HYEX on OTC
HEALTHY EXTRACTS INC.
American medicinal chemicals and botanical products company1
In its 2026 annual report the company says: “We are a platform for acquiring, developing, patenting, marketing, and distributing plant-based nutraceuticals. Our current principal geographic markets are customers in the United States looking for nutraceutical products focused on their own heart and brain health and immune support. Our products have not been evaluated by the U.S. Food and Drug Administration or any similar regulatory body for safety and efficacy.”4 It is headquartered in Henderson, Nevada.1 Its shares trade on OTC under the symbol HYEX.1
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Last updated Oct 20, 2026.
Overview
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- TickerHYEX on OTC1
- IndustryMedicinal Chemicals & Botanical Products1
- HeadquartersHenderson, Nevada1
- Incorporated inNV3
- Business address7375 Commercial Way, Suite 125, Henderson, Nv 890113
- Filer categoryNon-accelerated filer, Smaller reporting company3
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Since our acquisitions of Bergamet and UBN, we have focused on increasing revenue, maintaining our margins, and generating positive cash flow from our existing operations. In part, at least with respect to Bergamet and UBN, we have been successful in meeting these objectives and our business has remained relatively unchanged. In October 2025, we acquired Gummy USA, which accelerated our revenue growth and increased our gross profit.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue46¢$2.1M
- Other costs54¢$2.4M
Out of $4.5M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$165.5K
Out of $165.5K of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $4.5M | $3.1M |
| Net revenue | $4.5M | $3.1M |
| Cost of goods sold | $2.1M | $1.2M |
| Total cost of revenue | $2.1M | $1.2M |
| GROSS PROFIT | $2.4M | $1.9M |
| General and administrative | $3.4M | $2.1M |
| Total operating expenses | $3.4M | $2.1M |
| Interest expense, net of interest income | -$210.3K | -$186.3K |
| Change in fair value on derivative | $273.0K | -$471.3K |
| Total other income (expense) | $62.7K | -$657.5K |
| Net income/(loss) before income tax provision | -$881.1K | -$840.7K |
| NET INCOME/(LOSS) | -$881.1K | -$840.7K |
| Income/(Loss) per share - basic and diluted | -$0.09 | -$0.28 |
| Weighted average number of shares outstanding - basic and diluted | 9.3M shares | 3.0M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 7 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2018-04-30 |
|---|---|---|---|---|---|
| Cash | $146.9K | $112.0K | |||
| Accounts receivable | $187.8K | $11.0K | |||
| Inventory, net | $843.4K | $1.4M | |||
| Deposit | $0 | $16.9K | |||
| Offering costs | $149.3K | $149.3K | |||
| Right of use asset, net | $0 | $9.0K | |||
| Total current assets | $1.3M | $1.7M | |||
| Fixed assets | $4.2M | $3.4K | |||
| Deposit | $99.8K | $0 | |||
| Goodwill | $21.1M | $193.3K | |||
| Patents/Trademarks | $526.6K | $521.9K | |||
| Right of use asset, net - non-current | $513.9K | $0 | |||
| Total other assets | $26.5M | $718.6K | |||
| TOTAL ASSETS | $27.8M | $2.4M | |||
| Accounts payable | $108.5K | $52.2K | |||
| Accrued interest payable | $5.1K | $67.8K | |||
| Accrued interest payable - related party | $76.4K | $31.7K | |||
| Accrued liabilities | $613.6K | $248.6K | |||
| Lease liabilities - current | $171.9K | $9.2K | |||
| Notes payable - related party - current | $601.2K | $399.4K | |||
| Convertible debt, net of discount - current | $111.3K | $530.9K | |||
| Total current liabilities | $1.7M | $1.3M | |||
| Lease liabilities - long-term | $344.3K | $0 | |||
| Notes payable | $1.2M | $2.4K | |||
| Notes payable - related party - non-current | $156.8K | $0 | |||
| Convertible debt, net of discount - non-current | $6.8K | $0 | |||
| Derivative liabilities | $352.4K | $625.4K | $154.2K | ||
| Total non-current liabilities | $2.1M | $627.8K | |||
