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Stimcell Energetics Inc.

STME
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Business Summary

Stimcell Energetics Inc. is a biotech company focused on the discovery, development and commercialization of therapeutic and non-therapeutic products that enhance cellular function, promote general wellness and alleviate health complications, including, but not limited to: aging, insulin sensitivity, high blood pressure, neuropathy and kidney function. The Company’s primary focus is on continued research and development of its eBalance® Technology and its eBalance® Home System. The market for treatments that assist in the control and management of diabetes, its complications, as well as other ailments, including pain management, is highly competitive. According to information published by the International Diabetes Federation in its IDF Diabetes Atlas Tenth Edition (2021), in 2021, approximately 537 million adults (20-79 years) were living with diabetes; by 2045 this will rise to 783 million, and a further 541 million people are at an increased risk of developing Type 2 diabetes.

The Company operates in a highly competitive market, facing competition from large, well established medical device manufacturers and pharmaceutical companies in the market for treatment of pain and management of diabetes and related ailments. The Company competes indirectly with pharmaceutical and medical device companies, such as Bayer Corp., Becton Dickinson Corp., LifeScan Inc., a division of Johnson & Johnson, the MediSense Inc., and TheraSense Inc. Since the Company’s eBalance® Pro and eBalance® Home Systems are based on microcurrent therapy, which is not yet widely accepted in traditional medicine, direct competition for these Systems is not well defined. The Company’s eBalance® Technology is not patented, but the Company holds registered trademarks for EBALANCE in Canada, the European Union, the U.K., and the United States.

The Company generates revenue through the sale of its eBalance® medical device systems, specifically the eBalance® Pro System for healthcare professionals in a clinical setting and the eBalance® Home System for patients to manage their symptoms at home. The Company also previously generated monthly recurring revenue from the online sales of eBalance® treatment packages, but suspended all revenue-generating activities associated with sales of eBalance® Home and Pro Systems following the cancellation of its Health Canada Class II Medical Device Licenses. During the years ended May 31, 2026 and 2025, the Company did not generate any revenue.

The eBalance® Technology is based on the science of bioelectric signals, their effect on epigenetic events within the human body, and ability to modify and affect the behavior of cells, tissues, and organs. The eBalance® Technology utilizes microcurrent electrical therapy to deliver subsensory micro amperage current to the patient/user to support general wellness or provide temporary relief of pain. The eBalance® Pro System is designed for Professional Use by Healthcare practitioners in a clinical setting, with treatments administered using Hand Bars, Foot Plates, and/or Pen Probes. The eBalance® Home System is for Home Use and will be available without a prescription, with treatments administered using Hand Bars and Foot Plates and controlled by the eBalance® Console. Both systems are intended to be used for temporary relief of pain associated with sore-aching muscles in the shoulder, waist, back, neck, upper and lower extremities (arms and legs) due to strain from exercise or normal household work activities and general activities of daily living.

In February 2025, the Company established a new partnership with ADM Tronics Unlimited, Inc., a leader in electronic medical device engineering, to redesign the eBalance® Home device into a compact, affordable consumer unit optimized for home use, complete with diagnostic features. The new eBalance® Home system is expected to be redesigned as a smaller and more cost-efficient unit than its predecessor, making advanced microcurrent technology accessible to a broader audience. Additionally, it will feature innovative diagnostics, including a real-time assessment of cellular energy capacity, treatment tracking, and personalized user profiles. The wellness designation of the new device will negate the process of seeking approval for a medical device from the FDA and speed up the time required to reach market and lower the cost. This new streamlined unit is expected to be completed in the fall of 2025 and ready for market in early 2026. On December 1, 2025, the Company entered into a service agreement to conduct a study examining the effects of the eBalance® microcurrent device, which was expected to last three months and cost approximately $27,100.

