Qualis Innovations, Inc. Auditor Raises 'Going Concern' Doubt
April 19, 2022
Share
Qualis Innovations, Inc. filed its S-1/A on Apr 20, 2022 for the period ending Dec 31, 2021. In this report its auditor, Benjamin & Ko, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
Qualis Innovations, Inc. is the holding company under which mPathix Health, Inc. (mPathix) operates. mPathix is a clinical-stage company focused on the development, production and distribution of pain management and other central nervous system-based solutions. It develops products designed to address the unmet needs of patients who seek alternatives to traditional pain medications and interventions or adjunctive therapies to their treatment regimen. Its product, which is its sole product and is in the development pipeline, is SOLACE, a non-invasive medical device that uses electromagnetic induction to generate deep heat below the surface of the skin to reduce and relieve pain. SOLACE delivers radio frequency (RF) energy continuously and thereby delivers thermal effects to the tissues and utilizes several differentiated features vs other RF devices on the market. SOLACE device is based on high-frequency magnetic induction technology, which it refers to as Electromagnetic Induction.