Financial Data and Key Metrics Changes - The company has used approximately $5.9 million for the first three quarters of the year and expects significant revenue in the fourth quarter to offset operating expenses [30][31] - The company aims to cover operating expenses through financings and anticipates a good fourth quarter [31][32] - The market value of the company's equity holdings in Pollex Bio and Buda Juice is expected to provide substantial upside for shareholders [31][32] Business Line Data and Key Metrics Changes - The company is focused on launching three to five companies per year to build a public venture portfolio, which is a shift from the historical rate of one company every 18 months [9][24] - The company has a deep pipeline of opportunities and believes that future launches will have a better probability of success than past ones [24][27] Market Data and Key Metrics Changes - The microcap market has been challenging, but the company believes that transparency and liquidity in public markets will become attractive again [28][30] - There is a growing demand for small public companies with revenue and earnings, as many are moving towards private equity routes [29][30] Company Strategy and Development Direction - The company aims to create a sustainable operational framework to support the launch of public venture companies and believes it has a unique position in the market [16][39] - The strategy includes curating and positioning companies for success in the public markets, focusing on those with significant growth potential [10][15] - The company is also exploring the potential of a spinout in the patent law sector, which could provide substantial value [34][64] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current challenges in the microcap market but remains optimistic about future opportunities and the potential for public venture to thrive [28][30] - The company is committed to improving communication with shareholders and addressing concerns about stock performance [68][70] Other Important Information - The company has a unique model that combines operational support with equity positions in the companies it helps launch, which differentiates it from traditional underwriters and VCs [21][39] - The company is actively working on building its community to support its ventures and enhance its operational capabilities [25][26] Q&A Session Summary Question: When can shareholders expect to see a dividend? - The company prefers to wait until there is a developed market for the stock and broader ownership before considering dividends [42] Question: How will MDB handle ownership percentages during fundraising for Exazyme? - Shareholders can expect dilution as companies raise more capital, but efforts will be made to minimize this [43] Question: What is the outlook for Heartbeat regarding FDA approval? - The company is optimistic about FDA approval and believes it will facilitate future fundraising efforts [46] Question: Why is the stock trading at a low price compared to the IPO? - The poor performance of the microcap market and concerns about the company's ability to select successful ventures are contributing factors [48] Question: What makes the cost of being public more favorable for listings? - Companies that are profitable and growing in the microcap sector are trading at attractive valuations, making public listings more appealing [50][51] Question: Can you clarify the PatentVest spinout and its potential? - The spinout is expected to have substantial market value due to the disruption AI will bring to the legal sector, particularly in patent law [63][66]

Financial Data and Key Metrics Changes - The company has used approximately $5.9 million for operating expenses in the first three quarters of 2025, with expectations of significant revenue in the fourth quarter to offset these expenses [30][31] - The company anticipates a good fourth quarter, which will help cover operating expenses through the number of financings being conducted [31][32] - The market value of the company's equity holdings in Pollex Bio and Buddha Juice is expected to provide substantial upside for shareholders [31][32] Business Line Data and Key Metrics Changes - The company aims to scale its operations to launch three to five companies per year, moving from a historical average of one launch every 18 months [9][23] - The company has a deep pipeline of opportunities and believes that future launches will have a better probability of success than historical ones [23][24] Market Data and Key Metrics Changes - The microcap market has been challenging, but there is optimism that transparency and liquidity in public markets will become attractive again [28][29] - The company is seeing a resurgence in demand for small public companies, as many are moving away from private equity and venture capital routes [29][51] Company Strategy and Development Direction - The company is focused on building a unique public venture platform that supports the launch of public companies, emphasizing the importance of operational bandwidth and community involvement [9][15] - The strategy includes curating high-potential companies and transforming them into investable public entities, with a focus on both deep tech and consumer products like Buddha Juice [12][58] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current market challenges but remains optimistic about the future of public venture, believing that the company is well-positioned to capitalize on upcoming opportunities [28][39] - The management is committed to improving communication with shareholders and addressing concerns about the company's stock performance [68][70] Other Important Information - The company is exploring the potential of a spinout involving PatentVest, which is expected to disrupt the patent law sector significantly [34][63] - The company is also working on enhancing its investor relations efforts to better communicate its value proposition and portfolio performance [68][70] Q&A Session Summary Question: When can shareholders expect to see a dividend? - The management's philosophy is to distribute dividends when the company has a developed market and broader ownership, avoiding any hindrance to company development [41] Question: How will MDB handle dilution during fundraising for Exazyme? - Shareholders can expect dilution as companies raise more capital, but efforts will be made to minimize this dilution [42] Question: What is MDB's role regarding Heartbeat and its FDA approval? - The management emphasizes the importance of FDA approval for Heartbeat, which will facilitate future fundraising efforts [45] Question: Why is the stock trading at a low price compared to its IPO? - The management attributes the low stock price to a poor microcap market, concerns about the company's ability to select successful ventures, and year-end tax selling [46][47] Question: What makes the cost of being public more favorable for listings? - The management believes that profitable microcap companies are trading at attractive valuations, making it sensible for them to go public [49][51] Question: How does MDB differentiate between deep tech and consumer products like Buddha Juice? - The management clarifies that both categories are viable, with a focus on launching category leaders that have a competitive edge [57][58]