During the year ended May 31, 2026, the Company issued 750,000 shares valued at $250,000 under an agreement with an investor relations and public relations firm, and on March 19, 2026, issued 250,000 shares valued at $75,025 under an advisory services agreement with Stonegate Capital Partners, Inc. The Company also borrowed $200,000 from Mr. Richard Jeffs and $100,582 from Mrs. Susan Jeffs during the year. On July 16, 2026, subsequent to fiscal year end, the Company amended the terms of its unsecured line of credit agreement with Mr. Richard Jeffs, increasing the borrowing limit from $200,000 to $350,000, and borrowed an additional $50,000 under this line of credit, with Mr. Jeffs also advancing CAD$85,000 under the existing CAD$100,000 line of credit.

The Company’s net loss for the year ended May 31, 2026 was $895,375, compared to a net loss of $566,293 for the year ended May 31, 2025, an increase of 58.1%. Total operating expenses increased by 58.2% from $522,106 to $826,027. The Company had a cash balance of $3,057, a working capital deficit of $1,811,320, and cash flows used in operations of $312,081 for the year then ended. As of May 31, 2026, the Company had accumulated a deficit of $11,756,931 since inception.

Business Outlook

Management expects elevated research and development expenditures to continue in the near term as development progresses on the redesign of the eBalance® Home device with ADM Tronics Unlimited, Inc. The project is expected to span approximately nine months, and management is planning to support its operations as well as redesign of the eBalance® microcurrent device through equity or debt financing.

The Company’s primary growth vector is the redesign of the eBalance® Home device into a compact, affordable consumer unit optimized for home use, complete with diagnostic features, in partnership with ADM Tronics Unlimited, Inc. The new eBalance® Home system is expected to be a smaller and more cost-efficient unit than its predecessor, making advanced microcurrent technology accessible to a broader audience. The wellness designation of the new device will negate the process of seeking approval for a medical device from the FDA and speed up the time required to reach market and lower the cost. This new streamlined unit is expected to be completed in the fall of 2025 and ready for market in early 2026.

The Company was considering developing more specialized software/treatment options to target other ailments such as gout, hypertension, heart disease, neurological disorders, and depression, among others, to capture a larger market share. However, the Company’s lack of funding and unfavorable financial position made it impossible to roll out such expansion, and management felt it necessary to stop all further research and development of eBalance® Technology until the Company is financially stable and has secured substantial financing to support its day-to-day operations and further research opportunities.

The Company’s research and development costs increased by 226.8% from $64,009 during the year ended May 31, 2025, to $209,176 during the year ended May 31, 2026, driven by the engagement of ADM Tronics Unlimited, Inc. to redesign the eBalance® Home device. Management expects elevated research and development expenditures to continue in the near term as development progresses.

The Company’s operations are funded through debt and equity financing, with no revenue generated during the years ended May 31, 2026 and 2025. During the year ended May 31, 2026, the Company funded its operations with $300,582 borrowed from its related parties at 10% annual interest compounded monthly and due on demand. The Company’s ability to continue operations is dependent on its ability to obtain additional financing and ultimately achieve profitable operations.

The Company does not have any share purchase options issued and exercisable as at May 31, 2026 and 2025. All warrants expired unexercised on March 12, 2026. The Company has not paid any cash dividends on its common stock since its inception and does not anticipate paying any cash dividends in the foreseeable future, planning to retain its earnings, if any, to provide funds for the expansion of its business.

The Company faces significant headwinds including a working capital deficiency of $1,811,320 as of May 31, 2026, and an accumulated deficit of $11,756,931 since inception. The Company must obtain additional capital, or its business will fail. The Company does not have immediate sources of financing, and there is no assurance that the Company will be able to generate sufficient cash from operations to repay the amounts owing under the outstanding notes and advances payable, or to service other debt obligations.

The Company is subject to numerous governmental regulations which can increase its costs of developing the eBalance® Technology and products based on this technology. The Company’s products are subject to rigorous regulation by the FDA, Health Canada and numerous international, supranational, federal, and state authorities. The process of obtaining regulatory approvals to market a medical device can be costly and time-consuming, and approvals may not be granted for future products, or additional indications or uses of existing products, on a timely basis, if at all.

