2025: -$2.7M-$2.7M2025+107%
Net income7456-$7.0M in 2025
-$10.0M-$5.0M0$5.0M2017: $3.9M$3.9M20172022: -$9.9M-$9.9M20222023: -$8.2M-$8.2M2023−18%2024: -$3.8M-$3.8M2024−53%2025: -$7.0M-$7.0M2025+81%
Fiscal year20172018202120222023202420252026
Gross profit$1.1M4$30.0K5$7.3K6
Selling, general and admin$3.6M4$2.2M5$906.8K6$1.9M6
Operating expenses$8.1M4$2.4M5$1.3M6$2.7M6
Operating income-$4.4M7-$7.0M4-$2.4M5-$1.3M6-$2.7M6
Interest$3.7M4$5.9M4$3.3M6$4.7M6
Income before tax-$9.9M4-$8.2M5-$3.7M6-$7.0M6
Income tax$112.0K6
Net income$3.9M7-$9.9M4-$8.2M5-$3.8M6-$7.0M6
Earnings per share-$0.157-$0.304-$0.255-$0.125
Earnings per share (diluted)-$0.157-$0.304-$0.255-$0.126-$0.216
Shares (weighted, basic)33.0M shares433.0M shares533.0M shares5
Shares (weighted, diluted)33.0M shares433.0M shares533.0M shares633.0M shares6

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What it owns

What First Choice Healthcare Solutions, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$233.4K6 Dec 31, 2025$416.6K6 Dec 31, 2024−44.0%
Accumulated depreciation$86.4K6 Dec 31, 2025$193.8K6 Dec 31, 2024−55.4%
Property and equipment, net$147.0K6 Dec 31, 2025$222.8K6 Dec 31, 2024−34.0%
Operating-lease assets (leased space)$3.4M6 Dec 31, 2025$3.7M6 Dec 31, 2024−10.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.9K6 Dec 31, 2025$19.9K6 Dec 31, 2024−70.4%

Properties, in its own words

We lease and maintain our principal office at 95 Bulldog Blvd, Suite 202, Melbourne, Florida, 32901. We also lease and maintain two clinic locations in Minnesota, specifically in the Minneapolis area and are scheduled to open in the second quarter of fiscal year 2026.

Item 2 of the 10-K filed Mar 11, 2026.3

Leadership

Who has led First Choice Healthcare Solutions, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christian C. Romandetti Sr.2011–2014

President

  1. Michael J. West2009
  2. Christian C. Romandetti Sr.2011

Chief financial officer

  1. Donald A. Bittar2011–2014
  2. Gary Pickett2014
  3. Timothy Kevin Skeldon2016
2010201520202025
Board members and other officers (6)

Former names

  • Medical Billing Assistance, Inc.Jan 7, 2011 to Mar 30, 20122
  • Medical Billing Assistance IncOct 25, 2007 to Jan 3, 20112

Timeline

  1. Aug 19, 20268-K Entered a material agreement18
  2. Jul 28, 20268-K Entered a material agreement; Regulation FD disclosure19
  3. Jun 27, 20258-K Executive or director change20
  4. Mar 31, 20258-K Executive or director change21
  5. Jan 7, 2011New chief executive Christian C. Romandetti Sr. becomes CEO10

Filings

33 filings to the SEC since October 2021: 3 annual reports, 8 quarterly reports, 4 major events, 18 other. The latest 20:

  1. Sep 15, 2026RW EDGAR
  2. Aug 19, 20268-K EDGAR
  3. Aug 13, 202610-Q EDGAR
  4. Jul 28, 20268-K EDGAR
  5. May 8, 202610-Q EDGAR
  6. Apr 14, 2026S-1/A EDGAR
  7. Mar 27, 2026S-1/A EDGAR
  8. Mar 11, 202610-K EDGAR
  9. Feb 13, 2026S-1/A EDGAR
  10. Feb 2, 2026S-1/A EDGAR
  11. Jan 30, 2026S-1/A EDGAR
  12. Jan 27, 2026S-1/A EDGAR
  13. Jan 16, 2026S-1/A EDGAR
  14. Dec 30, 2025S-1/A EDGAR
  15. Dec 8, 2025S-1/A EDGAR
  16. Nov 12, 202510-Q EDGAR
  17. Sep 24, 2025S-1/A EDGAR
  18. Aug 13, 202510-Q EDGAR
  19. Jul 2, 2025S-1/A EDGAR
  20. Jun 27, 20258-K EDGAR

