--- title: "Wellstreet Senior Living Reports Going-Concern Doubt, $2.7 Million Raised and No Senior Living Investment Yet" url: https://altstreet.investments/news/wellstreet-senior-living-1-k-going-concern-2-7m-raised-2026-10-26 kind: news-article updated: 2026-10-27 description: "Wellstreet Senior Living's FY2026 1-K: going-concern doubt, $2.70M raised from preferred shares, assets in T-bills, $81,308 dividends unpaid, offering stopped Aug. 31." publisher: AltStreet (https://altstreet.investments) license: Public factual pages may be read, quoted and cited with attribution and a link. Bulk redistribution is not permitted. --- # Wellstreet Senior Living Reports Going-Concern Doubt, $2.7 Million Raised and No Senior Living Investment Yet The former Worthy Senior Living's annual report for the year to June 30, 2026 carries a going-concern paragraph, shows its $2.6 million of assets held in cash, Treasury bills and CDs, and reports $81,308 of preferred dividends unpaid. It stopped selling its $10 preferred shares on August 31. By Michael E., Head of Research, AltStreet Research (https://altstreet.investments/authors/michael-e). Published October 27, 2026. Platform: Worthy (https://altstreet.investments/platforms/reviews/worthy). Entity: Wellstreet Senior Living, Inc. (CIK 2054462, https://altstreet.investments/edgar/2054462). Wellstreet Senior Living, Inc., the Alpharetta, Georgia issuer that sold $10 preferred shares through its parent's investing app and was called Worthy Senior Living until July, filed its annual report on October 26, 2026. Its auditor included a going-concern paragraph, and the financial statements show that by June 30, about 14 months after its Regulation A offering was qualified, the company had raised $2.70 million and had not yet made the senior living investments it was formed to make. It stopped selling shares on August 31. ## What the 1-K shows The company describes its business as investing in existing but underperforming senior living facilities. At June 30, 2026 its balance sheet held $352,502 of cash and $2,241,030 of investments, made up of $2,086,059 of Treasury bills and $154,971 of certificates of deposit, for total assets of $2,593,532. It reported no revenue. Its net loss was $279,265 for the year, after $78,066 of interest and dividends on those securities. The prior period ran only from the company's formation on December 3, 2024 to June 30, 2025, so the year-on-year expense comparison spans different lengths of time. Key figures from the 1-K: | Item | Year to June 30, 2026 | Dec 3, 2024 to June 30, 2025 | | --- | --- | --- | | Preferred shares issued for cash | $2,143,890 (214,399 shares) | $556,870 (55,677 shares) | | Total operating expenses | $315,249 | $130,713 | | Net loss | $279,265 | $30,713 | | Cash at period end | $352,502 | $584,623 | | Treasury bills and CDs at period end | $2,241,030 | None | | Preferred dividends in arrears and unpaid | $81,308 | $2,253 | Source: Form 1-K for the year ended June 30, 2026 (0001493152-26-048473). ## The shares and the dividends The SL Preferred Shares are perpetual, cost $10 each and accrue dividends at 5% a year for 36 months and 7% after that. Holders cannot ask for their money back; shares are redeemed, pro rata, only when the company sells or refinances a senior living investment. The first dividend became payable on the first anniversary of the first share issuance, which the 1-K places in April 2026, with quarterly payments after that. At June 30 the balance sheet records $81,308 as dividends payable on the preferred stock, and the notes describe the same amount as 'in arrears and unpaid'; $7,999 was paid during the year. The 1-K does not split that balance between dividends already past a payment date and dividends accrued toward the next quarterly payment, so it does not establish whether a scheduled payment was missed. The only condition on payment it states is a risk factor: dividends due may exceed the funds legally available to pay them, which could delay payment. Until the offering raises enough, the company relies on advances from its parent, Wellstreet Financial, Inc. (formerly Worthy Wealth, Inc.), which is not obligated to make them. The 1-K states: 'We will not be paying back any of the funds advanced to us by WSF and therefore there is no interest rate or maturity associated with