Arcadia Resources Inc. (OTCBB: KADR.PK) sold its pharmacy division effect Feb. 17, but it still plans to sell its homecare and healthcare staffing operations — which would leave the company without any operating businesses, according to a 10-Q filing today with the U.S. Securities and Exchange Commission.

The company reported it is in discussion with a number of parties regarding a sale of the staffing business. However, Arcadia reported it has $40 million in debt and even if the homecare and healthcare businesses were sold, proceeds are not expected to be enough to repay the debt, according to the filing.

Arcadia posted $2.9 million in per diem medical staffing revenue in its fiscal third quarter ended Dec. 31, 2011, up 2.3 percent from $2.8 million in the same period last year.

On the other hand, travel healthcare staffing revenue dropped 85.0 percent to $201,000 in the third quarter from $1.3 million a year ago. The company was not awarded a new contract by the North Carolina Department of Corrections. The contract accounted for approximately $4.1 million in revenue in the previous fiscal year.

Arcadia’s homecare operations posted revenue of $17.5 million in the third quarter, up 3.4 percent from the year-ago quarter.

Total third-quarter revenue was $20.6 million, down 2.3 percent from the same period a year ago. Gross margin narrowed to 29.6 percent from 30.3 percent.

Arcadia posted a third-quarter net loss of $9.8 million, including a $7.8 million charge for goodwill and intangible asset impairment. The company posted a net loss of $2.3 million in the year-ago quarter.

The company sold its pharmacy segment to Medication Adherence Solutions LLC, a subsidiary of The Walgreen Co., for cash proceeds of $2.0 million, which were paid to a creditor. The sale leaves the company with only its homecare and healthcare staffing operations.