Odyssey Health Reports $483K Net Loss, Enters Agreement for BreastCheck® Technology

Odyssey Health, Inc. reported a net loss of $483,447 for the three months ended October 31, 2025, a significant reduction from the $1,018,906 loss recorded in the same period last year, representing a 52.6% decrease. The company did not generate any revenue during this quarter, consistent with the previous year. General and administrative expenses decreased by 47.7% to $303,190, down from $579,427, primarily due to reduced public company expenses and a voluntary decrease in executive salaries. Interest expenses increased by 38.6% to $95,336, reflecting higher debt levels, while financing costs of $507,368 were recorded for the first time this quarter.

In terms of financial position, Odyssey Health's total assets rose to $143,622 as of October 31, 2025, compared to $49,723 at the end of the previous fiscal period. This increase was driven by a rise in cash and prepaid expenses. However, total current liabilities also increased to $7,298,810 from $7,004,421, leading to a stockholders' deficit of $7,155,188, up from $6,954,698. The company continues to face significant financial challenges, with an accumulated deficit of $63,229,284, indicating ongoing operational losses and negative cash flows.

Strategically, Odyssey Health has entered into a Master Technology and Sub-license Agreement with NeuRX Health, Inc. for exclusive rights to the BreastCheck® technology, a non-invasive test for breast abnormalities. This agreement is expected to close in January 2026 and will require the company to manage all aspects of manufacturing, distribution, and marketing for the product. The company is also focused on developing its CardioMap heart monitoring device and the Save-A-Life choking rescue device, although none of these products have received regulatory approval for commercial sale.

Operationally, Odyssey Health's employee headcount remains stable, and the company continues to explore avenues for geographic expansion and product development. The company has not yet begun marketing any products, as it awaits necessary FDA approvals. The outlook remains cautious, with management indicating that the ability to continue operations depends on securing additional capital to meet obligations and execute its business plan. The company is actively seeking financing through debt or equity issuances and collaborative arrangements, but there is no assurance that it will be successful in these efforts.