Functional Brands Inc.

Listed Company

MEHACIK 0001837254NasdaqEmerging GrowthMedicinal Chemicals & Botanical ProductsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$6.61M

Net Income

$758.5K

Total Assets

$9.11M

Equity

$1.54M

Shares Out

20.80M

Op. Cash Flow

$-1.27M

Business

Functional Brands Inc. is a publicly listed company in Medicinal Chemicals & Botanical Products, incorporated in Delaware. Common stock trades on Nasdaq under the ticker MEHA.

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Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31
Revenue, net of returns	7	7
Cost of goods sold	3	3
Gross profit	3	4
Sales and marketing	632,414	576,315
General and administrative expenses	4	3
Total operating expenses	5	4
Operating loss	−1	−229,092
Interest expense	−402,398	−331,836
Other income ERTC refund	419,947	—
Other income	112	—
Interest income	74,696	1,572
Change in fair value of derivative liabilities	7	—
Loss on issuance of preferred stock derivative liability	−5	—
Total other income / (expenses)	2	−330,264
Net income / (loss)	758,478	−559,356
Basic (in Dollars per share)	0.08	−0.08
Diluted (in Dollars per share)	0.01	−0.08
Basic (in Shares)	8	7
Diluted (in Shares)	85	7

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Cash	3	211,642	—
Accounts receivable, net	518,474	303,471	—
Inventories, net	2	2	—
Prepaid expenses and other current assets	392,999	45,112	—
Deferred offering costs	—	588,641	—
Total current assets	5	3	—
Property and equipment, net	37,379	49,564	—
Right-of-use assets, net	2	2	—
Intangible assets, net	1	1	—
Goodwill	818,139	818,139	—
Total non-current assets	4	4	—
Total assets	9	7	—
Accounts payable and accrued liabilities	2	2	—
Line of credit	8,109	32,235	—
SBA loan, current	3,595	3,436	—
Lease liabilities, current	371,272	291,213	—
Other current liabilities	41,828	35,332	—
Derivative liabilities	3	—	—
Payable for acquisition, current	—	2	—
Loans payable (related party), current	61,642	370,703	—
Loans payable	402,650	171,500	—
Total current liabilities	6	5	—
Lease liabilities, net of current	1	2	—
SBA loan, net of current	136,873	140,468	—
Loan payable (related party), net of current	244,509	—	—
Convertible debenture	—	100,000	—
Total non-current liabilities	2	2	—
Total liabilities	8	7	—
Common stock, par value $0.00001, 220,000,000 shares authorized; 18,704,649 and 6,694,880 shares issued and outstanding at December 31, 2025 and 2024	187	67	—
Additional paid-in capital	9	8	—
Accumulated deficit	−7	−8	—
Total stockholders equity / (deficit)	2	−118,577	25,879
Total liabilities and stockholders equity / (deficit)	9	7	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31
Allowance for doubtful accounts receivable	−3,796	−32,491
Allowance for inventory obsolescence	53,855	−14,206
Depreciation of property and equipment	20,698	48,371
Amortization of right-of-use assets	332,399	306,935
Amortization of intangible assets	46,130	46,130
Financing expense on warrant issuance	45,413	—
Stock-based compensation	543,068	414,900
Change in fair value of derivative liabilities	−7	—
Issuance of shares for note extension	80,500	—
Issuance of common stock for convertible debenture	122,331	—
Issuance of shares for financing expense	50,629	—
Accounts receivable	−211,207	−100,042
Inventories	106,092	−1,233
Prepaid expenses and other current assets	−347,887	27,329
Accounts payable and accrued liabilities	−480,795	132,161
Other current liabilities	6,496	−5,493
Lease liabilities	−329,255	−261,015
Net cash (used in) provided by operating activities	−1	1,990
Purchase of property and equipment	−8,513	−1,881
Net cash used in investing activities:	−8,513	−1,881
Deferred offering costs	−2	−163,125
Proceeds from loans	489,324	301,500
Payments for payable for acquisition	−2	−255,002
Proceeds from debt facilities	99,733	180,662
Repayment of loans	−422,727	−6,931
Proceeds from issuance of preferred stock	8	—
Buyback of preferred stock	−180,330	—
Line of credit repayment	−123,859	−216,742
SBA loan repayment	−3,436	−3,264
Net cash provided by (used in) financing activities	4	−162,902
Increase (decrease) in cash	3	−162,793
Cash paid for interest	401,411	224,428
Recognition of derivative liability of preferred stock	13	—
Conversion of preferred stock resulting in a non-cash reduction of the derivative liability recorded to APIC	3	—
Fair value adjustment decreasing derivative liability	7	—
Change in Preferred Stock	115	—
Conversion of preferred stock	112	—
Deferred offering costs	−2	—
Declaration of preferred stock dividend recorded as an increase in accrued liabilities	78,873	—
Common stock issued for convertible note payable and accrued interest	122,331	—
Loan payable, related party	225,000	—

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