Panacea Life Sciences Holdings files N7 Enterprises financials showing losses and going concern

PANACEA LIFE SCIENCES HOLDINGS, INC.

N7 had $326k revenue and $82k net loss in 2022; 6mo2023 revenue $1.18M, net loss $147k.
Auditors express substantial doubt about N7's ability to continue as a going concern.
Acquisition consideration: 784 preferred shares convertible into 7.84M common shares of Panacea.
N7 started operations Nov 2022; negative cash flows and accumulated deficit noted.
Pro forma financials combine Panacea and N7 for six months ended June 30, 2023 and year ended Dec 31, 2022.

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