| Total current and total liabilities | $3.8M | $2.0M | |||
| Preferred stock, $0.001 par value, 75,000,000 shares authorized, none and none shares issued and outstanding, respectively | $0 | $0 | |||
| Common stock, $0.001 par value, 50,000,000 shares authorized, 16,870,868 shares issued and outstanding as of December 31, 2025, and 2,989,406 shares issued and outstanding as of December 31, 2024 | $368.4K | $354.5K | |||
| Additional paid-in capital | $43.8M | $19.3M | |||
| Treasury stock, at cost, 4,166 shares, respectively | -$5.4K | -$5.4K | |||
| Accumulated deficit | -$20.1M | -$19.2M | |||
| Total stockholders' equity | $24.0M | $410.4K | $954.6K | ||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $27.8M | $2.4M | |||
| Preferred Stock, Par or Stated Value Per Share | $0.00 | $0.00 | |||
| Preferred Stock, Shares Authorized | 75.0M shares | 75.0M shares | |||
| Preferred Stock, Shares Issued | 0 shares | 0 shares | |||
| Preferred Stock, Shares Outstanding | 0 shares | 0 shares | |||
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | |||
| Common Stock, Shares Authorized | 50.0M shares | 50.0M shares | 2.5B shares | ||
| Common Stock, Shares, Issued | 16.9M shares | 3.0M shares | |||
| Common Stock, Shares, Outstanding | 16.9M shares | 3.0M shares | |||
| Treasury Stock, Common, Shares | 4.2K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2018-04-30 | 2018-01-31 | 2017-02-28 |
|---|---|---|---|---|---|---|---|
| Cash | $146.9K | $112.0K | |||||
| Accounts receivable | $187.8K | $11.0K | |||||
| Inventory, net | $843.4K | $1.4M | |||||
| Deposit | $0 | $16.9K | |||||
| Offering costs | $149.3K | $149.3K | |||||
| Right of use asset, net | $0 | $9.0K | |||||
| Total current assets | $1.3M | $1.7M | |||||
| Fixed assets | $4.2M | $3.4K | |||||
| Deposit | $99.8K | $0 | |||||
| Goodwill | $21.1M | $193.3K | |||||
| Patents/Trademarks | $526.6K | $521.9K | |||||
| Right of use asset, net - non-current | $513.9K | $0 | |||||
| Total other assets | $26.5M | $718.6K | |||||
| TOTAL ASSETS | $27.8M | $2.4M | |||||
| Accounts payable | $108.5K | $52.2K | |||||
| Accrued interest payable | $5.1K | $67.8K | |||||
| Accrued interest payable - related party | $76.4K | $31.7K | |||||
| Accrued liabilities | $613.6K | $248.6K | |||||
| Lease liabilities - current | $171.9K | $9.2K | |||||
| Notes payable - related party - current | $601.2K | $399.4K | |||||
| Convertible debt, net of discount - current | $111.3K | $530.9K | |||||
| Total current liabilities | $1.7M | $1.3M | |||||
| Lease liabilities - long-term | $344.3K | $0 | |||||
| Notes payable | $1.2M | $2.4K | |||||
| Notes payable - related party - non-current | $156.8K | $0 | |||||
| Convertible debt, net of discount - non-current | $6.8K | $0 | |||||
| Derivative liabilities | $352.4K | $625.4K | $154.2K | ||||
| Total non-current liabilities | $2.1M | $627.8K | |||||
| Total current and total liabilities | $3.8M | $2.0M | |||||
| Preferred stock, $0.001 par value, 75,000,000 shares authorized, none and none shares issued and outstanding, respectively | $0 | $0 | |||||
| Common stock, $0.001 par value, 50,000,000 shares authorized, 16,870,868 shares issued and outstanding as of December 31, 2025, and 2,989,406 shares issued and outstanding as of December 31, 2024 | $368.4K | $354.5K | |||||
| Additional paid-in capital | $43.8M | $19.3M | |||||
| Treasury stock, at cost, 4,166 shares, respectively | -$5.4K | -$5.4K | |||||
| Accumulated deficit | -$20.1M | -$19.2M | |||||
| Total stockholders' equity | $24.0M | $410.4K | $954.6K | ||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $27.8M | $2.4M | |||||
| Preferred Stock, Par or Stated Value Per Share | $0.00 | $0.00 | |||||
| Preferred Stock, Shares Authorized | 75.0M shares | 75.0M shares | 75.0M shares | ||||
| Preferred Stock, Shares Issued | 0 shares | 0 shares | |||||
| Preferred Stock, Shares Outstanding | 0 shares | 0 shares | |||||
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | |||||
