Financial Performance - Total revenues for Q1 2024 were $829,029, a decrease of 28.5% compared to $1,160,345 in Q1 2023[8] - Net loss for Q1 2024 was $282,326, compared to a net loss of $180,979 in Q1 2023, representing a 56.0% increase in losses[8] - Loss per common share for Q1 2024 was $0.06, compared to $0.04 in Q1 2023[8] - Revenues decreased by $331,316, or 28.6%, to $829,029 for the three months ended March 31, 2024, compared to $1,160,345 for the same period in 2023[59] - Net loss was $282,326 for the three months ended March 31, 2024, compared to $180,979 for the same period in 2023, representing a net loss increase of 56.0%[64] Operating Expenses - Operating expenses for Q1 2024 totaled $1,066,156, a decrease of 21.9% from $1,365,550 in Q1 2023[8] - Operating expenses decreased by $299,394, or 21.9%, to $1,066,156 for the three months ended March 31, 2024, from $1,365,550 for the same period in 2023[61] - Total operating expenses as a percentage of revenues increased to 128.6% for the three months ended March 31, 2024, compared to 117.7% for the same period in 2023[58] - Salaries and wages decreased by $225,335, or 24.1%, to $707,966 for the three months ended March 31, 2024, due to reduced need for employee and contract labor[61] - General and administrative expenses decreased by $32,638, or 9.1%, to $325,545 for the three months ended March 31, 2024, attributed to lower marketing and advertising spending[61] - Cost of revenues decreased by $40,880, or 84.1%, to $7,744 for the three months ended March 31, 2024, due to a decline in product revenues[61] Cash and Assets - Cash and cash equivalents decreased to $287,383 as of March 31, 2024, down 45.2% from $525,500 as of December 31, 2023[7] - Total current assets decreased to $356,019 as of March 31, 2024, down 42.3% from $616,928 as of December 31, 2023[7] - The company reported a total working capital deficit of $505,419 as of March 31, 2024[15] - Cash and cash equivalents as of March 31, 2024, were $287,383, down from $525,500 as of December 31, 2023, reflecting a decrease of $238,117, or 45.3%[69] - Total inventories, net, as of March 31, 2024, were $55,872, down from $63,202 at December 31, 2023[19] Liabilities and Equity - Total liabilities decreased to $1,182,437 as of March 31, 2024, down 2.1% from $1,207,614 as of December 31, 2023[7] - Total stockholders' deficit increased to $383,122 as of March 31, 2024, compared to $108,412 as of December 31, 2023[7] - The accumulated deficit increased to $(4,440,380) as of March 31, 2024, compared to $(4,158,054) at December 31, 2023[9] - The company reported a weighted-average number of shares outstanding of 4,617,798 for Q1 2024, compared to 4,434,596 for Q1 2023, an increase of 4.1%[8] Initial Public Offering (IPO) - The company completed an initial public offering (IPO) on June 3, 2024, raising total net proceeds of $6.02 million[16] - The IPO completed on June 3, 2024, resulted in gross proceeds of approximately $6.8 million and net proceeds of approximately $6.0 million after deducting expenses[56] - The company repaid all outstanding 10% OID promissory notes totaling $463,534 and issued 80,808 shares of restricted common stock at the IPO price of $5.50 per share[40] Insurance and Revenue Sources - Patient care services revenue for the three months ended March 31, 2024, was $785,843, down from $1,067,955 in 2023, representing a decline of 26.4%[18] - The company recognized $34,722 in reimbursements from insurance payers during the three months ended March 31, 2024, compared to $0 in the same period of 2023[18] - The company is shifting to insurance billing with commercial and governmental payers, impacting cash-pay patient care services[59] Strategic Initiatives - The company aims to reduce opioid use through an integrated model of prescriber and therapist teams, focusing on evidence-based behavioral therapy and non-opioid alternatives[45] - The company has established a medical advisory committee to evaluate the efficacy of care programs and set impact goals against national benchmarks[49] - The company is actively involved in the Biden-Harris opioid initiative, emphasizing decreased overprescribing and improved access to addiction treatment[48] Other Financial Metrics - Interest expense was $57,239 for the three months ended March 31, 2024, primarily due to accrued interest and amortization of debt discounts[63] - Other income decreased by $12,186, or 50.3%, to $12,040 for the three months ended March 31, 2024, from $24,226 for the same period in 2023[62] - The company incurred cash flows used in operating activities of $213,439 for the three months ended March 31, 2024, compared to cash flows provided by operating activities of $167,100 for the same period in 2023[69]

As filed with the Securities and Exchange Commission on May 8, 2024. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 9 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Utah 8049 84-3829824 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) 5097 South ...

As filed with the Securities and Exchange Commission on April 9, 2024. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 8 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Utah 8049 84-3829824 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) 5097 Sou ...

As filed with the Securities and Exchange Commission on March 12, 2024. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 7 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Utah 8049 84-3829824 (I.R.S. Employer Identification No.) 5097 So ...

As filed with the Securities and Exchange Commission on December 7, 2023. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 6 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) If this Form is a post-eff ...

As filed with the Securities and Exchange Commission on November 27, 2023. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 5 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Utah 8049 84-3829824 (I.R.S. Employer Identification No.) 5097 ...

As filed with the Securities and Exchange Commission on November 20, 2023. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 4 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Utah 8049 84-3829824 (I.R.S. Employer Identification No.) 5097 ...

As filed with the Securities and Exchange Commission on November 6, 2023. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 3 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Utah 8049 84-3829824 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification No.) 5097 ...

As filed with the Securities and Exchange Commission on [ ], 2023. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 2 to FORM S-1 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Utah 8049 84-3829824 (I.R.S. Employer Identification No.) REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 5097 South 900 East Suite 100 Salt Lake City, UT 84117 KINDLY MD, INC. (Exact name ...

As filed with the Securities and Exchange Commission on [ ], 2023. Registration No. 333-274606 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KINDLY MD, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Utah 8049 84-3829824 (I.R.S. Employer Identification No.) 5097 South 9 ...