10-K: BioAdaptives, Inc. Files 10-K Report for Fiscal Year 2024, Outlines Strategic Shift and Product Development

Sentiment:

Annual Results 15 April 2025 5:20 PM

BioAdaptives, Inc. reports its 10-K filing for the year ended December 31, 2024, highlighting a strategic shift towards natural health products and medical devices, with new product launches expected in 2025.

Capital raiseThe company's continued existence is dependent on its ability to obtain additional working capital funding from the sale of equity and/or debt securities.The company plans to issue additional shares of common stock for cash and services during the next 12 months.

Worse than expectedThe company's revenue decreased significantly from 2023 to 2024.The company incurred a net loss of $(899,161) for the year ended December 31, 2024.The company's auditor has raised substantial doubt about its ability to continue as a going concern.

Summary

BioAdaptives, Inc. filed its Form 10-K for the fiscal year ended December 31, 2024.
The company is focusing on natural plant, fungi, and algal-based products and medical devices for human and animal health.
BioAdaptives is reformulating its product line and plans to introduce new products in the first quarter of 2025.
Key products in development include Zeranovia, a weight management supplement currently in human clinical trials, expected to launch commercially in the second quarter of 2025.
Xcellara regenerative stem cell activator and PawPa Regen canine treats are expected to be available in April 2025.
The company is also developing MyndMed, an advanced nootropic for cognitive enhancement.
BioAdaptives has developed a direct-to-consumer digital marketing campaign and is forming strategic partnerships within the telehealth industry.
The company outsources its manufacturing and emphasizes sourcing active ingredients from reputable suppliers with sustainable practices.
As of May 2024, BioAdaptives has one full-time executive employee and utilizes hourly labor and consultants as needed.
The company had minimal revenues of $12,669 for the year ended December 31, 2024, compared to $28,565 in 2023.
Operating expenses for 2024 were $429,026, funded through convertible debt and shareholder advances.
The company anticipates consistent expenditure levels until its business plan is fully implemented.
BioAdaptives had working capital of $261,885 as of December 31, 2024, compared to $88,557 in 2023.
The company's ability to continue as a going concern is dependent on obtaining additional working capital funding.
A reverse stock split of 1 for 300 shares was completed on November 21, 2024, and a one-for-one stock dividend was approved on December 3, 2024.

Sentiment

Score: 4

Explanation: The document presents a mixed sentiment. While there are positive developments such as new product launches and a strategic shift, the company's financial performance is weak, and there are significant risks and uncertainties regarding its ability to continue as a going concern.

Positives

The company is developing innovative products with potential in the health and wellness market.
Zeranovia shows promise as a weight management supplement with positive clinical trial results.
The company is expanding its marketing reach through direct-to-consumer strategies and telehealth partnerships.
Working capital increased significantly from 2023 to 2024.
New management is in place with a focus on strategic growth.

Negatives

The company has a limited operating history with its current business model.
Revenues for 2024 were minimal, and the company relies on external funding.
The company has incurred losses since inception and has a significant accumulated deficit of $9,163,306 as of December 31, 2024.
The company's auditor has raised substantial doubt about its ability to continue as a going concern.
The market for BioAdaptives' shares is minimal and sporadic.

Risks

The company's continued existence depends on its ability to implement its business plan and generate sufficient cash flow.
The company faces uncertainty in raising adequate capital in the equity securities market.
The company's business is capital intensive and requires continuous expenditures for research and development.
The company relies on certain key individuals, and the loss of one of them could adversely affect the company.
The company faces significant competition in the nutraceutical industry.
The company's internal controls may be inadequate, which could make its financial reporting unreliable.
The company's common stock is a penny stock, which is restricted by SEC regulations.
The Board of Directors has the authority to issue preferred stock with terms that may not be beneficial to common stockholders.

Future Outlook

BioAdaptives expects to launch new products in 2025, including Zeranovia, Xcellara, and PawPa Regen, and anticipates revenue from these products in the second quarter of 2025.

Management Comments

James Keener, CEO, canceled all dietary supplement products after analyzing BioAdaptives' product line.
Keener obtained Institutional Review Board (IRB) approval for the weight management product Zeranovia.
Keener believes Zeranovia will be a successful product in 2025.

