$MITI

Mitesco, Inc.

CIK:0000802257|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue	$ 20,000	$ 18,700	$ 20,000	$ 35,700
OPERATING EXPENSES:
Cost of operations	0	4,769	0	10,051
General and administrative	445,727	344,563	695,123	623,267
Software development	33,145	21,122	136,678	21,122
Total operating expenses	478,872	370,454	831,801	654,440
Net loss from operations	(458,872)	(351,754)	(811,801)	(618,740)
OTHER INCOME (EXPENSES):
Gain on forgiveness of liabilities	0	562,793	0	562,793
Loss on settlement of Series A Preferred	(94,652)	(8,038)	(196,385)	(259,015)
Gain on revaluation of derivative liabilities	137,665	68,222	133,277	4,430,867
Total other income (expense)	(518,512)	264,370	(942,872)	3,981,692
Net income (loss)	(977,384)	(87,384)	(1,754,673)	3,362,952
Preferred stock dividends			(58,628)	(25,016)
Net loss available to common shareholders	$ (1,009,698)	$ (99,698)	$ (1,813,301)	$ 3,337,936
Basic Net income (loss) per common share (in Dollars per share)	$ (0.05)	$ (0.01)	$ (0.1)	$ 0.32
Dilutive Net income (loss) per common share (in Dollars per share)	$ (0.05)	$ (0.01)	$ (0.1)	$ (0.07)
Weighted average shares outstanding – Basic (in Shares)	20,249,376	11,305,362	18,745,550	10,543,075
Weighted average shares outstanding – Diluted (in Shares)	20,249,376	14,531,229	18,745,550	13,768,942
Nonrelated Party
OTHER INCOME (EXPENSES):
Interest expense	$ (561,525)	$ (358,607)	$ (879,764)	$ (750,656)
Preferred stock dividends	(32,314)	(12,314)	(58,628)	(24,628)
Related Party
OTHER INCOME (EXPENSES):
Interest expense	0	0	0	(2,297)
Preferred stock dividends	$ 0	$ 0	$ 0	$ (388)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (1,754,673)	$ 3,362,952
Amortization of intangible assets	0	19,375
Amortization of debt discount	81,031	5,000
Day one interest expense for derivative liability	210,813	0
Stock-based compensation	291,563	12,500
Accretion of Series A preferred recorded as interest expense	424,449	628,776
Loss on revaluation of Series A preferred	196,385	259,015
Gain on revaluation of derivative liabilities	(133,277)	(4,430,867)
Gain on settlement of liabilities	0	(562,793)
Changes in operating assets and liabilities:
Accounts receivable	(10,000)	(3,600)
Prepaid expenses	2,710	2,710
Accounts payable and accrued liabilities	144,831	574,752
Deferred revenue	(10,000)
Net cash used in operating activities	(495,106)	(188,060)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used in investing activities	(55,000)	0
Net cash used in investing activities	(55,000)	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on SBA loan	(13,767)	(12,618)
Proceeds from sale of Series A preferred stock	0	100,000
Proceeds from notes payable	471,000	100,000
Net cash provided by financing activities	457,233	187,382
Net change in cash	(92,873)	(678)
Cash at beginning of period	100,857	3,402
Cash at end of period	7,984	2,724
Supplemental disclosure of cash flow information:
Cash paid for interest	3,845	1,616
Cash paid for taxes	0	0
Supplemental disclosure of financing cash flow information:
Preferred stock dividends	58,628	25,016
Shares issued for Series X dividends	52,628	24,628
Shares issued for redemption of Series A preferred stock	627,891	928,497
Shares issued for settlement of Series D, notes payable, and accrued liabilities	0	42,535
Derivative liability established as debt discount upon note issuance	346,000	0
Nonrelated Party
Changes in operating assets and liabilities:
Accrued interest - related parties	61,062	(33,333)
Supplemental disclosure of financing cash flow information:
Preferred stock dividends	58,628	24,628
Related Party
Changes in operating assets and liabilities:
Accrued interest - related parties	0	(22,547)
Supplemental disclosure of financing cash flow information:
Preferred stock dividends	$ 0	$ 388

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 7,984	$ 100,857
Accounts receivable, net	37,600	27,600
Unsecured advances	55,000	0
Prepaid expenses and other current assets	941	3,651
Total current assets	101,525	132,108
Total Assets	101,525	132,108
Current liabilities
Accounts payable and accrued liabilities	4,053,707	4,027,183
Accrued interest	459,418	398,356
Derivative liabilities	822,696	399,160
Deferred Revenue	0	10,000
Lease liability - operating leases, current	99,477	99,477
Notes payable, net of discounts	639,416	639,416
SBA loan payable	354,034	367,801
Convertible Notes Payable, Net	709,372	503,341
Other current liabilities	96,136	96,136
Preferred stock dividends payable	32,314	26,314
Legal settlements	3,505,843	3,387,536
Series A preferred stock liability, current	11,619,154	9,447,335
Total current liabilities	22,391,567	19,402,055
Series A preferred stock liability, non-current	2,023,768	4,202,644
Total liabilities	24,415,335	23,604,699
Commitments and contingencies (Note 12)	0	0
Stockholders’ deficit
Common stock, $0.01 par value, 500,000,000 shares authorized, 20,940,597 and 15,093,055 shares issued and outstanding as of June 30, 2026, and December 31, 2025, respectively	209,405	150,931
Additional paid-in capital	40,587,568	39,732,684
Accumulated deficit	(65,111,300)	(63,356,627)
Total stockholders’ deficit	(24,313,810)	(23,472,591)
Total liabilities and stockholders’ deficit	101,525	132,108
Series D Preferred Stock
Stockholders’ deficit
Preferred stock, Value	0	0
Series F Preferred Stock
Stockholders’ deficit
Preferred stock, Value	0	0
Series X Preferred Stock
Stockholders’ deficit
Preferred stock, Value	$ 517	$ 421