Mr. Chris Cosgrove reports

COMPREHENSIVE HEALTHCARE SYSTEMS INC. ANNOUNCES DELAY IN FILING OF ANNUAL FINANCIAL STATEMENTS

Comprehensive Healthcare Systems Inc. will be delayed in the filing of its annual audited financial statements, associated management's discussion and analysis, and officer certifications for the fiscal year ended Dec. 31, 2023, which are due on April 29, 2024.

As previously disclosed in its interim financial statements for the three- and nine-month periods ended Sept. 30, 2023, and related management's discussion and analysis, the company experienced financial difficulties with heavy losses, changes in financial personnel (including the resignation of the chief financial officer and the controller) and other operational challenges. As a result, the company made significant restructuring efforts to reduce increasing costs and improve operations. Although the company has made significant progress, these difficulties led to the delay in the annual filings (and the directly resulting delay in the interim filings) and in the audit preparation process.

The company has been diligently working to fix these issues. It has engaged an external consultant to act as the controller for the company and hired an interim CFO. The company has streamlined its internal accounting and bookkeeping processes to simplify the preparation of financial statements. It is also seeking help from an outside financial advisory firm with the preparation of accounts for the audit.

The company is also implementing additional audit procedures to further improve financial reporting, requiring more time for audit reviews and verifications. As a result, the company and its auditor require additional time to complete the audit process.

In addition, the company needs to raise additional funds to pay for overdue audit fees from its prior fiscal year and the audit fees for the current fiscal year's audit.

The company expects the audit process to be completed and the annual filings to be filed on or before June 29, 2024.

The company intends to satisfy the provisions of the alternative information guidelines set forth in sections 9 and 10 of National Policy 12-203 (Management Cease Trade Orders) so long as it remains in default of the annual filings and so long as it anticipates or is in default of the interim filings. The company further advises that it is not subject to any insolvency proceedings and that there is no other material information concerning the affairs of the company at this time that has not been generally disclosed.

About Comprehensive Healthcare Systems Inc.

Comprehensive Healthcare is a corporation incorporated under the laws of the Province of Alberta and is the parent company of Comprehensive Healthcare Systems Inc. (Delaware). The company is a vertically integrated software-as-a-service company focused on digitizing health care with health care benefits administration solutions, providing reliable and high-volume transaction-capable systems. The company's state-of-the-art Novus 360 health care welfare and benefits administration SaaS platform is used by clients for all aspects of health care benefits administration (including self-financed employers, providers and labour unions), providing health care administrative software and technology-enabled services.

We seek Safe Harbor.