MDwerks, Inc. reported significant financial developments in its recent 10-K filing for the fiscal year ending December 31, 2024. The company generated total revenues of $2.36 million, a substantial increase from $104,066 in the previous year. This growth is primarily attributed to the acquisitions of Two Trees Beverage Company and RF Specialties, which contributed $1.32 million and $1.04 million in revenue, respectively. Despite this revenue growth, MDwerks incurred a net loss of $1.62 million, compared to a loss of $291,672 in 2023, reflecting increased operational costs associated with the newly acquired businesses.
The company completed two significant acquisitions in 2023, acquiring Two Trees on December 8 and RF Specialties on December 27. These acquisitions are expected to enhance MDwerks' market position in the beverage and industrial sectors. The Two Trees acquisition allows MDwerks to leverage its patented Spirits Rapid Aging System, which has already produced over 50 SKUs and several award-winning products. Additionally, MDwerks anticipates future revenue growth from contracts related to the lease of its Spirits Rapid Aging System, expected to commence in the second half of 2025.
Operationally, MDwerks reported a total of 14 full-time and 5 part-time employees as of December 31, 2024. The company’s inventory increased to $236,863 from $201,207 in the previous year, indicating a growing product line. The company also noted that it had 355 record holders of its common stock as of March 18, 2025, reflecting a broadening shareholder base. However, the company faces challenges, including a working capital deficit of $1.24 million and a cash balance of only $11,159, raising concerns about its ability to sustain operations without additional financing.
Looking ahead, MDwerks management expressed substantial doubt about the company's ability to continue as a going concern without raising additional capital. The company plans to seek further equity or debt financing to support its operations and growth initiatives. The management's outlook emphasizes the need for strategic execution in integrating the acquired businesses and expanding their market presence to achieve profitability. The company’s financial statements indicate that it has incurred operating losses since inception, and it remains to be seen how effectively it can navigate these challenges in the coming fiscal periods.
About MDWerks, Inc.
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