$MEDS

Wellgistics Health, Inc.

CIK:0002030763|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]
Net revenues	$ 1,779,860	$ 7,790,865	$ 3,339,423	$ 18,654,308
Cost of net revenues	1,597,656	7,285,113	2,986,998	17,455,915
Gross profit	182,204	505,752	352,425	1,198,393
Operating expenses:
General and administrative	7,056,671	4,859,949	11,925,606	36,032,869
Sales and marketing	113,990	343,383	1,073,990	408,600
Depreciation and amortization	356,597	802,796	713,421	1,605,668
Total operating expenses	7,527,258	6,006,128	13,713,017	38,047,137
Loss from operations	(7,345,054)	(5,500,376)	(13,360,592)	(36,848,744)
Other income/(expense):
Interest expense, net	(1,561,240)	(1,184,040)	(3,633,919)	(2,278,530)
Loss on extinguishment of vendor obligation	(320,000)		(60,120)
Loss on extinguishment of debt	(8,881,694)		(8,881,694)
Loss on contract termination fee	(766,394)		(766,394)
Settlement fees			(13,000)
Other income	511,157	11,952	609,897	23,907
Total other expense, net	(11,018,171)	(1,172,088)	(12,745,230)	(2,254,623)
Net loss before income taxes	(18,363,225)	(6,672,464)	(26,105,822)	(39,103,367)
Provision for income taxes
Net loss	$ (18,363,225)	$ (6,672,464)	$ (26,105,822)	$ (39,103,367)
Weighted average common shares outstanding - basic	2,574,669	1,235,423	2,335,557	1,137,274
Weighted average common shares outstanding - diluted	2,574,669	1,235,423	2,335,557	1,137,274
Net loss per common share - basic	$ (7.13)	$ (5.40)	$ (11.18)	$ (34.38)
Net loss per common share - diluted	$ (7.13)	$ (5.40)	$ (11.18)	$ (34.38)

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net loss	$ (18,363,225)	$ (7,742,597)	$ (6,672,464)	$ (32,430,903)	$ (26,105,822)	$ (39,103,367)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowances for credit losses					213,787	200,454
Loss on extinguishment on vendor obligation					60,120
Loss on extinguishment of debt	8,881,694				8,881,694
Loss on contract termination fee					766,394
Amortization of debt discount					2,343,252	33,411
Stock-based compensation					2,562,514	28,708,643
Reserve for inventory obsolescence	55,000				72,967		$ 5,988,257
Depreciation	27,635		39,731		55,497	79,538
Amortization					657,924	1,526,129
Changes in operating assets and liabilities:
Accounts receivable, net					(250,904)	362,911
Inventories, net					56,336	487,465
Prepaid and other current assets					(410,010)	(65,001)
Other assets						332
Accounts payable					2,432,030	3,141,897
Accrued expenses and other liabilities					2,640,868	1,145,749
Operating lease liabilities, net					(32,906)	(5,720)
Due from / to related parties, net					(251,068)	61,112
Net cash used in operating activities					(6,307,328)	(3,426,447)
Cash flows from investing activities:
Investments in capitalized software					(447,230)	(405,059)
Net cash used in investing activities					(447,230)	(405,059)
Cash flows from financing activities:
Proceeds from exercise of warrants					1,000
Proceeds from promissory note						615,000
Repayment of promissory note					(36,751)
Repayment of seller promissory note						(137,141)
Proceeds from term loan						703,366
Proceeds from revolving line of credit						17,146,000
Repayment of revolving line of credit					(1,643,923)	(18,697,494)
Proceeds from convertible notes					14,200,000
Proceeds from merchant cash advance						234,157
Repayment of merchant cash advance					(89,909)
Repayment of term loan					(2,104,557)
Proceeds from common stock issued pursuant to equity purchase agreement						567,722
Proceeds from common stock issued pursuant to public offering						4,000,000
Equity issuance costs					(1,157,500)	(1,208,498)
Net cash provided by financing activities					9,168,360	3,223,112
Net change in cash and cash equivalents					2,413,802	(608,394)
Cash and cash equivalents at beginning of period		$ 42,571		$ 1,028,336	42,571	1,028,336	1,028,336
Cash and cash equivalents at end of period	$ 2,456,373		$ 419,942		2,456,373	419,942	$ 42,571
Supplemental disclosure of cash flow information:
Cash paid for income taxes
Cash paid for interest					516,505	1,477,713
Supplemental disclosure of non-cash investing and financing activities:
Issuance of common stock and warrants in settlement of accrued compensation					2,599,611
Issuance of common stock in settlement of vendor and debt obligation					2,001,620
Fair value of PIPE and placement agent warrants					12,733,596
Convertible notes issued in lieu of cash for placement agent fee					133,985
Subscription receivable						581,695
Issuance of commitment shares under equity purchase agreement						594,320
Common stock issued in partial settlement of seller’s note						$ 1,500,000

Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 2,456,373	$ 42,571
Accounts receivable, net	1,174,336	1,137,219
Inventories, net	1,510,123	1,639,426
Due from related party	26,068
Prepaid and other current assets	465,738
Total current assets	5,632,638	2,819,216
Property, plant and equipment, net	173,879	229,376
Capitalized software	2,297,588	1,850,358
Operating lease, right-of-use-assets	719,645	966,893
Goodwill	14,193,923	14,193,923
Other intangible assets, net	9,656,751	10,314,675
Deposits	85,008	85,008
Total assets	32,759,432	30,459,449
Current liabilities:
Accrued expenses and other liabilities	7,003,749	6,407,722
Due to related parties		225,000
Convertible notes payable, net of debt discount	12,101,803
Current portion of debt obligations, net of debt discount	7,104,225	10,887,520
Operating lease liabilities- current portion	566,379	569,251
Total current liabilities	39,413,823	29,780,128
Operating lease liabilities	249,840	527,122
Total liabilities	52,263,663	42,907,250
Commitments and contingencies (Note 14)
Stockholders’ equity (deficit):
Common stock, $0.0001 par value, 500,000,000 shares authorized, 2,847,198 and 2,045,792 shares issued and 2,836,484 and 2,026,150 shares outstanding as of June 30, 2026 and December 31, 2025, respectively	283	203
Additional paid-in capital	117,632,998	98,583,686
Accumulated deficit	(137,137,512)	(111,031,690)
Total stockholders’ equity (deficit)	(19,504,231)	(12,447,801)
Total liabilities and stockholders’ equity (deficit)	32,759,432	30,459,449
Nonrelated Party [Member]
Current liabilities:
Accounts payable	12,612,167	11,665,135
Notes payable	12,600,000	12,600,000
Related Party [Member]
Current liabilities:
Accounts payable	$ 25,500	$ 25,500