World Health Energy Holdings, Inc. (WHEN) reported a total revenue of $166,028 for the fiscal year ending December 31, 2024, a decrease from $207,709 in the previous year. The company experienced a net loss of $4,902,480, a reduction from a loss of $7,050,400 in 2023. This improvement in net loss is attributed to a significant decrease in operating expenses, particularly in research and development and general administrative costs, which fell from $1,935,085 to $1,297,274 and from $5,080,725 to $2,703,344, respectively. The company’s operating loss also decreased from $6,900,154 in 2023 to $4,090,027 in 2024.
In terms of strategic developments, WHEN has made notable acquisitions, including a 51% stake in CrossMobile, a Polish mobile virtual network operator, and a 26% stake in Instaview Ltd., a company specializing in AI-based image processing systems. The acquisition of CrossMobile is expected to enhance WHEN's presence in the European telecom market, while Instaview's technology is anticipated to complement WHEN's cybersecurity offerings. Additionally, the company entered into agreements with Intent HQ and Terra Zone Ltd. to expand its cybersecurity product offerings and enhance its technological capabilities.
Operationally, CrossMobile has signed up approximately 7,000 pre-paid contract subscribers, indicating a growing customer base. The company plans to leverage its telecom services to introduce value-added services, including proprietary AI and cybersecurity solutions. As of April 2025, WHEN employed a total of 15 individuals across its subsidiaries, with a focus on expanding its workforce to support its growth initiatives.
The company’s financial condition remains a concern, with a negative working capital of $967,862 as of December 31, 2024, compared to a deficiency of $467,243 in the previous year. Liquidity is heavily reliant on an investment agreement with director George Baumeohl, who has committed to provide up to $3 million in equity investments through August 2025. The company has expressed substantial doubt about its ability to continue as a going concern without additional funding, highlighting the need for ongoing capital to support its operations and growth plans.
Looking ahead, WHEN aims to enhance its product offerings and expand its market presence, particularly in the telecom and cybersecurity sectors. The company plans to pursue additional funding opportunities and explore strategic partnerships to bolster its financial position and operational capabilities. However, the success of these initiatives will depend on market conditions and the company's ability to execute its business strategy effectively.
About WORLD HEALTH ENERGY HOLDINGS, INC.
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