$MDWK

MDWerks, Inc.

CIK:0001295514|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 524,090	$ 420,609	$ 958,177	$ 934,539
Cost of revenues	451,674	701,906	1,022,024	1,083,304
Gross profit(loss)	72,416	(281,297)	(63,847)	(148,765)
Operating expenses:
Selling, general and administrative expenses	323,777	589,362	811,671	1,173,267
Salaries and wages	164,928	375,265	310,982	469,074
Depreciation and amortization	93,313	78,588	160,914	151,195
Total operating expenses	582,018	1,043,215	1,283,567	1,793,536
Operating loss	(509,602)	(1,324,512)	(1,347,414)	(1,942,301)
Other income (expense):
Other income				200
Interest expense, net	(20,270)	(12,380)	(29,490)	(24,145)
Total other expense	(20,270)	(12,380)	(29,490)	(23,945)
Net loss	$ (529,872)	$ (1,336,892)	$ (1,376,904)	$ (1,966,246)
Net loss per common share - basic	$ (0.00)	$ (0.01)	$ (0.01)	$ (0.01)
Net loss per common share - diluted	$ (0.00)	$ (0.01)	$ (0.01)	$ (0.01)
Weighted average common shares outstanding:
Basic	237,579,115	220,395,322	236,523,911	215,540,647
Diluted	237,579,115	220,395,322	236,523,911	215,540,647

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,376,904)	$ (1,966,246)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	160,914	151,195
Stock-based compensation	85,256	106,096
Inventory impairment	99,588
Allowance for credit losses	(1,155)	27,317
Changes in operating assets and liabilities:
Accounts receivable	(51,934)	17,208
Prepaid expense	97,154	73,805
Inventory	243,161	(85,351)
Right-of-use asset	161,047	123,288
Accounts payable	67,418	711,556
Accounts payable – related party		(46,812)
Deferred revenue	73,407	196,913
Right-of-use liability	(163,868)	(140,121)
NET CASH USED IN OPERATING ACTIVITIES	(605,916)	(831,152)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(38,333)	(707,454)
NET CASH USED IN INVESTING ACTIVITIES	(38,333)	(707,454)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from convertible notes payable, related parties	115,000
Proceeds from related party notes payable	9,000	150,000
Repayment of related party notes payable		(105,500)
Repayment of notes payable	(128,441)	(152,723)
Proceeds from subscription agreements	450,000	1,649,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	445,559	1,540,777
NET CHANGE IN CASH	(198,690)	2,171
CASH - BEGINNING OF YEAR	211,948	11,159
CASH - END OF PERIOD	13,258	13,330
Supplemental disclosures of cash flow information:
Cash paid for interest	4,482	276
Cash paid for taxes
Supplemental disclosure of non-cash investing and financing activities
Right of use asset, operating lease	450,866
Property and equipment additions in accounts payable	5,667	64,350
Common stock issued for inventory	106,800	850,000
Insurance premium financed with a note payable	$ 147,973	$ 171,050

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash	$ 13,258	$ 211,948
Accounts receivable, net	96,578	43,489
Inventory	585,007	820,956
Prepaid expenses	141,478	90,659
Total Current Assets	836,321	1,167,052
Fixed assets, net	1,179,841	1,268,555
Intangible assets, net	474,181	502,382
Right-of-use asset	917,944	628,125
Goodwill	466,648	466,648
Other non-current assets	16,010	16,010
Total Assets	3,890,945	4,048,772
Current Liabilities
Accounts payable and accrued expenses	1,603,509	1,560,425
Deferred revenue	530,585	457,178
Right-of-use liability, current portion	243,050	124,856
Total Current Liabilities	2,918,412	2,422,069
Right-of use liability, net of current portion	705,057	536,253
Total Liabilities	3,623,469	3,046,448
Stockholders’ Equity (Deficit)
Preferred stock, par value $0.001; 10,000,000 shares authorized, of which 0 were issued and outstanding
Common stock, par value $0.001; 300,000,000 shares authorized, of which 239,849,681 and 234,105,560 shares were issued and outstanding at June 30, 2026 and December 31, 2025, respectively	239,850	234,106
Additional paid in capital	7,548,025	6,911,713
Subscription payable	15,000	15,000
Accumulated deficit	(7,535,399)	(6,158,495)
Total Stockholders’ Equity (Deficit)	267,476	1,002,324
Total Liabilities and Stockholders’ Equity (Deficit)	3,890,945	4,048,772
Related Party [Member]
Current Liabilities
Accounts payable
Notes payable	176,500	117,500
Notes payable , net of current portion		38,126
Nonrelated Party [Member]
Current Liabilities
Notes payable	219,768	162,110
Convertible Notes payable – related party	145,000
Notes payable , net of current portion		$ 50,000