The 33 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How First Choice Healthcare Solutions, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFirst Choice Healthcare Solutions, Inc.1
  • CIK0001416876
  • Employer ID (EIN)90-06873793
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)8071 Services-Medical Laboratories1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address709 S. Harbor City Blvd., Suite 250, Melbourne, FL 329011
  • Phone(321) 725-00901
  • Shares outstanding32,958,288 as of Aug 13, 20269
  • Public float$197.7K as of Jun 30, 20253
  • AuditorBush & Associates CPA LLC, Las Vegas, Nevada PCAOB ID 6797; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceOct 25, 20071
  • Filings210 in all: 8-K (48), 10-Q (40), S-1/A (15), 10-K (13), UPLOAD (13), 3 (10), CORRESP (8), NT 10-K (7)1
    All 37 form types

    10-K/A (6), 8-K/A (5), NT 10-Q (5), 10-Q/A (4), 5 (3), PREC14A (3), 424B3 (2), DEF 14C (2), PRE 14C (2), S-1 (2), SC 13D (2), SC 13D/A (2), SC 13G (2), 10KSB (1), 10QSB (1), 15-12G (1), 4 (1), 5/A (1), 8-A12G (1), D (1), DEF 14A (1), DEFA14A (1), DEFC14A (1), EFFECT (1), PREN14A (1), PRER14C (1), REGDEX (1), RW (1), SB-2 (1)

  • Latest filingsAnnual report (10-K) Mar 11, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Nov 16, 2016
    Latest 8-K (8-K) Aug 19, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, Par Value $0.001 Per ShareFCHS

From the cover page of the 10-K filed Mar 11, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks First Choice Healthcare Solutions, Inc. names in Item 1A of its 10-K filed Mar 11, 2026: 46 risks under these headings, as written.3

