Financial Performance - Nakamoto reported a total revenue of $444,924 for Q4 2025, a decrease from $603,887 in Q4 2024[9] - For the year ended December 31, 2025, total revenue was $1.82 billion, a decrease from $2.72 billion in 2024[15] - Revenue for Q4 2025 was $444.9 million, a decrease of 26.4% compared to $603.9 million in Q4 2024[27] - The net income for Q4 2025 was $37.3 million, compared to a net loss of $1.0 million in Q4 2024[27] - The company reported a basic net income per share of $0.07 for Q4 2025, compared to a loss of $0.17 per share in Q4 2024[27] - The company reported a total non-operating income of $198.0 million for Q4 2025, compared to $21.1 million in Q4 2024[27] Operating Expenses and Losses - Operating expenses for Q4 2025 totaled $161.2 million, compared to $1.6 million in Q4 2024, primarily driven by compensation and administrative costs[9] - Total operating expenses for Q4 2025 were $161.2 million, significantly higher than $1.6 million in Q4 2024, primarily due to a loss on change in fair value of digital assets of $142.6 million[27] - The adjusted operating loss (non-GAAP) for Q4 2025 was $5.2 million, reflecting a significant increase in operational focus on Bitcoin-related activities[9] - Adjusted operating loss (non-GAAP) for the year was $(13.6) million, excluding certain expenses[25] - Operating loss for the year ended December 31, 2025 was $197.1 million, compared to a loss of $3.3 million for the year ended December 31, 2024[27] Digital Assets and Investments - The company experienced a loss on changes in the fair value of digital assets amounting to $142.6 million, reflecting a decline in Bitcoin value from $114,078 to $87,519[10] - The loss on changes in fair value of digital assets was $166.2 million, reflecting a decline in Bitcoin value from an average purchase price of $118,171 to $87,519[16] - The company incurred a loss on investments of $10.8 million in Q4 2025, while there were no such losses reported in Q4 2024[27] - Nakamoto continues to view its Bitcoin holdings as a long-term strategic treasury asset, separating long-term exposure from short-term liquidity needs[20] Strategic Initiatives and Acquisitions - The company initiated an exit from its legacy Healthcare Operations, which is expected to reduce operating losses and streamline its cost structure[11] - Nakamoto completed the acquisitions of BTC Inc and UTXO Management in February 2026, enhancing its media, asset management, and advisory capabilities[6] - The company aims to reinvest operating cash flow into growth initiatives and Bitcoin accumulation, enhancing capital allocation flexibility[6] - Nakamoto's strategic transformation includes a focus on building a scalable Bitcoin-native operating business with diversified revenue streams[5] - Management expects improved operating performance as the integration of new subsidiaries progresses and the cost structure is streamlined[8] - The company plans to expand its market presence and explore new product development opportunities in the upcoming fiscal year[27] Shareholder Information - As of March 27, 2026, shares outstanding increased to 690,018,254, with fully diluted shares at 892,723,518[21] - Fully diluted shares outstanding increased to 526.1 million as of December 31, 2025, from 511.6 million in the previous quarter[28] - As of December 31, 2025, the company's enterprise value was $341 million, with a market capitalization of $154 million and notes payable of $210 million[21] Transaction-Related Costs - Transaction-related expenses amounted to $5.0 million, primarily due to costs associated with the Nakamoto merger[18] - Operating losses in healthcare operations were driven by decreased cash-pay patient services and the closure of one clinic[18]

