ProPhase Labs, Inc. has filed an amendment (Amendment No. 1) to its Quarterly Report on Form 10-Q for the period ended March 31, 2026. This amendment is primarily to address the delayed finalization of the independent registered public accounting firm's review of the interim financial statements. The company reported a net loss of $5.4 million for the three months ended March 31, 2026, compared to a net income of $4.0 million in the same period of 2025. This loss is primarily from continuing operations. Revenues for the first quarter of 2026 were $0.5 million, a decrease from $1.4 million in the first quarter of 2025, mainly due to a decline in consumer product sales. Diagnostic services generated no revenue in either period. Operating expenses, particularly general and administration, decreased to $2.8 million from $4.1 million, largely due to reduced personnel expenses, overhead, and professional fees. The company faces substantial doubt regarding its ability to continue as a going concern, with minimal cash resources ($31,000 as of March 31, 2026) and a significant working capital deficit. Management is pursuing various strategies to improve liquidity, including reducing expenditures, focusing on core genomics and biotech businesses, pursuing collections, and evaluating strategic alternatives like asset monetization and financing. Three of the company's subsidiaries (ProPhase Diagnostics, Inc., ProPhase Diagnostics NY, Inc., and ProPhase Diagnostics NJ, Inc.) filed for Chapter 11 reorganization in September 2025 due to the cessation of COVID-19 diagnostic testing claims payments.