| Common Stock, Shares Authorized | 50.0M shares | 50.0M shares | 2.5B shares | 1.0B shares | 500.0M shares | ||
| Common Stock, Shares, Issued | 16.9M shares | 3.0M shares | |||||
| Common Stock, Shares, Outstanding | 16.9M shares | 3.0M shares | |||||
| Treasury Stock, Common, Shares | 4.2K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net (Loss)/Income | -$881.1K | -$840.7K |
| Depreciation and amortization | $152.2K | -$139 |
| Discount expensed from note payable and convertible notes | $39.0K | $36.5K |
| Common stock issued for services | $384.1K | $0 |
| Warrants issued for services | $309.5K | $301.9K |
| Change in fair value on derivative liability | -$273.0K | $471.3K |
| Accounts receivable | -$139.7K | $19.4K |
| Deposit | -$58.4K | $0 |
| Inventory | $546.2K | $265.1K |
| Offering costs | $0 | $2.7K |
| Right of use asset, net | $62.6K | |
| Accounts payable | $24.5K | -$64.6K |
| Accrued liabilities | $3.0K | $33.5K |
| Accrued interest payable | $7.3K | $30.4K |
| Accrued interest payable - related party | $49.8K | $29.2K |
| Lease liability - current | $52.9K | -$56.0K |
| Lease liability - long-term | -$50.9K | -$9.2K |
| Net Cash provided by (used in) Operating Activities | $165.5K | $282.0K |
| Fixed asset purchase | -$19.3K | $0 |
| Acquisition of Gummy USA LLC | $75.6K | $0 |
| Cash flows provided by (used in) Investing Activities | $56.3K | $0 |
| Payments for treasury stock | $0 | -$5.4K |
| Payments for repayment of convertible debt | -$212.8K | -$103.7K |
| Proceeds from issuance of noted payable | $160.0K | $94.0K |
| Payments for repayment of notes payable | -$456.7K | -$489.1K |
| Proceeds from issuance of noted payable - related party | $400.0K | $314.8K |
| Payments for repayment of noted payable - related party | -$77.5K | $0 |
| Net Cash provided by (used in) Financing Activities | -$186.9K | -$189.4K |
| Increase (decrease) in cash | $34.9K | $92.6K |
No quarter-by-quarter statement was filed.
Corporate structure
HEALTHY EXTRACTS INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of HEALTHY EXTRACTS INC.
- Donald William Swanson Filed SCHEDULE 13D on HEALTHY EXTRACTS INC., latest Aug 22, 2025
- HEALTHY EXTRACTS INC. Henderson, Nevada
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What HEALTHY EXTRACTS INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Operating-lease assets (leased space) | $05 Dec 31, 2025 | $9.0K5 Dec 31, 2024 | −100.0% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $21.1M5 Dec 31, 2025 | $193.3K5 Dec 31, 2024 | +10830.3% |
| Finite-lived intangibles, net | $4.2M5 Dec 31, 2025 | $3.4K5 Dec 31, 2024 | +122776.1% |
| Patents, net | $526.6K5 Dec 31, 2025 | $521.9K5 Dec 31, 2024 | +0.9% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $843.4K5 Dec 31, 2025 | $1.4M5 Dec 31, 2024 | −38.0% |
| Raw materials | $534.5K5 Dec 31, 2025 | $1.9M5 Dec 31, 2024 | −72.3% |
| Work in process | $29.6K5 Dec 31, 2025 | $24.0K5 Dec 31, 2024 | +23.5% |
| Finished goods | $369.3K5 Dec 31, 2025 | $186.6K5 Dec 31, 2024 | +97.9% |
Properties, in its own words
We do not currently own, lease or use any office space as we operate on a virtual basis. However, we lease warehouse facilities as follows:
Reference · Address · Description · Start Date · End Date · Amount
The rest of Item 2
Henderson · 7375 Commercial Way, Henderson, NV · 3,632 sq. feet · February 2025 · February 2028 · $6,677
Northgate · 4560 Northgate Court, Sarasota, FL · 6,336 sq. feet · October 1, 2023 · September 30, 2028 · $10,579
Whitfield · 2340 Whitfield Park Ave, Sarasota, FL · 3,000 sq. feet · February 1, 2024 · month-to-month · $4,305
Item 2 of the 10-K filed Apr 9, 2026.4
Leadership
Who has led HEALTHY EXTRACTS INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
- Chief executive officerPatrick Stiles Oct 24, 2017 to Oct 24, 201713
- Chief executive officerFred Covely Jan 19, 2016 to Oct 23, 201714
- PresidentDonald William Swanson Aug 22, 2025 to now15
- PresidentSanjeevkumar Ratanshi Javia Feb 22, 2019 to Feb 22, 201916
- PresidentKevin Pitts Oct 22, 2018 to Jul 8, 202217