Risk Factors

The Company has a working capital deficiency of $1,811,320 as of May 31, 2026, and an accumulated deficit of $11,756,931 since inception, raising substantial doubt about its ability to continue as a going concern. The Company must obtain additional capital, or its business will fail, and it does not have immediate sources of financing. As of May 31, 2026, the Company had approximately $1,498,798 in amounts due to related parties and notes payable, and if unable to repay these amounts when due, it may be required to settle the debt through the issuance of Common Shares, which would result in dilution to existing shareholders. The Company has previously settled related party debt through the issuance of Common Shares, including the conversion of $1,622,693 in outstanding debt into 15,454,221 Common Shares in December 2023. The Company’s products are subject to rigorous regulation by the FDA, Health Canada and numerous international, supranational, federal, and state authorities, and the process of obtaining regulatory approvals to market a medical device can be costly and time-consuming, and approvals may not be granted for future products, or additional indications or uses of existing products, on a timely basis, if at all. The Company’s eBalance® Technology is not patented, and an inability to defend, protect and enforce its intellectual property rights could adversely affect the financial results. The Company operates in a highly competitive market and faces competition from large, well established medical device manufacturers and pharmaceutical companies, many of which are very well accepted by health practitioners and have significant resources, and the Company may not be able to compete effectively.

Management Priorities

Management’s message emphasizes the Company’s focus on the discovery, development and commercialization of therapeutic and non-therapeutic products that enhance cellular function, promote general wellness and alleviate health complications. The Company’s primary focus is on continued research and development of its eBalance® Technology and its eBalance® Home System. Management highlights the engagement of ADM Tronics Unlimited, Inc. in February 2025 to redesign the eBalance® Home device into a compact, affordable consumer unit optimized for home use, complete with diagnostic features, with the project expected to span approximately nine months. Management is planning to support its operations as well as redesign of the eBalance® microcurrent device through equity or debt financing. The Company’s continuation as a going concern depends upon the continued financial support of its shareholders, its ability to obtain necessary debt or equity financing to continue operations, and the attainment of profitable operations.