Revenue and Loss - Revenue for the year ended December 31, 2025, was $1.82 million, a decrease of 33% from $2.72 million in 2024[362]. - The company reported a net loss before provision for income taxes of $52.23 million for 2025, compared to a loss of $3.62 million in 2024[355]. - The loss on change in fair value of digital assets was $166.09 million, reflecting a decline in Bitcoin price from $114,078 to $87,519 per Bitcoin[360]. - The loss on investments for 2025 was $9.92 million, primarily due to a decline in the fair value of Metaplanet common stock[361]. - The company experienced a loss on the acquisition of Nakamoto Holdings amounting to $59.8 million due to the difference between the fair value of shares issued and net liabilities acquired[371]. Operating Expenses - Total operating expenses for 2025 were $198.96 million, significantly up from $6.07 million in 2024, primarily due to costs associated with the Nakamoto Merger[355]. - General and administrative expenses increased to $11.76 million in 2025 from $1.91 million in 2024, largely due to transaction-related costs from the Nakamoto Merger[364]. Cash Flow and Liquidity - The company reported a net cash used in operating activities of $23.5 million for the year ended December 31, 2025, compared to $3.1 million in 2024, primarily due to an increase in net loss[377]. - The net cash used in investing activities was $680.0 million for the year ended December 31, 2025, significantly higher than $0.4 million in 2024, due to the net purchase of 5,342 Bitcoin[378]. - The net cash provided by financing activities was $723.8 million for the year ended December 31, 2025, compared to $5.2 million in 2024, driven by PIPE financings and proceeds from debt[379]. - The company’s liquidity is primarily supported by Bitcoin holdings, cash, and equity securities sales, with cash requirements focused on debt servicing and overhead expenses[368]. - As of December 31, 2025, the company held approximately 1,625 unencumbered Bitcoin worth approximately $142.2 million, cash and cash equivalents of $22.6 million, and an investment in publicly traded stock of $20.7 million[370]. Acquisitions and Investments - The acquisition of BTC Inc and UTXO on February 20, 2026, involved issuing 364,795,104 shares valued at $81.6 million[352]. - The fair value of the call option to acquire BTC Inc increased by $226.4 million as of December 31, 2025, allowing the company to purchase BTC Inc at $1.12 per share[371]. - The company plans to use proceeds from the sale of approximately 284 Bitcoin for $20 million to invest further in its businesses and replenish working capital[370]. Debt and Financing - The company entered into a Master Loan Agreement with Kraken for a loan of 210.0 million USDT at an 8.0% fixed rate, maturing on December 4, 2026, with 3,717 of its 5,342 Bitcoin held as collateral[369]. - The company approved a 2025 Repurchase Program to buy back up to $10 million worth of its Common Stock, with approximately $0.7 million repurchased by December 31, 2025[375]. Business Strategy - The company intends to exit its legacy healthcare business as of March 2026[365]. - As of December 31, 2025, the company held approximately 5,342 Bitcoin with a carrying value of $467.5 million, highlighting the significant market risk associated with Bitcoin price volatility[392][393].

Financial Performance - Total revenue for Q3 2025 was $0.4 million, down from $0.6 million in Q3 2024, reflecting the performance of the healthcare business[7] - Total operating expenses in Q3 2025 were $10.8 million, significantly higher than $1.7 million in Q3 2024, primarily due to increased SG&A costs related to the Bitcoin strategy[7] - Net loss for Q3 2025 was $86.0 million, or $(0.42) per diluted share, compared to a net loss of $1.0 million, or $(0.17) per diluted share in Q3 2024[7] Bitcoin Strategy - As of September 30, 2025, the company had accumulated a total of 5,765 Bitcoin at a weighted average price of $118,204.88 per Bitcoin, totaling approximately $681 million[4] - The company raised approximately $540 million from a private placement and $200 million in convertible notes to fund Bitcoin purchases as part of its treasury strategy[2] - The company plans to prioritize investments in Bitcoin-related businesses with recurring revenue and strong margins to support its long-term strategy[6] Corporate Developments - The company completed a merger with Nakamoto, establishing it as a wholly owned subsidiary, and appointed Amanda Fabiano as COO to lead strategic execution[3] - The company established a $5 billion at-the-market equity offering program, raising $5.6 million at an average share price of $4.15 per share[3] - Two strategic investments were closed during the quarter: a $15 million investment in Treasury BV and a $30 million investment in Metaplanet Inc.[3] Market Valuation - As of September 30, 2025, the company's enterprise value was approximately $635.9 million, calculated from a market capitalization of $457.1 million[8]