- PresidentJoseph Nejman Apr 28, 2017 to May 25, 201718
- PresidentPatrick Stiles Oct 24, 2017 to Oct 24, 201713
- PresidentFred Covely Jan 19, 2016 to Jan 19, 201614
- Chief financial officerRobert Michael Madden Jul 5, 2022 to Jul 5, 202219
- Chief financial officerWilliam C. Bossung Jan 25, 2016 to Oct 23, 201720
Board members and other officers (8)
- Board memberDonald William Swanson Aug 22, 2025 to now15
- Board memberWilliam Russell Croyle Jr. Aug 16, 2022 to Jul 17, 202321
- Board memberSanjeevkumar Ratanshi Javia Feb 22, 2019 to Feb 22, 201916
- Board memberKevin Pitts Oct 22, 2018 to Dec 6, 201817
- Board memberJoseph Nejman Apr 28, 2017 to May 25, 201718
- Board memberPatrick Stiles Oct 24, 2017 to Oct 24, 201713
- Board memberFred Covely Jan 19, 2016 to Oct 23, 201714
- Board memberWilliam C. Bossung Jan 25, 2016 to Oct 23, 201720
Former names
Timeline
- Sep 18, 20268-K Executive or director change22
- Jul 24, 20268-K Entered a material agreement; Unregistered sale of shares23
- Jul 13, 20268-K Executive or director change24
- Jul 6, 20268-K Executive or director change25
- May 18, 20268-K Entered a material agreement; Completed an acquisition or sale; Unregistered sale of shares26
- Oct 2, 20258-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale27
- Sep 23, 20258-K Executive or director change28
- Jul 24, 20258-K Entered a material agreement; Completed an acquisition or sale; Unregistered sale of shares29
- May 10, 20248-K Entered a material agreement; Change of auditor30
- Apr 24, 20248-K Ended a material agreement31
- Dec 29, 20238-K Bylaws or fiscal year changed32
- Nov 8, 20238-K Entered a material agreement33
- Oct 24, 2017New chief executive Patrick Stiles becomes CEO13
- Jan 19, 2016New chief executive Fred Covely becomes CEO14
Filings
70 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 21 major events, 7 insider forms, 1 large holders, 20 other. The latest 20:
- Sep 18, 20268-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- Aug 14, 202610-Q HEALTHY EXTRACTS INC. - FORM 10-Q SEC FILING EDGAR
- Jul 24, 20268-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- Jul 13, 20268-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- Jul 6, 20268-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- May 18, 20268-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- May 14, 202610-Q HEALTHY EXTRACTS INC. - FORM 10-Q SEC FILING EDGAR
- Apr 9, 202610-K HEALTHY EXTRACTS INC. - FORM 10-K SEC FILING EDGAR
- Apr 1, 2026NT 10-K HEALTHY EXTRACTS INC. 12B-25 EDGAR
- Nov 14, 202510-Q HEALTHY EXTRACTS INC. - FORM 10-Q SEC FILING EDGAR
- Oct 2, 20258-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- Sep 23, 20258-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- Aug 22, 2025SCHEDULE 13D EDGAR
- Aug 22, 20254 PRIMARY DOCUMENT EDGAR
- Aug 22, 20253 PRIMARY DOCUMENT EDGAR
- Aug 13, 202510-Q HEALTHY EXTRACTS INC. - FORM 10-Q SEC FILING EDGAR
- Jul 24, 20258-K HEALTHY EXTRACTS INC. - FORM 8-K SEC FILING EDGAR
- May 13, 202510-Q HEALTHY EXTRACTS INC. - FORM 10-Q SEC FILING EDGAR
- Apr 22, 202510-K/A HEALTHY EXTRACTS INC. - FORM 10-K SEC FILING EDGAR
- Apr 1, 202510-K HEALTHY EXTRACTS INC. - FORM 10-K SEC FILING EDGAR
The 70 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 19, 2025 | Swanson Donald WilliamPresident | Buy | 13,075,920 | $23,536,656.00 | $307.8T | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Donald William SwansonSCHEDULE 13D, 1 filing Aug 22, 202534
SEC filer profile
How HEALTHY EXTRACTS INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARHEALTHY EXTRACTS INC.1
- CIK0001630176
- Employer ID (EIN)47-25947044
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inNevada4
- Fiscal year endsDecember 311
- Industry code (SIC)2833 Medicinal Chemicals & Botanical Products1
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
- Business address7375 Commercial Way, Suite 125, Henderson, NV 890111
- Phone702-505-04711
- Shares outstanding14,741,348 as of Aug 14, 20262
- Public float$4.1M as of 4
