COSM is internationally recognized as one of the foremost meetings globally for the otolaryngology-head and neck surgery community. By convening multiple leading otolaryngology societies, the conference serves as a comprehensive academic platform dedicated to disseminating cutting-edge research, delivering advanced clinical education, and fostering collaboration among specialists to enhance patient care in head and neck medicine and surgery. Baird Medical's participation in COSM highlights the expanding app ...

Core Viewpoint - Cosmos Health Inc. has announced that its CEO, Greg Siokas, has significantly increased his ownership stake in the company by acquiring 1,466,764 common shares valued at $526,000, reflecting his confidence in the company's future prospects [1][2][3] Company Overview - Cosmos Health Inc. is a diversified, vertically integrated global healthcare group, incorporated in 2009 in Nevada, focusing on innovative R&D and owning proprietary pharmaceutical and nutraceutical brands [5] - The company manufactures and distributes healthcare products and operates a telehealth platform, with a global distribution network expanding throughout Europe, Asia, and North America [5] Recent Transactions - Greg Siokas has invested over $1.3 million in the past five months, increasing his total ownership to 5,582,066 common shares, with a cumulative investment exceeding $18 million since the company's inception [2][3] Product and Service Offerings - Cosmos Health owns a portfolio of brands including Sky Premium Life®, Mediterranation®, bio-bebe®, C-Sept®, and C-Scrub®, and manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices under European Good Manufacturing Practices [5] - The company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, utilizing artificial intelligence for drug repurposing and focusing on novel patented nutraceuticals and innovative OTC products [5]

CHICAGO, April 16, 2025 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the “Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, today reported financial results for the full year ended December 31, 2024. Full Year 2024 Financial Highlights Income Statement: FY 2024 performance was ma ...

Financial Performance - Total revenue for the year ended December 31, 2024, was $54,426,402, a slight increase from $53,376,874 in 2023, representing a growth of approximately 2%[266] - Gross profit for 2024 was $4,311,323, compared to $4,349,569 in 2023, indicating a decrease of about 0.9%[266] - Total operating expenses decreased to $19,856,153 in 2024 from $26,180,786 in 2023, reflecting a reduction of approximately 24%[266] - The net loss attributable to common stockholders for 2024 was $22,378,042, down from $25,783,834 in 2023, showing an improvement of about 13.5%[266] - Basic and diluted net loss per share for 2024 was $1.17, compared to $2.15 in 2023, indicating a reduction in loss per share[266] - Net loss for the twelve months ended December 31, 2024, was $16,183,018, compared to a net loss of $18,542,654 for the same period in 2023, indicating a reduction in losses[271] - The company reported a total loss before income taxes of $16,183,018 for the year ended December 31, 2024, compared to a loss of $18,542,654 in 2023, indicating a reduction in losses[426] Assets and Liabilities - Total current assets decreased to $25,461,347 in 2024 from $36,607,780 in 2023, a decline of approximately 30.5%[264] - Total assets decreased to $54,311,892 in 2024 from $66,014,811 in 2023, representing a decrease of about 17.7%[264] - Total liabilities remained relatively stable at $29,778,963 in 2024 compared to $29,971,783 in 2023, showing a slight decrease of about 0.6%[264] - The accumulated deficit increased to $114,022,275 in 2024 from $91,644,233 in 2023, reflecting a rise of about 24.4%[264] - The company reported a negative working capital of $296,193 and an accumulated deficit of $114,022,275 as of December 31, 2024[285] Cash Flow and Capital Management - Cash flows from operating activities included stock-based compensation of $1,689,712 for 2024, compared to $577,931 in 2023, reflecting increased compensation expenses[271] - The company had cash at the end of the year amounting to $315,105, down from $3,833,195 at the beginning of the year[285] - The company intends to raise additional funds through equity offerings starting August 2025, utilizing an S-3 registration statement[289] - The Company raised approximately $6 million through a private placement of 6,000 Series A Convertible Preferred Stock and 80,000 warrants, with a deemed dividend of $5,788,493 recorded on issuance[377] Regulatory and Market Risks - The Company faces significant risks related to regulatory approvals, which can be time-consuming and costly, with potential adverse effects on product commercialization[123] - The U.S. Inflation Reduction Act of 2022 may impact the Company’s future business, particularly regarding Medicare pricing and rebates, although current sales in the U.S. are not applicable[122] - The Company is subject to extensive government regulations that may restrict its ability to sell products in certain markets, impacting its business model[110] - Geopolitical issues, such as the war in Ukraine, could adversely affect the Company's operations and financial condition due to its international business presence[115] Acquisitions and Investments - The company completed the acquisition of Cana for a total consideration of $5,469,787, which included $5,331,120 in cash and $138,667 in common stock[284] - The acquisition of ZipDoctor was finalized for a total of $158,788, which included $150,000 in cash and $8,788 in fees[277] - The company recognized a bargain purchase gain of $1,440,249 related to the acquisition of Cana[284] - The company issued 99,710 shares of common stock valued at $316,081 for the acquisition of a pharmaceutical distribution network from Bikas[279] Impairments and Write-downs - The company recorded an impairment charge of $454,280 in 2024, indicating potential asset write-downs[271] - The company recorded an impairment charge of $291,980 for the year ended December 31, 2024, related to certain branded pharmaceuticals and a telehealth platform[314] - The Company recognized a full impairment loss on its investment in CosmoFarmacy LP, writing off its entire carrying amount, which was $160,470 in 2023[360] Taxation and Deferred Tax Assets - The total deferred tax assets increased to $18,277,172 in 2024 from $14,418,483 in 2023, primarily due to an increase in net operating loss carryforwards[427] - The company has provided a valuation allowance of $18,041,879 against its deferred tax assets, reflecting management's assessment that realization of these assets is not likely[427] - The company recognized a total current tax provision of $0 for both 2024 and 2023, indicating no current tax liabilities[425] Management and Corporate Governance - Management has expressed substantial doubt regarding the company's ability to continue as a going concern[290] - The company has a related party transaction with Doc Pharma S.A., where the CEO of Doc Pharma is the son of the company's CEO, indicating potential conflicts of interest[432]