Financial Data and Key Metrics Changes - The company reported no financings completed in Q2 2025, leading to limited revenue generation, primarily from Pat Invest as operations scale [5][6] - Cash utilization for the first six months of 2025 was $3.4 million, with expectations to close financings in February 2025 to reduce or eliminate cash usage [7] Business Line Data and Key Metrics Changes - The company is focusing on incubating more companies to offset operating expenses with financings, balancing equity generation and fee income [6] - The current revenue from launching more developed companies is intended to cover cash operations [6] Market Data and Key Metrics Changes - The company noted a significant investor hesitation towards deep tech and life science investments, which have been underperforming in the market [9][10] - There is a growing interest in profitable, early-stage companies with revenue momentum, which are highly valued in the current market [13] Company Strategy and Development Direction - The company aims to expand its product mix to include profitable companies with revenue momentum, moving beyond just life sciences [14] - A new prospectus was filed for a profitable beverage company, Buddha Juice, indicating a shift towards diverse investment opportunities [15][16] - The company is also focusing on metabolic health as a significant opportunity, particularly with GLP-1 drugs, which represent a large market potential [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the public venture model, highlighting a shift away from private equity and traditional venture capital [17][18] - The company is preparing to spin off PatentVest as an independent public company, which is expected to create additional value for shareholders [50][51] Other Important Information - The company is actively expanding its investor community and has formed a partnership with Koretsu, one of the largest angel groups, to facilitate more deals [31][36] - The emergence of AI is seen as a transformative factor in IP law, which the company is leveraging through its law firm, PatentVest [48][49] Q&A Session Summary Question: Are there vulture opportunities in your core life science market? - Management acknowledged that tough market conditions often lead to better opportunities, with current valuations being reasonable for potential investments [65][66] Question: What's the plan to increase volume and liquidity for portfolio companies? - The focus is on having a correct narrative and adjusting business models to reflect the current environment, with an emphasis on near-term inflection points [71][72] Question: What is the plan for the holding company's assets and potential distributions? - The company plans to distribute equity as much as possible, with a focus on timing distributions around positive news for portfolio companies [83][86]

Financial Performance and Strategy - MDB's goal is to offset operating expenses with financings, viewing equity in financed companies as upside for shareholders[8] - Net cash use in operational activities was approximately $3.4 million for the first half of 2025[8] - MDB expects to close financings in the second half of 2025 to reduce or eliminate cash usage[8] Market Opportunity and Product Mix - Investors are currently hesitant toward deep tech life science investments[11] - MDB is expanding its product mix to include profitable, growing early-stage companies with asymmetrical return potential and public market liquidity[12, 16] - The company's next IPO is Buda Juice, a profitable and rapidly growing private fresh juice company in an $8.7 billion market[17] - MDB believes the public market is shifting away from private equity and traditional venture capital toward public venture[18] Metabolic Health and Potential - Obesity and diabetes therapies are expected to be a market worth hundreds of billions of revenue[21] - The number of adults with Type 2 diabetes (T2D) is projected to reach 784 million by 2045[21] Investor Community and Distribution - MDB is expanding its investor community with angel groups and RIAs[24] - Keiretsu Forum MST partnership drives a new IPO Angels platform, facilitating over $39 million in direct member investments over the past three years[25, 27] PatentVest Spin-Out - MDB is planning to spin-out PatentVest as its own public company in 2026[31]

Company Overview and Strategy - MDB Capital aims to transform deep technology "Big Ideas" into valuable public companies[6] - The company's goal is to enable investors to create a portfolio of 10–12 MDB curated venture-stage companies over time[7] - MDB's platform helps stand up and launch deep tech new category leaders[10] Pipeline and Due Diligence - In 2024, MDB screened 8,964 private and public companies and further examined 219 to identify deep tech ideas[21] - The number of private companies reviewed increased by 107% from 3,391 in 2023 to 7,025 in 2024[22] - The number of public companies under surveillance increased by 35% from 1,432 in 2023 to 1,939 in 2024[22] - Companies further examined increased by 366% from 47 in 2023 to 219 in 2024[22] Financial Performance and Investments - MDB's direct assets increased significantly by 2,092% from $2,016,959 in 2023 to $44,215,968 in 2024[22] - The company completed an IPO for Invizyne Technologies (now eXoZymes Inc (EXOZ)) in November 2024, raising $15 million[21,40] - MDB's initial investment of $5.9 million in eXoZymes translated into a $150 million market cap company[40] - MDB owns 47% of eXoZymes' outstanding stock[40] Market Positioning and Future Outlook - MDB is well-positioned for 2025 due to a significant increase in micro-cap deal opportunities and a growing demand for micro-cap financing[29,34] - Venture Capital fundraising declined by nearly 58% in 2023 and by 23-25% in 2024[31]