Financial Performance - Revenue for the three months ended September 30, 2025, was $388,209, a decrease of 40% compared to $647,867 for the same period in 2024[14]. - The net loss for the three months ended September 30, 2025, was $86.04 million, compared to a net loss of $1.01 million for the same period in 2024, highlighting a significant deterioration in financial performance[14]. - The company reported a loss per common stock of $0.42 for the three months ended September 30, 2025, compared to a loss of $0.17 for the same period in 2024[14]. - For the nine months ended September 30, 2025, the company reported a net loss of $89,487,606 compared to a net loss of $2,616,126 for the same period in 2024, indicating a significant increase in losses[20]. - The company reported a substantial net loss of $(86,035,808) for the quarter ending September 30, 2025, indicating a critical financial situation[17]. Assets and Liabilities - As of September 30, 2025, total assets increased to $692.42 million from $3.68 million as of December 31, 2024, reflecting significant growth in digital assets and investments[12]. - Total current liabilities rose to $214.46 million as of September 30, 2025, compared to $606,050 as of December 31, 2024, reflecting increased financial obligations[12]. - Cash and cash equivalents increased to $24.19 million as of September 30, 2025, compared to $2.27 million as of December 31, 2024, indicating improved liquidity[12]. - The total stockholders' equity as of September 30, 2025, was $477,562,085, compared to $2,568,310 as of December 31, 2024[12]. Operating Expenses - Operating expenses for the nine months ended September 30, 2025, totaled $15.22 million, up from $4.44 million in the same period of 2024, indicating a substantial increase in operational costs[14]. - Total operating expenses for the three months ended September 30, 2025, amounted to $10,793,731, a significant increase from $1,697,685 in the same period of 2024[115]. - The company recorded a loss from operations of $10,405,522 for the three months ended September 30, 2025, compared to a loss of $1,049,818 for the same period in 2024[14]. Digital Assets - The company recorded a realized loss on digital assets of $1.41 million for the three months ended September 30, 2025[14]. - The company reported unrealized losses from digital assets amounting to $22,105,029 for the nine months ended September 30, 2025[20]. - As of September 30, 2025, the Company held 5,398 Bitcoin, with a cost basis of approximately $681 million and a fair value of $615,798,837[69]. - The Company experienced an unrealized loss from remeasurement of digital assets of $22,066,010 for the three months ended September 30, 2025[71]. Stock and Financing Activities - The company issued 1,240,910 shares of common stock in connection with a public offering, raising approximately $5,860,650[16]. - The issuance of common stock in connection with PIPE financings totaled 346,192,232 shares, raising approximately $521,384,953[17]. - The company raised $518,080,468 through the issuance of common stock related to PIPE financings during the nine months ended September 30, 2025[20]. - The Company completed a private placement raising approximately $512 million at a purchase price of $1.12 per share in connection with the merger[52]. Strategic Initiatives - The company has initiated a Bitcoin treasury and investment strategy, focusing on acquiring Bitcoin and investing in Bitcoin-focused companies globally[24]. - The Company entered into a merger agreement with Nakamoto Holdings, acquiring all issued and outstanding securities of Nakamoto, a privately held Bitcoin treasury company[50]. - The company operates under a single reportable segment focusing on holistic pain management while deploying corporate treasury assets for Bitcoin acquisition[42]. Accounting and Compliance - The Company is currently evaluating the impact of recently issued accounting standards on its financial statements, including ASU 2023-09 and ASU 2024-03[45][47].