Core Insights - Cosmos Health Inc. has announced the completion of upgrades to its subsidiary Cana Laboratories' manufacturing capabilities and secured a five-year contract with Pharmex S.A. for the production of 300,000 bottles of the antiseptic drug AMBITASOL annually, totaling 1,500,000 units over the contract duration [1][3]. Company Overview - Cosmos Health Inc. is a diversified, vertically integrated global healthcare group that owns proprietary pharmaceutical and nutraceutical brands and operates a telehealth platform [4]. - The company completed the acquisition of Cana Laboratories in July 2023 and has since invested in upgrading its Athens facility, which is licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA) [3]. Manufacturing and Growth Strategy - Cana Laboratories is ramping up revenue generation from manufacturing its own products and those of third parties, with capabilities to produce a wide range of pharmaceuticals including tablets, capsules, syrups, and antiseptics [3]. - The contract with Pharmex is part of Cosmos Health's strategy to scale its high-margin contract manufacturing business and aims to secure additional agreements to expand its client base and strengthen cash flows [4]. Market Position and Distribution - Cosmos Health distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, through subsidiaries in Greece and the UK [4]. - The company is expanding its global distribution platform throughout Europe, Asia, and North America, with offices and distribution centers in Greece and the UK [4].

Core Insights - Cosmos Health Inc. has launched its Sky Premium Life food supplements brand in Albania in partnership with Pharma Cell, a leading consumer health and medical supplement company [1][4] - The initial annual order secured by Cosmos Health is valued at $300,000, with expectations for further collaboration growth with Pharma Cell [2] Company Overview - Cosmos Health Inc. is a diversified, vertically integrated global healthcare group, incorporated in 2009 in Nevada, owning proprietary pharmaceutical and nutraceutical brands [4] - The company manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices under European Good Manufacturing Practices (GMP) and is certified by the European Medicines Agency (EMA) [4] - Cosmos Health has established R&D partnerships targeting major health disorders and focuses on the development of novel patented nutraceuticals and innovative OTC products [4] Partner Company Profile - Pharma Cell, based in Tirana, specializes in the import and export of high-quality food supplements and was founded in 2021 by CEO Elvis Punmira [3] - The company has rapidly expanded its presence in Albania, serving a growing network of pharmacies and healthcare professionals [3]

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point for fast-moving stocks, which can lead to investments with limited upside or potential downside [2] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify suitable candidates [3] Group 2: Cosmos Health Inc. (COSM) Analysis - Cosmos Health Inc. (COSM) has shown a four-week price change of 16.9%, indicating strong recent price momentum and growing investor interest [4] - COSM has gained 0.2% over the past 12 weeks and has a high beta of 5.57, suggesting it moves 457% more than the market in either direction [5] - The stock has a Momentum Score of A, indicating a favorable time to invest based on momentum [6] Group 3: Earnings and Valuation - COSM has received a Zacks Rank 2 (Buy) due to upward revisions in earnings estimates, which typically attract more investor interest [7] - The stock is currently trading at a Price-to-Sales ratio of 0.32, suggesting it is undervalued at 32 cents for each dollar of sales, providing significant room for growth [7] Group 4: Additional Investment Opportunities - Besides COSM, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - Investors can explore over 45 Zacks Premium Screens tailored to different investing styles to identify potential winning stocks [9]