Industry Context

The company is operating in the competitive nutraceutical industry, emphasizing natural and plant-based products, aligning with the growing consumer interest in health and wellness solutions.

Comparison to Industry Standards

The company's focus on natural ingredients and direct-to-consumer marketing aligns with trends seen in companies like The Honest Company and Thrive Market.
BioAdaptives' development of stem cell activators and nootropics places it in a similar space as companies like Elysium Health and Onnit, which focus on anti-aging and cognitive enhancement.
The company's financial performance is weak compared to established players in the nutraceutical industry, such as Herbalife and Amway, which have significant revenue and profitability.

Management Changes

Role	Previous Person	New Person	Effective Date	Reason
Chairman & CEO	Dr. Edward Jacobs	James E. Keener	May 15, 2024	Retirement
Director		Gimhana Dissanayake	May 27, 2024	New appointment

Related Party Transactions

The company repaid notes payable to a related party of $860 and recognized interest of $177.
Notes payable to a related party of $4283 and accrued interest of $856 were forgiven.
Accounts payable of $2,729 was paid by a related party, and due to related party of $5106 was forgiven.
The company entered into an employment agreement with James Keener as CEO, with a salary of $300,000 per annum.
The company entered into an employment agreement with Gimhana Dissanayake as a director, with a salary of $5,000 per month.

Stakeholder Impact

Shareholders face risks due to the company's financial instability and reliance on external funding.
Employees may be affected by the company's restructuring and reliance on consultants.
Customers may benefit from the company's focus on innovative health and wellness products.
Suppliers may be impacted by the company's sourcing practices and financial stability.
Creditors face risks due to the company's reliance on debt financing and going concern uncertainty.

Next Steps

The company intends to market its existing products.
The company intends to continue conducting research and investigation activities to identify new products or markets and improve its existing products and marketing.
The company intends to seek strategic or complimentary acquisitions in its current market space or, if indicated, others.

Key Dates

Date	Description
April 19, 2013	BioAdaptives, Inc. was incorporated in Delaware as APEX 8 Inc.
May 3, 2013	The Company filed a registration statement on Form 10-12g with the SEC.
June 11, 2013	The SEC staff informed the Company that it had no further comments on the registration statement.
January 10, 2014	The SEC notified the Company that the registration statement was effective.
July 9, 2014	The Company's shares commenced trading in the Over-the-Counter market under the trading symbol BDPT.
March 31, 2017	The Company filed Form 15-15D with the SEC, terminating its status as an SEC-reporting company.
May 10, 2019	The Company filed Form 10-12g with the SEC, re-entering the Continuous Disclosure program.
August 1, 2019	The SEC staff informed the Company that it had no further comments on the Form 10-12g filing.
September 11, 2019	Robert Ellis was appointed as President and Ron Lambrecht as Chief Financial Officer.
February 6, 2020	The Board of Directors established its Series A Preferred Stock and authorized an increase in the Company's authorized common stock.
January 26, 2022	The Board of Directors established its Series B Preferred Stock and authorized an increase in the Company's authorized common stock.
March 18, 2022	The Company filed Form 1-A with the SEC covering a plan to sell up to 200,000,000 shares of common stock.
October 7, 2022	The Form 1-A was amended to 250,000,000 shares of common stock at $0.001.
February 28, 2023	The Board of Directors increased the Company's authorized common stock from 750,000,000 to 1,250,000,000.
May 15, 2024	Dr. Edward Jacobs retired from the Company and was succeeded by James E. Kneer as Chairman and CEO.
May 27, 2024	Gimhana Dissanayake joined the Company as a Director.
October 28, 2024	The Board unanimously resolved to proceed with a reverse split of 1 for 300 shares.
November 21, 2024	The reverse stock split was completed.
December 3, 2024	The Board approved a One-for-One Stock Dividend to holders of common stock.
December 31, 2024	End of the fiscal year for which the 10-K report was filed.
March 21, 2025	As of this date, the company had 9,048,659 shares of common stock issued and outstanding.

Keywords

BioAdaptives, nutraceuticals, health and wellness, weight management, stem cell activator, nootropic, Zeranovia, Xcellara, PawPa Regen, MyndMed, 10-K filing, financial results

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