Fri, Jun 28, 6:21 PM (71 days ago)
MDwerks, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company, a Delaware corporation, completed two significant acquisitions in 2023: Two Trees Beverage Co. and RF Specialties, LLC. These acquisitions are part of MDwerks' strategic pivot towards sustainable technology, particularly in energy wave technologies and rapid-aging systems for alcoholic beverages. **Financial Performance:** - **Revenue**: $104,066 in 2023, primarily from liquor sales post-acquisition. - **Net Loss**: $291,672, with an accumulated deficit of $739,388. - **Operating Expenses**: $528,114, a significant increase due to acquisition-related costs and public company obligations. - **Earnings Per Share**: Basic and diluted EPS were $(0.00). **Strategic Overview:** - MDwerks aims to leverage its expertise in radio wave and microwave technologies to reduce energy costs and expedite market entry for its products. - The acquisitions of Two Trees and RF Specialties are expected to drive future revenue growth. **Future Outlook:** - The company plans to focus on integrating the acquired businesses and expanding its market presence. - Additional funding is required to sustain operations and support growth initiatives. **Risk Factors:** - Continued net losses and the need for additional financing raise substantial doubt about MDwerks' ability to continue as a going concern. - The company faces challenges related to the integration of acquisitions and achieving profitability. **Market Position Changes:** - The acquisitions have positioned MDwerks as a player in the sustainable technology and rapid-aging alcoholic beverage sectors. MDwerks, Inc. remains focused on executing its business plan and securing additional capital to support its strategic objectives.