Acquisitions and Partnerships - The company reported a total acquisition cost of €800,000 and 46,377 shares of common stock for the acquisition of Cana Laboratories, completed on June 30, 2023[223]. - The acquisition of Bikas is expected to increase annual revenue by more than $10 million and enhance gross margins due to economies of scale[226]. - The acquisition of Cloudscreen, a cutting-edge AI platform, was completed for a total price of $637,080, enhancing the company's capabilities in drug repurposing[227]. - The company has established exclusive distribution agreements in multiple regions, including a significant partnership for the UAE market[219]. - The Company is committed to pursuing acquisitions and joint ventures to enhance its distribution network and product offerings[259]. Revenue and Financial Performance - The Company reported revenue of $12,411,048 for the three months ended September 30, 2024, a decrease of 3.22% compared to $12,823,797 in the same period of 2023, while for the nine months, revenue increased by 7.10% to $40,202,238 from $37,537,003[228]. - The net loss for the three months ended September 30, 2024, was $2,182,534, an improvement from a net loss of $3,415,077 in the same period of 2023, while the nine-month net loss increased to $6,639,935 from $4,790,597[228]. - Cost of goods sold for the three months ended September 30, 2024, was $11,204,186, a decrease of 3.49% from $11,609,039 in 2023, while for the nine months, it increased by 7.19% to $36,894,502 from $34,418,334[230]. - Gross profit for the three months ended September 30, 2024, was $1,206,862, a slight decrease of 0.65% from $1,214,758 in 2023, while for the nine months, gross profit increased by 6.06% to $3,307,736 from $3,118,669[232]. - Operating expenses for the three months ended September 30, 2024, decreased by 18.56% to $2,239,864 from $3,017,301 in 2023, primarily due to lower general and administrative costs[233]. - The Company had working capital of $11,027,653 as of September 30, 2024, down from $12,285,310 as of December 31, 2023[240]. - Net cash used in operating activities for the nine months ended September 30, 2024, was $3,883,215, a significant decrease from $16,587,726 in 2023[241]. - The Company recorded a foreign currency translation adjustment gain of $747,879 for the three months ended September 30, 2024, compared to a loss of $890,645 in the same period of 2023[239]. - Management expressed substantial doubt about the Company's ability to continue as a going concern for the next twelve months due to ongoing losses and accumulated deficit of $104,479,692[245]. Product Development and Market Expansion - The company has developed over 105 product codes in its proprietary nutraceutical line, which includes brands like "Sky Premium Life®" and "Mediterranation®"[209]. - The Company plans to expand its product portfolio to 150 SKUs by the end of 2023, including basic line formulas and advanced formulations[251]. - The Company is positioned to enter the global baby food market, valued at $102.90 billion annually, with its Bio-Bebe brand[264]. - The Company is expanding its antiseptic brand C-Sept with the launch of C-Scrub Wash, targeting the $29 billion global antiseptic market[264]. - The Company aims to enhance its distribution network through exclusive distributors, wholesalers, and e-commerce platforms in the EU, Asia, USA, and Canada[251]. - The Company is expanding its branded pharmaceuticals globally, particularly in the EU and UK, and enhancing exclusive distribution rights[252]. - The Company plans to invest in expanding production capacity and global facilities to boost sales and engage in contract manufacturing[259]. Operational Efficiency and Supply Chain - The company operates a distribution network exceeding 1,500 pharmacies in Greece and has established a high-end distribution center utilizing robotic systems[208]. - The company achieved a 0% error selection rate in its distribution processes, enhancing order fulfillment efficiency[207]. - The company has a robust supply chain with stable pharmaceutical supply from DocPharma, enhancing its expansion capabilities[206]. - The company maintains merchandise inventories valued at the lower of cost or market using the weighted-average cost method[278]. - The company records valuation reserves annually for merchandise damage, defective returns, slow-moving items, and obsolescence, estimating a reduction in value[278]. Internal Controls and Governance - The company plans to complete remediation of material weaknesses in internal controls by December 31, 2024[281]. - The company is updating its organizational chart to improve role allocation and share responsibilities among personnel[282]. - The company is developing multiple levels of review based on job responsibilities to enhance oversight in financial reporting[284]. - The audit committee is responsible for overseeing financial reporting and accounting processes, with independent directors serving on the committee[286]. - The audit committee meets at least four times a year and maintains direct communication with independent auditors[288]. - There have been no changes in internal control over financial reporting that materially affect the company[285]. - The company is assessing a new financial reporting application to improve IT General Controls[284]. - The company is not required to provide risk factor disclosures due to its status as a Smaller Reporting Company[289].