Financial Performance - Net revenues for the six months ended June 30, 2025, were $988,182, a decrease of 33% from $1,468,086 in the same period of 2024[14] - Operating expenses for the six months ended June 30, 2025, totaled $4,421,414, an increase of 61% compared to $2,742,406 in the prior year[14] - The net loss for the six months ended June 30, 2025, was $3,451,798, compared to a net loss of $1,601,979 for the same period in 2024, reflecting a 115% increase in losses[14] - The company reported a loss per common share of $0.54 for the six months ended June 30, 2025, compared to a loss of $0.33 in the same period of 2024[14] - Total net revenues for the six months ended June 30, 2025, were $988,182, a decrease of 32.6% from $1,468,086 in the same period of 2024[32] - The accumulated deficit increased to $11,227,499 as of June 30, 2025, from $7,775,701 as of December 31, 2024, marking a rise of 44.5%[12] Assets and Liabilities - Total assets increased to $9,890,282 as of June 30, 2025, compared to $3,677,992 as of December 31, 2024, representing a growth of 168%[12] - Cash and cash equivalents rose to $6,024,604 as of June 30, 2025, up from $2,273,624 at the end of 2024, marking a 164% increase[12] - The total liabilities decreased to $923,394 as of June 30, 2025, from $1,109,682 at the end of 2024, a reduction of 17%[12] - The total property and equipment, net, as of June 30, 2025, was $84,058, down from $122,955 as of December 31, 2024[35] - As of June 30, 2025, the total operating lease liabilities amounted to $559,018, a decrease from $634,760 as of December 31, 2024, reflecting a reduction of approximately 11.9%[38] Shareholder Equity and Stock Activity - Stockholders' equity increased to $8,966,888 as of June 30, 2025, from $2,568,310 at the end of 2024, indicating a growth of 250%[12] - The number of common shares outstanding increased to 7,576,321 as of June 30, 2025, from 6,050,148 as of December 31, 2024[12] - The company issued 1,455,990 shares of common stock upon the exercise of warrants, contributing to the increase in stockholders' equity[17] - The company recorded stock-based compensation expense related to stock options of $552,864 for the six months ended June 30, 2025, compared to $15,500 for the same period in 2024, indicating a significant increase[55] - The company issued 1,511,320 shares from warrant exercises, generating a total of $9,216,534 from these exercises[76] Cash Flow - Cash flows from operating activities resulted in a net cash outflow of $2,776,302 for the six months ended June 30, 2025, compared to an outflow of $1,126,976 in 2024[20] - Net cash used in investing activities for the six months ended June 30, 2025, was $2,521,108, compared to $11,182 in the same period of 2024[20] - Net cash provided by financing activities was $9,048,390 for the six months ended June 30, 2025, compared to $5,352,664 in 2024[20] Digital Assets - Digital assets held by the company included 21 BTC with a cost basis of $2,289,585 and a fair value of $2,250,566 as of June 30, 2025[33] - The company recognized an unrealized loss of $39,019 from the remeasurement of digital assets during the six months ended June 30, 2025[34] - The company incurred an unrealized loss on digital assets of $39,019 for the six months ended June 30, 2025[14] Merger and Financing Activities - The Company approved a Merger Agreement with Nakamoto, with the transaction including PIPE Financing of approximately $511.7 million at a price of $1.12 per share[68] - The Company plans to increase the number of authorized shares of Company Common Stock to 10 billion as part of the Governance Proposal[68] - The Additional PIPE Financing was approved for an aggregate amount of approximately $51.5 million at a price of $5.00 per share[69] - The Merger Agreement includes a termination fee of $2.5 million payable by either party under certain conditions[73] - On May 18, 2025, approximately 50.76% of the voting power approved the Merger and related transactions[71] - On June 19, 2025, approximately 50.14% of the voting power approved the Additional PIPE Issuance and related transactions[72]

Core Viewpoint - Two companies related to Bitcoin are set to go public in the U.S. through mergers, both closely linked to former President Trump [1][2]. Group 1: Company Mergers - "American Bitcoin" announced a merger with Gryphon Digital Mining, with Hut 8 as a major investor, holding 80% of the new company [4]. - The merger is expected to be completed by Q3 of this year, with the new entity trading under the ticker "ABTC" on NASDAQ [4]. - Gryphon's stock surged by 173% following the announcement of the merger [4]. Group 2: Financial Performance - Hut 8 reported a revenue of $21.8 million, a nearly 58% year-over-year decline, with a net loss of $134 million compared to a profit of $250 million in the same period last year [5]. - The revenue drop was attributed to a "halving" event in Bitcoin mining and operational downtime for equipment upgrades [5]. Group 3: Strategic Goals - Eric Trump views the merger as part of a broader strategy to solidify the U.S.'s leadership in the global Bitcoin mining competition [5][6]. - The merger aims to secure growth capital independent of Hut 8's balance sheet while retaining long-term Bitcoin appreciation opportunities for shareholders [5]. Group 4: Additional Mergers - Kindly MD announced a merger with Nakamoto Holdings, a Bitcoin investment company founded by Trump's cryptocurrency advisor, David Bailey [9]. - The merger is expected to generate $510 million through a private placement and an additional $200 million via convertible bonds [9]. - Kindly MD's stock rose by 251% following the merger announcement [9]. Group 5: Market Impact - The cryptocurrency market showed minimal reaction, with Bitcoin trading around $104,000, remaining stable over the past 24 hours [18].

