Company: HYEX
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001096906-25-000553
Chunk: 6

Company: HEALTHY EXTRACTS INC.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 6
---
 December 31, 2024 was $19,240,344, and we had limited cash resources at December 31, 2024 of $112,020. Our financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Our auditor’s report reflects that our ability to continue as a going concern is dependent upon our ability to raise additional capital from the sale of common stock or other means and, ultimately, the achievement of significant operating revenues. If we are unable to continue as a going concern, our business will fail and stockholders will lose their investment in our company. No assurance can be given that such financing will be available or, if available, that it will be on commercially favorable terms. Moreover, financing will likely be dilutive to our stockholders. Future Anticipated Growth Drivers New Sales Channels and Product Launches In order to drive continued sales growth and leverage our growing customer base, we are planning to expand our product portfolio to include supplements that support CoQ10, weight management, hydration and gut health (the balance between helpful and harmful bacteria and yeast in the digestive system). These health products are ready to be manufactured and made available in early 2025. We plan to further expand our sales channels as well as our portfolio of natural formulations for heart and brain health and other indications. Strategic Acquisitions The market for nutraceutical products is highly fragmented, which creates many acquisition opportunities. As part of our primary mission, we will continue to evaluate potential acquisition opportunities that could expand our product portfolio and benefit from our marketing strength and multi-channel distribution. Employees On the Healthy Extracts holding company level, our company’s two officers, Kevin “Duke” Pitts and Robert Madden, are each full-time. Our BergaMet subsidiary has two full-time employees. Our UBN subsidiary currently does not have its own employees since it uses outside contract help on an as-needed basis, with management provided by our officers. We anticipate all of our employees will continue to work for us for the foreseeable future. We plan to hire appropriate personnel on an as-needed basis and utilize the services of independent contractors as needed. Corporate History We were incorporated on December 19, 2014 in the State of Nevada. On February 4, 2019, we acquired BergaMet NA, LLC, a Delaware limited liability company (“BergaMet”). BergaMet is a wholly-owned subsidiary through which we conduct our nutraceuticals business. As