Financial Performance - Revenue for Q2 2024 was $13,206,717, representing a 6.82% increase from $12,363,429 in Q2 2023[174] - Revenue for the first half of 2024 was $27,791,190, an increase of 12.45% compared to $24,713,206 in the same period of 2023[174] - The net loss for Q2 2024 was $2,590,711, compared to a net loss of $981,530 in Q2 2023[174] - The net loss for the first half of 2024 was $4,457,401, up from a net loss of $1,441,393 in the same period of 2023[174] - The Company had a net loss of $4,457,401 for the six months ended June 30, 2024, with total revenue of $27,791,190[189] Revenue Drivers - The increase in revenue is attributed to the wholesale revenue stream and the contribution from the acquisition of Cana[174] - The company completed the acquisition of Cana for €800,000 and 46,377 shares of common stock valued at $800,000[170] - The acquisition of Bikas is projected to increase annual revenue by more than $10 million and enhance gross margins[172] - The company acquired Cloudscreen, an AI-powered platform for drug repurposing, for a total price of $637,080[173] Cost and Expenses - The Company reported a cost of goods sold of $12,349,469 for the three months ended June 30, 2024, an increase of 8.96% compared to $11,416,595 for the same period in 2023[175] - Gross profit decreased by 18.97% to $767,248 for the three months ended June 30, 2024, down from $946,834 in 2023, primarily due to decreased sales in high-margin revenue streams[177] - Operating expenses for the three months ended June 30, 2024, were $2,502,026, a decrease of 7.21% compared to $2,576,465 in 2023, with general and administrative costs decreasing by 30.48%[178] Working Capital and Investments - As of June 30, 2024, the Company had working capital of $8,593,711, down from $12,285,310 as of December 31, 2023[184] - The company intends to strengthen working capital and invest in R&D, sales, and marketing, although actual expenditures may differ from planned allocations due to industry uncertainties[206] - The Company raised $649,039 from the sale of 901,488 shares of common stock during the six months ended June 30, 2024[187] Strategic Initiatives - The Company plans to expand its product portfolio to 150 SKUs by the end of 2023, focusing on various customer needs and advanced formulations[193] - The Company intends to enhance its geographic expansion in the EU, Asia, USA, and Canada through exclusive distributors and acquisitions of nutraceutical companies[193] - Management plans to vertically integrate the supply chain distribution network and evaluate acquisition targets to expand distribution[191] - The company plans to actively pursue acquisitions to enhance its distribution network, focusing on discounted assets through business combinations or joint ventures[200] - The company aims to expand its R&D division to develop new patented pharmaceuticals and innovative nutraceutical products, fostering organic growth through enhanced marketing efforts[200] Market Opportunities - The pharmaceutical sector presents significant growth potential in the European market, contingent on aligning services, pricing, and quality with customer requirements[198] - The company is experiencing strong demand for its branded nutraceuticals, with positive feedback from major health events[202] - Sky Premium Life products are being sold in over 1,600 stores across 18 countries, generating approximately $1 billion in annual revenue for Holland & Barrett, a key retailer[203] - The company is launching Mediterranation, a premium food supplements brand, utilizing organic herbs and plant extracts from the Mediterranean region[204] - The global baby food market is valued at $102.90 billion, presenting an opportunity for the relaunch of the Bio-Bebe brand[205] - The global antiseptic and disinfectant market is worth $29 billion, with the company positioned to capitalize on this through the expansion of the C-Sept brand[205] Internal Controls and Governance - The company is addressing material weaknesses in its internal controls and plans to complete remediation by December 31, 2024[217] - The internal control structure currently lacks proper segregation of duties and multiple levels of review and oversight[218] - A new financial reporting application is being assessed to enhance IT General Controls and improve financial reporting efficiency[219] - The Audit Committee is responsible for overseeing the financial reporting and accounting processes, and it meets at least four times a year[223] - There have been no changes in internal control over financial reporting that materially affect the Company[220] - The Audit Committee maintains direct communication with independent auditors and is authorized to investigate any matters brought to its attention[222] - The Company is updating its organizational chart to better allocate roles and responsibilities among personnel[218] - Management reviews bank reconciliations and discrepancies between the general ledger and bank statements to ensure timely reporting[219] - The Audit Committee includes three independent directors and is chaired by Dr. Anastasios Aslidis[221] - The Company plans to enhance its IT risk management and control design to address existing weaknesses[217]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Nevada 27-0611758 (State or other jurisdiction of Company or organization) (I.R.S. Employer Identification No.) FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT For the transition period from __________ to __________ Commission file number: 000-54436 COSMOS HEALTH INC. (E ...