- AuditorBush & Associates CPA LLC, Las Vegas, Nevada PCAOB ID 67974
- On EDGAR sinceJan 12, 20151
- Filings195 in all: 8-K (45), 10-Q (34), 10-K (11), 4 (11), S-1/A (11), UPLOAD (11), 3 (10), 1-A/A (7)1
All 30 form types
NT 10-Q (7), NT 10-K (5), PRE 14C (5), CORRESP (4), DEF 14C (4), 10-Q/A (3), DEF 14A (3), PRE 14A (3), SC 13G (3), 10-K/A (2), D (2), EFFECT (2), S-1 (2), SC 13D (2), 1-A (1), 424B3 (1), 8-A12G (1), POS AM (1), QUALIF (1), RW (1), S-8 (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (10-K) Apr 9, 2026
Quarterly report (10-Q) Aug 14, 2026
Proxy statement (DEF 14A) Feb 28, 2018
Latest 8-K (8-K) Sep 18, 2026
Risk factors and legal proceedings
The risks HEALTHY EXTRACTS INC. names in Item 1A of its 10-K filed Apr 9, 2026: 41 risks under these headings, as written.4
- We rely on a single supplier relationship for licensing and manufacturing, and the termination of that agreement could have material effect on the cost of our products and the manufacturing of our finished goods.
- We are not profitable, and we do not expect to be profitable in the near future. There is no assurance our future operations will result in revenues sufficient to obtain or sustain profitability. If we cannot generate sufficient revenues to operate profitably, we may suspend or cease operations.
- Our success is linked to the size and growth rate of the vitamin, mineral and supplement market and an adverse change in the size or growth rate of that market could have a material adverse effect on us.
- We are highly dependent upon consumers’ perception of the safety and quality of our products and if we fail to maintain adequate quality standards for our products and services, or if our products become subject to regulatory investigations, our business may be adversely affected and our reputation harmed.
- Our success depends on our ability to maintain the value and reputation of our brands.
- We may fail to attract, acquire or retain customers at our current or anticipated future growth rate, or may fail to do so in a cost-effective manner, which would adversely affect our business, financial condition and results of operations.
- We rely on internet search engines, lead generators, and social networking sites to help drive traffic to our website and the sale of our products, and if we fail to appear prominently in the search results or fail to drive traffic through paid advertising, our traffic and product sales would decline and our business would be adversely affected.
- If we are unable to anticipate customer preferences and successfully develop new and innovative products in a timely manner or effectively manage the introduction of new or enhanced products, then our business may be adversely affected.
- If we are unable to sustain pricing levels for our products, our business could be adversely affected.
- We face intense competition from competitors that are larger, more established and that possess greater resources than we do, and if we are unable to compete effectively, we may be unable to gain sufficient market share to sustain profitability.
- Adverse economic conditions may harm our business.
- Overall tightening of the labor market, increases in labor costs or any possible labor unrest may adversely affect our business and results of operations.
The other 29 risks
- Our operating results could be adversely affected if we are unable to accurately forecast customer demand for our products and services and adequately manage our inventory.
- We acquire ingredients for our products from foreign suppliers and may be negatively affected by the risks associated with international trade and importation issues.
- Ingredient and packaging costs are volatile and may rise significantly, which may negatively impact the profitability of our business.
- A disruption in the service, a significant increase in the cost of our primary delivery and shipping services for our products or a significant disruption at shipping ports could adversely affect our business.
