Regenerative Medical Technology Group Inc. (formerly Meso Numismatics, Inc.) reported significant financial developments for the nine months ended September 30, 2024, reflecting a strategic shift towards regenerative medicine following its acquisition of Global Stem Cells Group Inc. in August 2021. The company’s revenue for this period reached $2.6 million, a 44.71% increase from $1.8 million in the same period of 2023. This growth was driven by enhanced marketing efforts, increased lead generation, and the opening of the Cancun facility, which supports training and patient procedures.

For the third quarter of 2024, revenue was $986,308, up 52.48% from $646,828 in Q3 2023. Gross profit for the same quarter increased to $747,061, a 65.91% rise from $450,293 in the prior year. However, total operating expenses also rose, reaching $727,412, compared to $525,356 in Q3 2023, marking a 38.46% increase. The net loss for Q3 2024 was $(887,146), a significant improvement from $(5,857,159) in Q3 2023, reflecting an 84.85% reduction in losses.

For the nine-month period, gross profit was $1.8 million, up 48.51% from $1.2 million in 2023. Operating expenses totaled $2.1 million, a 17.65% increase from $1.8 million in the previous year. The net loss for the nine months ended September 30, 2024, was $(4.9 million), a substantial decrease from $(9.6 million) in 2023.

The company’s total assets increased to $3.2 million as of September 30, 2024, from $2.9 million at the end of 2023. Cash and cash equivalents also rose to $836,427, up from $530,540. However, the company reported a working capital deficit of $26.6 million and an accumulated deficit of approximately $66.9 million.

Strategically, the company is preparing for the opening of a new clinic in Dubai, UAE, scheduled for November 23, 2024, and has introduced new regenerative products, including Cellgenic peptides, which are expected to further enhance revenue. The company is also in debt restructuring talks due to significant promissory notes in default, totaling approximately $14.5 million in secured notes and $2.9 million in unsecured notes.

The company’s financial statements indicate substantial doubt about its ability to continue as a going concern without additional funding, prompting plans to seek capital through private equity offerings. The transition to a focus on regenerative medicine is expected to drive future growth, although the company acknowledges the challenges ahead.