View Source Annual Report on SEC.gov ↗

References

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  757. [757] Item 7, MD&A — Results of Operations
  758. [758] Item 7, MD&A — Results of Operations
  759. [759] Item 7, MD&A — Results of Operations
  760. [760] Item 7, MD&A — Results of Operations
  761. [761] Item 7, MD&A — Results of Operations
  762. [762] Item 7, MD&A — Results of Operations
  763. [763] Item 7, MD&A — Results of Operations
  764. [764] Item 7, MD&A — Results of Operations
  765. [765] Item 7, MD&A — Results of Operations
  766. [766] Item 7, MD&A — Results of Operations
  767. [767] Item 7, MD&A — Results of Operations
  768. [768] Item 7, MD&A — Results of Operations
  769. [769] Item 7, MD&A — Results of Operations
  770. [770] Item 7, MD&A — Results of Operations
  771. [771] Item 7, MD&A — Results of Operations
  772. [772] Item 7, MD&A — Results of Operations
  773. [773] Item 7, MD&A — Results of Operations
  774. [774] Item 7, MD&A — Results of Operations
  775. [775] Item 7, MD&A — Results of Operations
  776. [776] Item 7, MD&A — Results of Operations
  777. [777] Item 7, MD&A — Results of Operations
  778. [778] Item 7, MD&A — Results of Operations
  779. [779] Item 7, MD&A — Results of Operations
  780. [780] Item 7, MD&A — Results of Operations
  781. [781] Item 7, MD&A — Results of Operations
  782. [782] Item 7, MD&A — Results of Operations
  783. [783] Item 7, MD&A — Results of Operations
  784. [784] Item 7, MD&A — Results of Operations
  785. [785] Item 7, MD&A — Results of Operations
  786. [786] Item 7, MD&A — Results of Operations
  787. [787] Item 7, MD&A — Results of Operations
  788. [788] Item 7, MD&A — Results of Operations
  789. [789] Item 7, MD&A — Results of Operations
  790. [790] Item 7, MD&A — Results of Operations
  791. [791] Item 7, MD&A — Results of Operations
  792. [792] Item 7, MD&A — Results of Operations
  793. [793] Item 7, MD&A — Results of Operations
  794. [794] Item 7, MD&A — Results of Operations
  795. [795] Item 7, MD&A — Results of Operations
  796. [796] Item 7, MD&A — Results of Operations
  797. [797] Item 7, MD&A — Results of Operations
  798. [798] Item 7, MD&A — Results of Operations
  799. [799] Item 7, MD&A — Results of Operations
  800. [800] Item 7, MD&A — Results of Operations
  801. [801] Item 7, MD&A — Results of Operations
  802. [802] Item 7, MD&A — Results of Operations
  803. [803] Item 7, MD&A — Results of Operations
  804. [804] Item 7, MD&A — Results of Operations
  805. [805] Item 7, MD&A — Results of Operations
  806. [806] Item 7, MD&A — Results of Operations
  807. [807] Item 7, MD&A — Results of Operations
  808. [808] Item 7, MD&A — Results of Operations
  809. [809] Item 7, MD&A — Results of Operations
  810. [810] Item 7, MD&A — Results of Operations
  811. [811] Item 7, MD&A — Results of Operations
  812. [812] Item 7, MD&A — Results of Operations
  813. [813] Item 7, MD&A — Results of Operations
  814. [814] Item 7, MD&A — Results of Operations
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  816. [816] Item 7, MD&A — Results of Operations
  817. [817] Item 7, MD&A — Results of Operations
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  819. [819] Item 7, MD&A — Results of Operations
  820. [820] Item 7, MD&A — Results of Operations
  821. [821] Item 7, MD&A — Results of Operations
  822. [822] Item 7, MD&A — Results of Operations
  823. [823] Item 7, MD&A — Results of Operations
  824. [824] Item 7, MD&A — Results of Operations
  825. [825] Item 7, MD&A — Results of Operations
  826. [826] Item 7, MD&A — Results of Operations
  827. [827] Item 7, MD&A — Results of Operations
  828. [828] Item 7, MD&A — Results of Operations
  829. [829] Item 7, MD&A — Results of Operations
  830. [830] Item 7, MD&A — Results of Operations
  831. [831] Item 7, MD&A — Results of Operations
  832. [832] Item 7, MD&A — Results of Operations
  833. [833] Item 7, MD&A — Results of Operations
  834. [834] Item 7, MD&A — Results of Operations
  835. [835] Item 7, MD&A — Results of Operations
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  837. [837] Item 7, MD&A — Results of Operations
  838. [838] Item 7, MD&A — Results of Operations
  839. [839] Item 7, MD&A — Results of Operations
  840. [840] Item 7, MD&A — Results of Operations
  841. [841] Item 7, MD&A — Results of Operations
  842. [842] Item 7, MD&A — Results of Operations
  843. [843] Item 7, MD&A — Results of Operations
  844. [844] Item 7, MD&A — Results of Operations
  845. [845] Item 7, MD&A — Results of Operations
  846. [846] Item 7, MD&A — Results of Operations