- We will require additional financing in the future, and we can provide no assurance that such funding will be available on terms that are acceptable to us, or at all.
- Our competitors may develop nutritional supplement products that are less expensive, safer or otherwise more appealing, which may diminish or eliminate the commercial success of any potential product that we may commercialize.
- Our auditors have substantial doubt about our ability to continue as a going concern.
- One of our shareholders owns a significant percentage of our Common Stock and has the ability to substantially influence all matters submitted to stockholders for approval.
- Our current officers and directors may set salaries and perquisites in the future which we are unable to support with our current assets.
- We may engage in strategic transactions that fail to enhance stockholder value.
- We may not be able to gain or sustain market acceptance for our products and services.
- We have a significant amount of unsold inventory, which could affect our assets and our profitability.
- We are subject to and affected by extensive governmental regulations.
- We received a warning letter from the FDA in November 2022 regarding one of our products.
- Economic uncertainties or downturns could materially adversely affect our business.
- We are dependent on the services of key personnel and failure to attract qualified management could limit our growth and negatively impact our results of operations.
- Other companies may claim that we have infringed upon their intellectual property or proprietary rights.
- As a part of our business strategy, we have made and expect to continue to make acquisitions. These acquisitions could disrupt our operations and harm our operating results.
- Our success depends on our ability to protect our proprietary technology.
- Our future growth may be inhibited by the failure to implement new technologies.
- Our common stock is governed under The Securities Enforcement and Penny Stock Reform Act of 1990.
- The market prices and trading volume of our shares of Common Stock may experience rapid and substantial price volatility, which could cause purchasers of our Common Stock to incur substantial losses.
- A significant portion of our total outstanding shares of Common Stock are restricted from immediate resale but may be sold into the market in the near future, which could cause the market price of our Common Stock to drop significantly, even if our business is performing well.
- If securities analysts do not publish research or reports about our business or if they publish negative evaluations of our Common Stock, the price of our Common Stock could decline.
- An active trading market for our Common Stock may not develop and you may not be able to resell your shares at or above the public offering price.
- We have broad discretion in the use of our cash, and may not use it effectively.
- Raising additional capital will likely cause dilution to our existing stockholders and restrict our operations.
- We will incur increased costs as a result of operating as a smaller reporting public company, and our management will be required to devote substantial time to new compliance initiatives.
- Because we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, capital appreciation, if any, will be your sole source of gain.
Legal proceedings
None of our officers or directors has, in the past ten years, filed bankruptcy, been convicted in a criminal proceeding or named in a pending criminal proceeding, been the subject of any order, judgment, or decree of any court permanently or temporarily enjoining him or her from any securities activities, or any other disclosable event required by Item 401(f) of Regulation S-K.
On November 14, 2022, BergaMet NA, LLC, our subsidiary, received a warning letter from the FDA regarding claims we allegedly make about our Cholesterol Command product. Specifically, the warning letter related to claims on our website, Facebook page, and the webpage of a retailer claim that the products are intended for use in the cure, mitigation, treatment, or prevention of disease because they reduce cholesterol or are an anti-inflammatory. On December 1, 2022, we responded to the warning letter notifying the FDA that we had hired a third-party to review our advertising and revise portions of our website, Facebook page, and online product listings. This was the only warning letter we received from the FDA to date.
Other than as set forth above, we are not a party to or otherwise involved in any legal proceedings.
In the ordinary course of business, we are from time to time involved in various pending or threatened legal actions. The litigation process is inherently uncertain and it is possible that the resolution of such matters might have a material adverse effect upon our financial condition and/or results of operations. However, in the opinion of our management, other than as set forth herein, matters currently pending or threatened against us are not expected to have a material adverse effect on our financial position or results of operations.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 14SEC EDGARFred Covely, Chief executive officer
- 15SEC EDGARDonald William Swanson, President
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- 17SEC EDGARKevin Pitts, President
- 18SEC EDGARJoseph Nejman, President
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- 22SEC EDGARExecutive or director change
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- 24SEC EDGARExecutive or director change
- 25SEC EDGARExecutive or director change
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- 28SEC EDGARExecutive or director change
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- 31SEC EDGAREnded a material agreement
- 32SEC EDGARBylaws or fiscal year changed
- 33SEC EDGAREntered a material agreement
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