Core Viewpoint - Kindly MD's stock price surged by 250% following the announcement of a merger with Nakamoto Holdings, a Bitcoin investment company founded by David Bailey, a key cryptocurrency advisor to former President Donald Trump [1] Group 1: Merger Details - The newly formed company post-merger has secured $200 million in convertible debt and $510 million in new capital through a private investment in public equity (PIPE) transaction, with a share price of $1.12 [1] - The conversion price for the bonds is set at $2.80, which is higher than the stock issuance price, and these bonds will be zero-interest for the first two years [1] Group 2: Investment and Support - Since the announcement, the project has attracted additional investment commitments amounting to hundreds of millions, with Bailey stating he raises about $100 million daily [2] - Over 200 investors are backing the financing, including notable firms like Actai Ventures and Van Eck, as well as prominent individuals in the Bitcoin space [2] Group 3: Strategic Vision - The merger is seen as a strategic leap for Kindly MD, allowing it to expand its mission into the Bitcoin sector, with plans for a brand overhaul and a shift in focus towards Bitcoin-centric acquisitions [3][4] - The future vision includes creating a global business network centered around Bitcoin, with healthcare operations becoming a smaller part of the overall business [3] Group 4: Market Context - Bitcoin's trading price surpassed $102,000, marking a significant increase, with the company aiming to capitalize on the rising interest in Bitcoin as a financial asset [4] - Bailey's strategy focuses on buying and holding Bitcoin, which is becoming increasingly popular among investment firms looking to leverage cryptocurrency price movements [4][5] Group 5: Broader Implications - Bailey's influence extends beyond business, having consulted with the White House on digital asset policies, indicating a strong connection between cryptocurrency and political advisory roles [5]

Financial Performance - Net revenues for the three months ended March 31, 2025, were $579,655, down 30.1% from $829,029 in the same period of 2024[13]. - The net loss for the first quarter of 2025 was $1,038,011, compared to a net loss of $282,326 in Q1 2024, indicating a substantial increase in losses[13]. - The Company reported a loss per common share of $0.17 for Q1 2025, compared to $0.06 for Q1 2024[13]. - Patient care services revenue was $570,936 for the three months ended March 31, 2025, down from $785,843 in 2024, reflecting a decline of 27.3%[28]. - The Company reported $85,273 in reimbursements from insurance payers for the three months ended March 31, 2025, representing a 145.6% increase from $34,772 in 2024[29]. Assets and Liabilities - Total assets decreased from $3,677,992 to $2,563,591, a decline of approximately 30.3%[11]. - Total stockholders' equity fell from $2,568,310 to $1,529,050, a decrease of about 40.5%[11]. - Total liabilities decreased to $1,034,541 as of March 31, 2025, down 6.8% from $1,109,682 at December 31, 2024[11]. - Total property and equipment, net, decreased to $105,184 as of March 31, 2025, from $122,955 as of December 31, 2024, reflecting a decline of 13.0%[30]. Operating Expenses - Operating expenses increased significantly to $1,621,396, compared to $1,066,156, representing a 52% increase year-over-year[13]. - The company incurred $1,621,396 in total operating expenses, with salaries and wages accounting for $1,003,177, which is 61.8% of total operating expenses[13]. - Operating lease expense for the three months ended March 31, 2025, was $52,356, an increase from $34,642 in 2024[32]. - Total lease expense for the three months ended March 31, 2025, was $55,828, an increase of 58.5% from $35,289 in 2024[32]. - Stock-based compensation expense was $8,308 for the three months ended March 31, 2025, compared to $7,616 in 2024, reflecting an increase of 9.1%[42]. Cash Flow - Cash and cash equivalents decreased from $2,273,624 at the end of 2024 to $1,140,574, a reduction of approximately 50.1%[19]. - The company utilized $865,083 in cash from operating activities during the first quarter of 2025, compared to $213,439 in Q1 2024[19]. - The company reported a net cash used in operating activities of $865,083 for Q1 2025, compared to $213,439 for Q1 2024, indicating increased cash outflow[19]. Capital Expenditures - Capitalized software additions amounted to $173,448 in Q1 2025, indicating ongoing investment in technology[19]. - Capitalized software increased to $561,786 as of March 31, 2025, compared to $388,338 as of December 31, 2024, marking a growth of 44.5%[31]. Shareholder Actions - The Company repurchased 7,500 shares in treasury at a cost of $9,557 during the three months ended March 31, 2025[40]. - The company repurchased 7,500 shares of treasury stock, increasing the total treasury stock to $31,702 as of March 31, 2025[16]. - The weighted-average number of shares outstanding increased to 6,024,980 for Q1 2025, compared to 4,617,798 for Q1 2024[13]. Other Information - There were no material subsequent events that require disclosure as of the date of this filing[44]. - Total finance lease liabilities as of March 31, 2025, were $9,141, down from $9,645 as of December 31, 2024[35]. - As of March 31, 2025, the Company had 2,862,745 potential common share equivalents from stock options and warrants excluded from diluted loss per share calculations due to their anti-dilutive effect[39].

