Odyssey Health Reports $1.74 Million Net Loss for Fiscal Year Ending July 31, 2025

Odyssey Health, Inc. reported a net loss of $1.74 million for the fiscal year ending July 31, 2025, compared to a net loss of $842,316 in the previous year, marking a 107% increase in losses. The company did not generate any revenue during this period, consistent with the prior year. General and administrative expenses decreased by 51% to approximately $1.02 million, down from $2.08 million in fiscal 2024, primarily due to reduced salaries and lower business activity. Research and development expenses were non-existent in fiscal 2025, a significant drop from $55,166 in the previous year, as the company suspended its development programs.

In terms of operational changes, Odyssey Health has focused on its two primary product candidates: the CardioMap heart monitoring device and the Save-A-Life choking rescue device. However, neither product has received regulatory clearance or approval for commercial sale. The company has indicated that it will prioritize the development of the Save-A-Life device, while the CardioMap program remains suspended due to funding constraints. As of July 31, 2025, Odyssey Health had current liabilities of $7 million against current assets of only $49,723, resulting in a working capital deficit of approximately $6.95 million, raising substantial doubt about its ability to continue as a going concern.

Strategically, Odyssey Health has engaged in financing activities to support its operations. In August 2024, the company entered into a $300,000 promissory note with an accredited investor, which has since been amended to extend its maturity to January 31, 2026. Additionally, the company sold all its shares of Oragenics common stock in the fourth quarter of fiscal 2025 for net proceeds of $69,787. The company has also been actively converting outstanding debts into equity, with LGH Investments converting $144,000 of their convertible note into 2 million shares of common stock in October 2025.

Looking ahead, Odyssey Health's management has expressed intentions to seek additional capital through various means, including debt and equity financing, to support its ongoing operations and product development. The company remains focused on acquiring and developing medical technologies that can generate positive cash flow, although it acknowledges the challenges posed by its current financial position and the need for regulatory approvals before any products can be marketed. The outlook remains uncertain, as the company has not yet established a clear path to profitability or operational stability.