Core Viewpoint - KindlyMD plans to enhance its Bitcoin holdings through a five-year, $250 million secured convertible note deal with Antalpha, marking a strategic partnership between the two Nasdaq-listed companies [1][2]. Group 1: Financial Strategy - KindlyMD aims to utilize the convertible debt for long-term financing with reduced dilution risk for shareholders compared to standard convertible debt, as well as for general corporate purposes [2]. - The proceeds from the financing will be used to replace a previous $203 million Bitcoin-secured credit from Two Prime Lending Limited, although this facility will still be available [5]. Group 2: Market Context - KindlyMD has experienced a significant decline in its stock price, dropping over 77% in the past month to just above $1 per share, the lowest since late 2024 [3]. - Bitcoin has gained traction as a safe-haven asset during the U.S. government shutdown, with many investors viewing it as a protection against potential declines in the U.S. dollar's value [6]. Group 3: Company Position - KindlyMD is currently the 19th largest Bitcoin treasury, holding 5,765 BTC valued at approximately $718 million in the current market [7]. - The company's chair and CEO, David Bailey, emphasized the importance of this partnership in addressing financing needs and laying the groundwork for future initiatives tailored to Bitcoin treasury companies [3].

Core Viewpoint - Enthusiasm for Michael Saylor's strategy and its imitators is waning, leading to significant stock declines for several companies in the past month [1] Group 1: Company Performance - Strategy's stock has decreased approximately 4% over the past month, underperforming bitcoin, which has increased by 3% [2] - Despite recent underperformance, Strategy's stock has surged by 2,800% since it began investing in bitcoin in 2020 [2] - Metaplanet (MTPLF), a Japanese hotel management firm turned bitcoin holding company, experienced a share price drop of over 36% in the last month [3] - Kindly MD (NAKA), a healthcare data provider, saw its shares decline by 87%, while Semler Scientific (SMLR) fell nearly 12% [3] - Trump Media & Technology Group (DJT), which launched a bitcoin treasury, has seen its shares fall by 8% [4] - A vehicle created by Cantor Fitzgerald (CEP) has dropped 17% as it prepares to take public a bitcoin treasury company [4] Group 2: Market Dynamics - The influx of companies attempting to replicate Strategy's model raises concerns about the sustainability of the bitcoin treasury stock boom [5] - Analyst Gus Galá noted that an oversaturation of similar strategies could lead to diminished investor demand [5] - Factors such as a surge in crypto prices, changes in US accounting rules, and a favorable regulatory environment under the Trump administration have fueled interest in companies imitating Strategy's approach [6] - Kevin O'Leary highlighted that many investors prefer holding equities over direct bitcoin investments, despite the availability of bitcoin exchange-traded funds [7]

Core Insights - OneMedNet Corporation is experiencing strong momentum in 2025, with significant achievements in expanding market presence and enhancing its AI-powered Real-World Data platform [1][2] - The company has onboarded five major data marketplaces and surpassed 121 million clinical exams in its network, indicating robust growth and demand for de-identified data [1][4] Company Highlights - **AI-Powered Platform**: OneMedNet's federated iRWD™ platform utilizes cost-effective AI tools for data search, de-identification, and curation across various industries, including healthcare, finance, telecom, and retail [4] - **Expanded Market Reach**: Partnerships with five leading data marketplaces, including Amazon Data Exchange and HealthVerity, enhance the company's position in the healthcare data ecosystem [4] - **Network Growth**: The company has established partnerships with over 1,400 healthcare provider sites, leading to an organic growth of approximately 5% annually in its medical imaging-rich RWD repository [4] - **Amplified Brand Presence**: Increased participation in industry events has resulted in over 130 qualified leads, a threefold increase from previous years, reflecting rising market interest [4] - **Diverse Customer Base**: Leading life sciences organizations license OneMedNet's regulatory-grade datasets for clinical trials and AI model development, showcasing strong market validation [4] - **Regulatory Compliance**: The datasets meet stringent FDA and international standards, facilitating real-world evidence for regulatory submissions and research [4] Industry Opportunity - The demand for Real-World Data (RWD) is increasing as traditional clinical trial models are being disrupted, with regulators encouraging the use of RWE in the approval process [5] - According to McKinsey, generative AI and RWD could unlock between $60 billion to $110 billion in annual value across the pharmaceutical and medical-device sectors, with healthcare data projected to grow at a 36% CAGR through 2030 [6] Business Model - OneMedNet has introduced a subscription-based Data License Agreement (DLA) structure to drive Annual Recurring Revenue (ARR), allowing near real-time data updates and enhancing scalability [7] Strategic Focus - The company's strategy is anchored on three pillars: Platform, Partners, and People, leveraging its AI capabilities, growing network, and experienced leadership to execute its vision [8]

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 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 [ ], 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 ...