Financial Performance - The company reported revenues of $2,719,840 for the year ended December 31, 2024, a decrease of $1,048,758, or 27.8%, compared to $3,768,598 for the year ended December 31, 2023[210]. - Loss from operations was $(3,346,771), or (123.1)%, for the year ended December 31, 2024, compared to $(1,620,220), or (43.0)%, for the year ended December 31, 2023[208]. - The company reported a net loss of $(3,617,647), or (133.0)%, for the year ended December 31, 2024, compared to $(1,617,461), or (42.9)%, for the year ended December 31, 2023[208]. - Net loss increased to $3,617,647 for the year ended December 31, 2024, compared to $1,617,461 in 2023, with net loss per share rising by $0.31 or 86.7% to $(0.67)[2]. Operating Expenses - Operating expenses increased by $677,793, or 12.6%, to $6,066,611 for the year ended December 31, 2024, from $5,388,818 for the year ended December 31, 2023[211]. - General and administrative expenses increased by $551,007, or 40.6%, to $1,907,055, mainly due to increased professional fees and insurance expenses[1]. - Salaries and wages decreased by $136,062, or 3.7%, to $3,562,405 for the year ended December 31, 2024, primarily due to $351,833 less contract labor[1]. Revenue Sources - The company recognized $347,633 in reimbursements from insurance payers for the twelve months ended December 31, 2024, representing a 1,088% increase compared to $29,265 for the same period in 2023[209]. - Cost of revenues was $82,814, or 3.0% of revenues, for the year ended December 31, 2024, compared to $226,166, or 6.0% of revenues, for the year ended December 31, 2023[208]. - Cost of revenues decreased by $143,352, or 63.4%, to $82,814, due to the elimination of white-labeled retail products[1]. Research and Development - Research and development expenses increased to $377,731, or 13.9% of revenues, for the year ended December 31, 2024, from $2,500, or 0.1% of revenues, for the year ended December 31, 2023[208]. - Research and development expenses surged by $375,231, or 15,009.2%, to $377,731, attributed to the development of Enterprise Data Management infrastructure[1]. Cash Flow and Capital - Cash used in operating activities was $3,073,891, compared to $449,489 in 2023, primarily due to the increase in net loss[6]. - Cash provided by financing activities was $5,223,646, significantly up from $802,491 in 2023, mainly due to net proceeds from the issuance of common shares[7]. - Working capital increased by $2,097,122, or 1,061.7%, to $1,899,602, primarily due to $5.9 million in net proceeds from the IPO[3]. - Total assets rose by $2,578,790, or 234.6%, to $3,677,992, driven by increases in cash and cash equivalents, right of use assets, and capitalized software[4]. - Total liabilities decreased by $97,932, or 8.1%, to $1,109,682, mainly due to a reduction in derivative liability and notes payable[5]. Strategic Initiatives - The company aims to expand in-network insurance contracts to enhance future revenue growth opportunities[210]. - The company discontinued white-labeled product sales in 2024, contributing to the decrease in retail sales[210].

