FOXO TECHNOLOGIES, INC., PROVIDES UPDATE ON RECENT ACOMPLISHMENTS AND BUSINESS STRATEGY

Core Viewpoint - FOXO Technologies Inc. has undergone significant changes and improvements, positioning itself for a successful turnaround and future growth in 2025 and beyond [1][6]. Financial Performance - The company has transitioned from minimal net revenues to acquiring businesses that could potentially generate over $20 million in profitable net revenues annually with further investment [2]. - As of September 30, 2024, FOXO disclosed a shareholders deficit exceeding$17 million, but has since restructured a substantial amount of debt to equity, resulting in an improvement of over $21 million in shareholders' equity [3]. Business Strategy - For 2025, the company aims to grow its acquired rural hospital and behavioral health businesses while monetizing its epigenetics division [4]. - FOXO is actively seeking additional acquisition opportunities in the healthcare sector, including senior living [4]. Business Operations - FOXO operates three subsidiaries: FOXO Labs, a biotechnology company focused on epigenetic biomarker discovery; Myrtle Recovery Centers, a behavioral health facility; and Rennova Community Health, which operates a critical access hospital [7][8]. - Myrtle Recovery Centers, which opened in August 2023, aims to achieve annual net revenues of approximately$3-4 million and plans to replicate its service model in other locations [6]. Future Outlook - The company is considering options to create shareholder value, including a potential spin-out of its epigenetics business [5]. - FOXO is in preliminary discussions for additional acquisitions that could enhance shareholder value, although no agreements have been finalized [5].