Mon, Mar 24, 8:08 PM (33 days ago)
**Vynleads, Inc. (VYND) - Annual Report Summary** **Financial Performance (in thousands):** - **Revenue:** $0 for 2024, a 0% change from 2023. - **Net Income:** A net loss of $261,192 for 2024, compared to a net loss of $263,437 for 2023. - **Operating Expenses:** Increased by 12.09% to $224,346 in 2024 from $200,156 in 2023. - **Earnings Per Share:** A loss of $0.02 per share for both 2024 and 2023. **Strategic Overview:** - **Business Model:** Vynleads focuses on providing health and wellness information, primarily targeting individuals with pre-diabetes or type 2 diabetes. - **Core Product:** The Lifestyle Blueprint, a digital guide offering dietary recommendations and nutritional information. - **Market Position:** Competes with larger, established companies like Nutrisystem, Medifast, and Weight Watchers. **Future Outlook:** - Plans to expand the Lifestyle Blueprint model across various health and wellness verticals. - Intends to leverage AI for product customization and enhancement. - Aims to revolutionize preventative care and manage chronic illnesses. **Risk Factors:** - **COVID-19 Impact:** The pandemic has adversely affected demand for products and services. - **Financial Condition:** Significant doubt about the ability to continue as a going concern due to recurring losses and negative cash flows. - **Market Position:** Faces competition from well-established, well-capitalized companies. **Financial Condition:** - **Liquidity:** Experienced negative cash flows from operations of $112,390 in 2024. - **Capital Requirements:** Needs approximately $5,500,000 in additional working capital for the next 12 months. - **Debt:** Converted multiple notes payable to equity, reducing current liabilities. **Market Position Changes:** - **Stock Performance:** Traded on OTCQB with the symbol VYND, priced at $0.50 as of March 24, 2025. - **Shareholders:** 51 stockholders holding 18,327,364 shares of common stock. **Governance and Management:** - **Board of Directors:** Includes Alex J. Mannine (CEO) and Sergei Stetsenko. - **Executive Compensation:** CEO Alex J. Mannine received $130,000 in salary for both 2024 and 2023, treated as in-kind contribution of service. **Cybersecurity and Risk Management:** - Implemented policies to identify, analyze, mitigate, and manage cybersecurity risks. - No material cybersecurity incidents reported as of the date of this report. **Regulatory and Legal:** - Subject to various federal, state, and international regulations. - Facing potential legal actions related to promotional services and UCC liens.