Financial Performance - Total revenues for the three months ended September 30, 2024, were $647,867, a decrease of 25.4% compared to $869,268 for the same period in 2023[8]. - Operating expenses for the three months ended September 30, 2024, were $1,697,685, an increase of 22.9% from $1,380,865 in the prior year[8]. - Net loss for the three months ended September 30, 2024, was $1,014,147, compared to a net loss of $515,146 for the same period in 2023, representing a 96.8% increase in losses[8]. - Revenues for Q3 2024 were $647,867, a decrease of 25.5% compared to $869,268 in Q3 2023[8]. - Total operating expenses increased to $1,697,685 in Q3 2024, up 23% from $1,380,865 in Q3 2023[8]. - Net loss for Q3 2024 was $1,014,147, compared to a net loss of $515,146 in Q3 2023, representing a 96.8% increase in losses[8]. - The company reported a net loss of $2,616,126 for the nine months ended September 30, 2024, compared to a net loss of $1,292,533 for the same period in 2023, indicating a 102.5% increase in losses[8]. Cash and Liquidity - Cash and cash equivalents increased significantly to $3,642,944 as of September 30, 2024, compared to $525,500 at the end of 2023[6]. - The company completed an initial public offering (IPO) on June 3, 2024, generating total net proceeds of $5,860,650, which is expected to provide adequate liquidity for at least the next 12 months[23]. - The company reported total working capital of $3,215,466 as of September 30, 2024[22]. - The company had cash and cash equivalents of $3,642,944 as of September 30, 2024, compared to $151,245 at the end of the same period in 2023[22]. Assets and Liabilities - Total assets rose to $4,324,162 as of September 30, 2024, up from $1,099,202 at December 31, 2023[6]. - Total liabilities decreased to $840,107 as of September 30, 2024, from $1,207,614 at December 31, 2023[6]. - Current liabilities decreased to $725,867 as of September 30, 2024, from $814,448 as of December 31, 2023[6]. - Total inventories as of September 30, 2024, were $2,750, significantly down from $125,202 as of December 31, 2023[30]. - Total property and equipment, net, as of September 30, 2024, was $183,349, a decrease from $235,292 as of December 31, 2023[31]. - Operating lease liabilities totaled $207,096 as of September 30, 2024, down from $258,991 as of December 31, 2023[33]. Stock and Equity - Stockholders' equity improved to $3,484,055 as of September 30, 2024, compared to a deficit of $(108,412) at the end of 2023[6]. - The company had 5,977,476 common shares issued and outstanding as of September 30, 2024, compared to 4,617,798 as of December 31, 2023[45]. - The company approved a Stock Repurchase Program on October 15, 2024, allowing for the purchase of up to $500,000 worth of its common stock[65]. - The company issued 1,240,910 common shares in connection with a public offering, raising $5,860,650[12]. Compensation and Expenses - The company experienced a significant increase in salaries and wages, totaling $1,138,561 for the three months ended September 30, 2024, compared to $995,078 in the same period of 2023, reflecting a 14.4% increase[8]. - Stock-based compensation for the nine months ended September 30, 2024, was $132,994, a decrease from $719,169 in the same period of 2023[17]. - The company recorded stock-based compensation expenses of $72,508 and $88,008 for the three and nine months ended September 30, 2024, respectively[61]. Operational Activities - The company utilized cash flows in operating activities amounting to $2,172,361 for the nine months ended September 30, 2024[22]. - Cash flows used in operating activities for the nine months ended September 30, 2024, were $2,172,361, significantly higher than $240,806 in the same period of 2023[17]. - The company incurred an operating loss of $2,324,138 for the nine months ended September 30, 2024[22]. Other Income and Reimbursements - The company earned $106,567 in reimbursements from insurance payers during the three months ended September 30, 2024, representing a 16.4% increase compared to $91,553 in the previous quarter[29]. - The company earned $232,842 in reimbursements from insurance payers during the nine months ended September 30, 2024, compared to $0 in the same period of 2023[29]. - Other income for Q3 2024 was $45,330, significantly higher than $9,001 in Q3 2023[8].