For the quarter ending 2025-09-30, VSEE has $18,707,122 in assets. $24,282,620 in debts. $472,759 in cash and cash equivalents.
| Balance Sheets | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 |
|---|---|---|---|---|
| Cash | 472,759 | 291,595 | 410,122 | 326,115 |
| Accounts receivable, net of allowance for credit losses of 2,834,974 and 2,393,033 as of september 30, 2025, and december 31, 2024, respectively | 2,578,490 | 1,616,751 | 1,850,581 | 1,716,370 |
| Due from related party | 284,614 | 241,122 | 289,156 | 531,656 |
| Prepaids and other current assets | 382,522 | 410,037 | 529,994 | 446,826 |
| Total current assets | 3,718,385 | 2,559,505 | 3,079,853 | 3,020,967 |
| Right-of-use assets, net | 315,679 | 337,770 | 359,061 | 379,585 |
| Intangible assets, net | 9,337,504 | 9,890,002 | 10,442,500 | 10,995,000 |
| Goodwill | 4,916,694 | 4,916,694 | 4,916,694 | 4,916,694 |
| Fixed assets, net | 418,860 | 506,070 | 597,578 | 680,242 |
| Total assets | 18,707,122 | 18,210,041 | 19,395,686 | 19,992,488 |
| Accounts payable and accrued liabilities | 11,716,584 | 9,620,888 | 9,458,045 | 9,343,659 |
| Deferred revenue | 1,150,093 | 1,170,101 | 846,674 | 417,815 |
| Due to related parties | 51,900 | 51,900 | 51,900 | 51,900 |
| Operating lease liabilities | 85,575 | 81,132 | 76,892 | 72,836 |
| Finance lease liabilities | 184,106 | 234,673 | 282,877 | 328,833 |
| Factoring payable | 122,220 | 143,220 | 150,380 | 179,007 |
| Encompass purchase liability | 265,578 | 263,874 | 263,918 | 263,918 |
| Line of credit-Equity Line Of Credit | 42,394 | 59,843 | 44,953 | 80,000 |
| Notes payable, current portion-Quantum Notes | 3,828,125 | 3,580,612 | 3,691,806 | 3,248,000 |
| Notes payable, current portion-September2024Convertible Note | 2,043,760 | 2,918,875 | 2,572,734 | 2,094,000 |
| Loan payable, related party-Related Party | 471,651 | 471,651 | 471,651 | 471,651 |
| Line of credit-Revolving Credit Facility | 456,097 | 456,097 | 456,097 | 456,097 |
| Notes payable, net of discount | 1,944,710 | 1,460,422 | 1,090,606 | 433,983 |
| Notes payable, current portion-Exchange Notes | 1,028,158 | 2,485,636 | 2,462,897 | 1,499,000 |
| Common stock issuance obligation | 31,227 | 59,383 | 61,430 | 69,621 |
| Total current liabilities | 23,422,178 | 23,058,307 | 21,982,860 | 19,010,320 |
| Notes payable, less current portion, net of discount | 589,374 | 593,941 | 593,941 | 593,941 |
| Operating lease liabilities, less current portion | 203,689 | 226,718 | 248,504 | 269,338 |
| Deferred revenue, net of current portion | 0 | 0 | 0 | 69,999 |
| Deferred tax liabilities, net | 67,379 | 67,378 | 67,378 | 67,378 |
| Total liabilities | 24,282,620 | 23,946,344 | 22,892,683 | 20,010,976 |
| Preferred stock, 0.0001 par value, 10,000,000 shares authorized 6,158 and 0 shares issued and outstanding as of september 30, 2025, and december 31, 2024, respectively | 1 | 1 | 1 | 1 |
| Common stock, 0.0001 par value 100,000,000 shares authorized 17,022,690 and 16,297,190 shares issued and outstanding as of september 30, 2025, and december 31, 2024, respectively | 1,703 | 1,643 | 1,643 | 1,630 |
| Additional paid-in capital | 68,989,139 | 68,538,649 | 68,164,672 | 67,683,754 |
| Accumulated deficit | -74,566,341 | -74,276,596 | -71,663,313 | -67,703,873 |
| Total stockholders' equity (deficit) | - | - | - | -18,488 |
| Total stockholders deficit | -5,575,498 | -5,736,303 | -3,496,997 | - |
| Total liabilities and stockholders deficit | 18,707,122 | 18,210,041 | 19,395,686 | 19,992,488 |
VSEE HEALTH, INC. (VSEE)
VSEE HEALTH, INC. (VSEE)