  • Going Concern
  • Risks Related to our Financial Position and Capital Needs
  • Our business has posted minimal profit since commencing operations.
  • If our cash from operations is not sufficient to meet our current or future operating needs, expenditures and debt service obligations, our business, financial condition, and results of operations may be materially adversely affected.
  • We need additional capital to expand operations; if we do not raise additional capital, we will need to curtail or cease operations.
  • Raising additional capital may cause dilution to our existing stockholders, restrict our operations, or require us to relinquish rights to our technologies or other assets.
  • Our strategy to open new clinics sites in multiple new markets makes it difficult for us to evaluate our current and future business prospects, and we may be unable to effectively manage any growth associated with these new markets, which may increase the risk of your investment and could harm our business, financial condition, results of operations and cash flow.
  • Changes in tax laws and unanticipated tax liabilities could adversely affect our effective income tax rate and ability to achieve profitability.
  • We expect our quarterly financial results to fluctuate.
  • Volatility in the financial markets could have a material adverse effect on our business.
  • Potential profit margins may decline due to increasing pressure on margins.
  • Our indebtedness may have a material adverse effect on our business, financial condition, and results of operations.
The other 36 risks
  • Pandemics and epidemics, natural disasters, terrorist activities, political unrest, and other outbreaks could have a material adverse impact on our business, results of operations, financial condition and cash flows or liquidity.
  • Business interruptions resulting from the outbreak of a pandemic or similar public health crises could cause a disruption of our clinic operations and adversely impact our business.
  • General Risks Related to our Healthcare Services Business
  • We have a limited operating history that impedes our ability to evaluate our potential future performance and strategy.
  • Acquisitions involve risks that could adversely affect our business/internal controls.
  • To pursue our business strategy, we will need to raise additional capital. If we are unable to raise additional capital, our business may fail.
  • We may not be able to achieve the expected benefits from opening new clinics, which would adversely affect our financial condition and results.
  • If we are unable to attract and retain qualified medical professionals, our ability to maintain operations attract patients or open new clinics could be negatively affected.
  • We may have difficulties managing our Company’s growth, which could lead to higher operating losses, or we may not grow at all.
  • Loss of key executives and failure to attract qualified managers could limit our growth and negatively impact our operations.
  • We may be subject to medical professional liability risks, which could be costly and could negatively impact our business and financial results.
  • There are significant operational and financial risks in billing Medicare, Medicaid, and TRICARE for healthcare services.
  • Operating clinics in multiple states, billing multiple commercial payers creates the need for additional administrative staff may lead to higher overhead costs, and recurring coding and billing training for our clinic level staff.
  • The healthcare regulatory and political framework is evolving.
  • The healthcare industry is highly regulated, and government authorities may determine that we have failed to comply with applicable laws or regulations.
  • The practice of pharmacy is highly regulated on the state and federal level, and government authorities may determine that we have failed to comply with applicable laws or regulations limiting our opportunity to grow our compounding pharmacy revenue.
  • Compounding pharmacies are dependent on the consistent availability and quality of the base pharmaceuticals required to deliver personalized medications to their patients and clinics.
  • Our growth strategy includes utilizing the single compounding pharmacy that is part of the LiveWell acquisition to supply all personalized medications for the initial expansion of our clinics. Any disruption in component supplies may create a significant risk to our consistent delivery of personalized medication and the delivery of our quality-of-life services.
  • Federal and state laws that protect the privacy and security of protected health information may increase our costs and limit our ability to collect and use that information and subject us to penalties if we are unable to fully comply with such laws.
  • Our quality-of-life services will be based primarily on the self-pay model, which could lead to fewer patients utilizing these services or the need for us to discount such services, which could limit our growth and negatively impact our operations resulting in us missing our financial projections.
  • Changes in the rates or methods of third-party reimbursements for medical services could result in reduced demand for our services or create downward pricing pressure, which would result in a decline in our revenues and harm our financial position.
  • We are subject to federal and state restrictions on advertising that may adversely affect our ability to advertise our clinics and services.
  • Health Insurance Portability and Accountability Act (“HIPAA”) compliance is critically import to our continuing operations.
  • We rely significantly on information technology and any failure, inadequacy, interruption or security lapse of that technology, including any cybersecurity incidents, could harm our ability to operate our business effectively.
  • The market for healthcare services is highly competitive.
  • If we are forced to lower our prices for our services in order to compete with a better-financed or lower-cost provider of medical healthcare services, our medical revenues and results of operations could decline.
  • A decline in consumer disposable income could adversely affect the number of clinical visits and could have a negative impact on our financial results.
  • Risks Related to our Common Stock
  • There has been a limited trading market for our Common Stock to date.
  • The market for our common stock may fluctuate significantly.
  • A significant percentage of the Company’s common stock and Series A Super Voting Preferred Stock is held by a small number of shareholders.
  • We have not paid dividends in the past and have no immediate plans to pay dividends.
  • We expect that our quarterly results of operations will fluctuate, and this fluctuation could cause our stock price to decline.
  • “Penny stock” rules may make buying or selling our securities difficult which may make our stock less liquid and make it harder for investors to buy and sell our securities.
  • Our former Chief Executive officer, Christian C. Romandetti, Sr., was arrested on November 15, 2018, on a conspiracy to commit securities fraud charge.
  • Our charter documents and Delaware law may inhibit a takeover that stockholders consider favorable.
  • Failure to achieve and maintain internal controls in accordance with Sections 302 and 404 of the Sarbanes-Oxley Act of 2002 could have a material adverse effect on our business and stock price.

Legal proceedings

From time to time, we may become involved in lawsuits and legal proceedings which arise in the ordinary course of business including potential disputes with patients. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our business. Our contracts with hospitals require us to indemnify them and their affiliates for losses resulting from the negligence of our care providers.

Although we currently maintain liability insurance coverage intended to cover certain claims to cover medical liability and certain other claims, we cannot assure that our insurance coverage will be adequate to cover liabilities arising out of claims asserted against us in the future where the outcomes of such claims are unfavorable to us. Liabilities in excess of our insurance coverage, including coverage for medical liability and certain other claims, could have a material adverse effect on our business, financial condition, and results of operations.

On May 31, 2018, the Company entered into a lease agreement for the use of equipment with 60 monthly payments of $2,112 payable through April 2023 with an effective interest rate of 5.00% per annum. The Company failed to make all payments as required under the lease agreement which resulted in the lender filing a complaint in the County Court of Brevard County, Florida (“Brevard Court”). In June 2023 the Brevard Court issued an order to the Company to return the equipment. The lender subsequently liquidated the equipment from which the proceeds were netted against the total claim. On January 25, 2024, the Brevard Court granted a $19,473 judgement in favor of the lessor of an equipment lease. In March 2024, the Company and the creditor negotiated a revised settlement amount of $9,000 which has been paid in full.

The opening of Item 3, Legal Proceedings.3

Sources

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