United Health Products, Inc.
0.0700-0.01 (-7.89%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · UEEC · USD
Key Stats
Market Cap
18.04MP/E (TTM)
-Basic EPS (TTM)
-0.02Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
United Health Products posted no revenue for Q2 FY2025 ended June 30, 2025, matching last year as it funnels resources into FDA premarket approval for its CelluSTAT hemostatic gauze in surgical markets. Operating expenses dropped 33.7% y/y to $268,356 (derived), trimming the operating loss to $268,356 from $405,177, while net loss narrowed to $315,187 from $432,021, with the gap to operating loss under 20% tied to interest expenses. YTD through June, net loss widened to $1.85M from $0.88M, driven by $1.12M in stock-based compensation from RSU vesting, yet cash burn eased to $459K used in operations from $693K. Cash dwindled to $225, offset by $290K in new convertible notes at 13% interest maturing December 2026, alongside $1.35M total debt and a $10M equity line with White Lion. FDA hurdles persist on clinical data. Regulatory delays could stall progress.
8-K
Finance VP resigns abruptly
United Health Products' Vice President of Finance and Principal Financial Officer, Kristofer Heaton, resigned effective June 12, 2025, due to personal and professional factors. CEO Brian Thom steps in as interim principal financial officer while the company hunts for a replacement. This leadership shift could disrupt financial oversight amid ongoing operations.
8-K
OTCQB uplisting amid FDA setback
United Health Products uplisted its common stock from OTC Pink to OTCQB on May 1, 2025, aiming to enhance investor visibility and liquidity amid its push for FDA Premarket Approval of CelluSTAT Hemostatic Gauze. The FDA rejected the company's Investigational Device Exemption on April 25 due to prior clinical study audit findings, prompting a forthcoming teleconference to resolve issues. Uplisting marks progress, yet FDA approval remains uncertain.
10-Q
Q1 FY2025 results
United Health Products posted a $1.5M net loss for Q1 FY2025 ended March 31, 2025, up from $452K a year earlier, with no revenue as resources poured into FDA PMA pursuit for CelluSTAT hemostatic gauze. Operating expenses ballooned to $1.5M from $425K, driven by $1.1M in stock-based compensation from vesting 4.7M restricted stock units, while research and development held steady at $116K. The net loss exceeded the operating loss by $42K due to interest on convertible notes. Cash dwindled to $5K from $169K, offset by $110K in financing from new notes and related-party advances, leaving $1.8M current liabilities against $35K assets. Total debt stands at $1.1M in convertible notes maturing 2026 at 13%. Stock compensation spiked expenses.
10-K
FY2024 results
United Health Products posted a narrowed net loss of $2.0 million for FY2024 ended December 31, 2024, down 24% from $2.6 million in 2023, driven by lower operating expenses of $2.0 million versus $2.4 million amid paused commercial activities to chase FDA PMA approval for CelluSTAT in surgical markets. No revenue materialized in either year, with Q4 2024 seeing a $115,085 gain on debt settlement that offset some costs, while research and development dipped to $356K annually but included a $34K inventory write-off. Cash climbed to $169K by year-end, fueled by $1.3 million in financing including stock sales, yet working capital stayed negative at $1.4 million with $1.1 million in total debt. No annual guidance emerged, but strategic talks with medtech firms hint at partnerships. FDA approval remains elusive, stalling quarterly momentum.
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