such advances.' The $184,231 'due to related parties' at June 30 is a different category. $181,150 of it is owed to Wellstreet Management for staff costs it paid on the company's behalf (the year's $177,678 compensation expense was payroll allocated from that affiliate), with $2,778 owed to the parent and $303 to two other affiliates. Under the Management Services Agreement those reimbursements are owed, carry no interest or maturity, and accrue until the company can pay them from offering proceeds allocated to working capital. ## The rename and the stopped offering The company changed its name from Worthy Senior Living, Inc. to Wellstreet Senior Living, Inc. on July 13, 2026, according to a Form 1-U filed the next day. A second Form 1-U, filed September 1, says that on August 31 the company 'terminated its Regulation A Offering' and 'will no longer offer securities for purchase thereunder'. The 1-K uses softer wording: it 'ceased offering securities' and 'may resume the offering in the future'. This is the company's second annual report; the first, for the period to June 30, 2025, was filed in October 2025 under the Worthy name. The 1-K also records that in February 2026 the parent terminated its 2023 agreement to buy the Worthy Property Bonds issuers. AltStreet's Worthy review covers those issuers and the wider restructuring. ## Why it matters The auditor's stated basis is that the company has generated no revenue and has a limited operating history, which raise substantial doubt about its ability to continue as a going concern for 12 months from the report's issuance; the year's net loss was about $279,000 and cash used in operations about $273,000. Around that finding, the company raised about 3.6% of its $74.9 million offering, has kept the money in Treasury bills rather than senior living properties, has stopped raising, owes accrued dividends, and depends on a parent that has no obligation to fund it. Because redemption is tied to the sale or refinancing of a senior living investment and the company has none on its balance sheet, the 1-K describes no event that would currently return holders' capital. ## What the filing does not show The 1-K does not explain why the offering stopped, whether the company has identified any senior living investment, how many investors hold the shares or what the parent's own financial position is. It does not say whether the unpaid dividends reflect a missed payment date. A going-concern paragraph records the auditor's substantial doubt about the next 12 months; it is not a prediction of insolvency. ## Key facts - Wellstreet Senior Living, Inc. filed its Form 1-K for the year ended June 30, 2026 on October 26 (0001493152-26-048473); its auditor included a going-concern paragraph. - It had issued 270,076 SL Series A Preferred Shares for $2,700,760 by June 30, 2026, against a $74,875,000 Regulation A offering. - Its $2,593,532 of total assets were cash ($352,502) and Treasury bills and certificates of deposit ($2,241,030); no senior living investment appears on the balance sheet. - Preferred dividends of $81,308 were in arrears and unpaid at June 30; $7,999 was paid during the year. - A September 1 Form 1-U says the Regulation A offering was terminated on August 31; the 1-K says the company ceased offering and may resume. ## Sources - Form 1-K, Wellstreet Senior Living, Inc. (year ended June 30, 2026): https://www.sec.gov/Archives/edgar/data/2054462/000149315226048473/partii.htm - Form 1-U, Wellstreet Senior Living, Inc. (Sept. 1, 2026): offering terminated: https://www.sec.gov/Archives/edgar/data/2054462/000149315226040917/form1-u.htm - Form 1-U, Wellstreet Senior Living, Inc. (July 14, 2026): name change: https://www.sec.gov/Archives/edgar/data/2054462/000149315226039810/form1-u.htm - Worthy Bonds Review 2026: https://altstreet.investments/platforms/reviews/worthy ## SEC accession numbers - 0001493152-26-048473 - 0001493152-26-040917 - 0001493152-26-039810 --- Source page: https://altstreet.investments/news/wellstreet-senior-living-1-k-going-concern-2-7m-raised-2026-10-26 Machine index: https://altstreet.investments/llms.txt AltStreet reads what platforms, funds and issuers file with the SEC and what they tell investors, and publishes the difference. Figures are as filed or as captured on the date stated; nothing here is investment advice.