  847. [847] Item 7, MD&A — Results of Operations
  848. [848] Item 7, MD&A — Results of Operations
  849. [849] Item 7, MD&A — Results of Operations
  850. [850] Item 7, MD&A — Results of Operations
  851. [851] Item 7, MD&A — Results of Operations
  852. [852] Item 7, MD&A — Results of Operations
  853. [853] Item 7, MD&A — Results of Operations
  854. [854] Item 7, MD&A — Results of Operations
  855. [855] Item 7, MD&A — Results of Operations
  856. [856] Item 7, MD&A — Results of Operations
  857. [857] Item 7, MD&A — Results of Operations
  858. [858] Item 7, MD&A — Results of Operations
  859. [859] Item 7, MD&A — Results of Operations
  860. [860] Item 7, MD&A — Results of Operations
  861. [861] Item 7, MD&A — Results of Operations
  862. [862] Item 7, MD&A — Results of Operations
  863. [863] Item 7, MD&A — Results of Operations
  864. [864] Item 7, MD&A — Results of Operations
  865. [865] Item 7, MD&A — Results of Operations
  866. [866] Item 7, MD&A — Results of Operations
  867. [867] Item 7, MD&A — Results of Operations
  868. [868] Item 7, MD&A — Results of Operations
  869. [869] Item 7, MD&A — Results of Operations
  870. [870] Item 7, MD&A — Results of Operations
  871. [871] Item 7, MD&A — Results of Operations
  872. [872] Item 7, MD&A — Results of Operations
  873. [873] Item 7, MD&A — Results of Operations
  874. [874] Item 7, MD&A — Results of Operations
  875. [875] Item 7, MD&A — Results of Operations
  876. [876] Item 7, MD&A — Results of Operations
  877. [877] Item 7, MD&A — Results of Operations
  878. [878] Item 7, MD&A — Results of Operations
  879. [879] Item 7, MD&A — Results of Operations
  880. [880] Item 7, MD&A — Results of Operations
  881. [881] Item 7, MD&A — Results of Operations
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  883. [883] Item 7, MD&A — Results of Operations
  884. [884] Item 7, MD&A — Results of Operations
  885. [885] Item 7, MD&A — Results of Operations
  886. [886] Item 7, MD&A — Results of Operations
  887. [887] Item 7, MD&A — Results of Operations
  888. [888] Item 7, MD&A — Results of Operations
  889. [889] Item 7, MD&A — Results of Operations
  890. [890] Item 7, MD&A — Results of Operations
  891. [891] Item 7, MD&A — Results of Operations
  892. [892] Item 7, MD&A — Results of Operations
  893. [893] Item 7, MD&A — Results of Operations
  894. [894] Item 7, MD&A — Results of Operations
  895. [895] Item 7, MD&A — Results of Operations
  896. [896] Item 7, MD&A — Results of Operations
  897. [897] Item 7, MD&A — Results of Operations
  898. [898] Item 7, MD&A — Results of Operations
  899. [899] Item 7, MD&A — Results of Operations
  900. [900] Item 7, MD&A — Results of Operations
  901. [901] Item 7, MD&A — Results of Operations
  902. [902] Item 7, MD&A — Results of Operations
  903. [903] Item 7, MD&A — Results of Operations
  904. [904] Item 7, MD&A — Results of Operations
  905. [905] Item 7, MD&A — Results of Operations
  906. [906] Item 7, MD&A — Results of Operations
  907. [907] Item 7, MD&A — Results of Operations
  908. [908] Item 7, MD&A — Results of Operations
  909. [909] Item 7, MD&A — Results of Operations
  910. [910] Item 7, MD&A — Results of Operations
  911. [911] Item 7, MD&A — Results of Operations
  912. [912] Item 7, MD&A — Results of Operations
  913. [913] Item 7, MD&A — Results of Operations
  914. [914] Item 7, MD&A — Results of Operations
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  920. [920] Item 7, MD&A — Results of Operations
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  924. [924] Item 7, MD&A — Results of Operations
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  926. [926] Item 7, MD&A — Results of Operations
  927. [927] Item 7, MD&A — Results of Operations
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  930. [930] Item 7, MD&A — Results of Operations
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  932. [932] Item 7, MD&A — Results of Operations
  933. [933] Item 7, MD&A — Results of Operations
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  937. [937] Item 7, MD&A — Results of Operations
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  950. [950] Item 7, MD&A — Results of Operations
  951. [951] Item 7, MD&A — Results of Operations
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  967. [967] Item 7, MD&A — Results of Operations
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  998. [998] Item 7, MD&A — Results of Operations
  999. [999] Item 7, MD&A — Results of Operations
  1000. [1000] Item 7, MD&A — Results of Operations

Analysis on 8/31/2026