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MedWellAI, Inc.

MWAI
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Business Summary

MedWellAI, Inc. operates in a highly competitive environment across the wellness and compounded pharmaceutical sectors, where the broader wellness industry represents a large consumer and clinic economy while compounded pharmaceuticals constitute a smaller but strategically significant segment in the United States . The company's operations compete primarily within the compounded pharmaceutical space, focusing on weight management, hormone therapies, peptides, and personalized care solutions . The company's e-commerce platform connects in-office buyers with multiple FDA-registered 503B pharmacies, offering GLP-1 weight management therapies, peptides and other compounds . The platform provides access to multiple 503B outsourcing facilities, over 100 products, personalized pricing, direct payment deposits, custom domain options, and onboarding support , enabling procurement agents and resellers to market products to licensed healthcare providers, wellness spas and telemedicine companies in a 100% automated, cost-effective, efficient, compliant and profitable manner without requiring any infrastructure investment .

Business Outlook

Management has not provided specific quantitative revenue, margin, or EPS guidance for the upcoming period. The company anticipates that it will seek to fund its operations through public or private equity or debt financings or other sources, such as potential collaboration agreements . The amount and timing of future funding requirements will depend on many factors, including the timing and results of ongoing operations, and potential new development and administrative support expenses . The company's ability to operate profitably is dependent upon, among other things, obtaining additional financing for its operations . These factors raise substantial doubt about the company's ability to continue as a going concern .

Risk Factors

MedWellAI faces material risks specific to its business model and financial condition. The company has incurred losses since inception and has a going-concern qualification from its auditors, with current liabilities exceeding current assets by $7,847,263 and an accumulated deficit of $90,263,345 as of June 30, 2026. Changes in FDA regulation of compounded pharmaceuticals could adversely affect the supply of GLP-1 medications, as the agency proposed excluding semaglutide, tirzepatide, and liraglutide from the 503B Bulks List in April 2026 , which could materially limit the supply of products distributed. The company's commission revenues decreased to $437,857 in fiscal 2026 from $576,931 in fiscal 2025 due to regulatory hurdles. The company depends heavily on its chief executive officer, Steve Rubakh, whose departure could harm the business . Additionally, the company's common stock is deemed to be 'penny stock' , which may make it more difficult for investors to sell their shares.

Management Priorities

Management's message to shareholders emphasizes the company's strategic shift from digital asset mining to the health and wellness industry, with a focus on earning commissions through a fully automated e-commerce platform connecting in-office buyers with multiple FDA-registered 503B pharmacies . The company has incurred losses since its organization and is subject to the risks common to start-up, pre-revenue enterprises, including undercapitalization, cash shortages, limitations with respect to personnel, financial and other resources and lack of revenues . Management has identified the need to raise additional capital to continue to operate, complete and successfully operate its business and to fund future operations . The company's strategic priorities include expanding its e-commerce platform, which enables procurement agents and resellers to market products to licensed healthcare providers, wellness spas and telemedicine companies , and addressing regulatory hurdles that have impacted its commission revenues .

View Source Annual Report on SEC.gov ↗

References

  1. [1] Item 1, Business — Competition
  2. [2] Item 1, Business — Competition
  3. [3] Item 1, Business
  4. [4] Item 1, Business
  5. [5] Item 1, Business
  6. [6] Item 7, MD&A — Additional Capital Requirements
  7. [7] Item 7, MD&A — Additional Capital Requirements
  8. [8] Item 1A, Risk Factors
  9. [9] Item 1A, Risk Factors
  10. [10] Item 7, MD&A — Going Concern
  11. [11] Item 7, MD&A — Going Concern
  12. [12] Item 1A, Risk Factors
  13. [13] Item 7, MD&A — Results of Operations
  14. [14] Item 7, MD&A — Results of Operations
  15. [15] Item 1A, Risk Factors
  16. [16] Item 1A, Risk Factors
  17. [17] Item 1, Business
  18. [18] Item 1A, Risk Factors
  19. [19] Item 7, MD&A — Additional Capital Requirements
  20. [20] Item 1, Business
  21. [21] Item 7, MD&A — Results of Operations
  22. [22] Item 8, Consolidated Statements of Operations
  23. [23] Item 8, Consolidated Statements of Operations
  24. [24] Item 8, Consolidated Statements of Operations
  25. [25] Item 8, Consolidated Statements of Operations
  26. [26] Item 8, Consolidated Statements of Operations
  27. [27] Item 8, Consolidated Statements of Operations
  28. [28] Item 8, Consolidated Statements of Operations
  29. [29] Item 8, Consolidated Statements of Operations
  30. [30] Item 8, Consolidated Statements of Operations
  31. [31] Item 8, Consolidated Statements of Operations
  32. [32] Item 8, Consolidated Statements of Operations
  33. [33] Item 8, Consolidated Statements of Operations
  34. [34] Item 7, MD&A — Liquidity and Capital Resources
  35. [35] Item 7, MD&A — Liquidity and Capital Resources
  36. [36] Item 8, Consolidated Balance Sheets
  37. [37] Item 8, Consolidated Balance Sheets
  38. [38] Item 8, Consolidated Balance Sheets

Analysis on 10/13/2026