MedWellAI, Inc. has reported its financial results for the fiscal year ending June 30, 2025, revealing a total revenue of $594,768, a significant increase from $0 in the previous year. This revenue was primarily driven by commissions of $576,931 and online sales of $17,837, marking the company's entry into the health and wellness sector following its acquisition of Healthy Lifestyle USA LLC. However, the company also reported a net loss of $3,607,145, a reduction from the previous year's loss of $12,012,228, indicating a narrowing of losses as the company transitions its business model.
The fiscal year saw substantial operational changes, including the decision to discontinue its digital asset mining operations, which had previously been a significant revenue source. The company recognized an impairment of goodwill amounting to $670,329 and intangible assets of $81,796 due to regulatory hurdles affecting its online sales business. The acquisition of Healthy Lifestyle, completed in August 2024 for $350,000, included a cash component and shares of common stock, but the anticipated performance-based earn-out was not realized, leading to further financial adjustments.
Operationally, MedWellAI has shifted its focus to AI-driven healthcare solutions, particularly through its subsidiary MedWell USA, which operates a B2B e-commerce platform for pharmaceutical products. The company reported a customer concentration risk, with approximately 96% of its revenue generated from a single customer. As of June 30, 2025, the company had one full-time employee, reflecting a lean operational structure as it navigates its strategic pivot.
Looking ahead, MedWellAI faces challenges related to its financial health, with total current liabilities exceeding current assets by $2,637,137 and an accumulated deficit of $88,673,880. The company has indicated a need for additional capital to support its operations and growth initiatives. Management's plans include seeking funding through equity or debt financing, although there is no assurance that such financing will be available on favorable terms. The company’s ability to continue as a going concern remains uncertain, as highlighted by its auditors, who expressed doubt about the company's capacity to sustain operations without additional funding.
About MedWellAI, Inc.
Integrated Ventures, Inc. is a diversified holding company focused on digital asset mining, sales of branded mining rigs, and recently expanding into the health and wellness sector. It owns cryptocurrency mining infrastructure, primarily Bitcoin, and invests in digital assets. The company develops, acquires, and operates profitable businesses, leveraging blockchain technology and digital currencies in its core operations.
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