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FUNI on OTC

Hypha Labs, Inc.

Hypha Labs, Inc. is an American testing laboratories services company, incorporated in Nevada.1 It is headquartered in Las Vegas, Nevada.1 Its shares trade on OTC under the symbol FUNI.1

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Last updated Oct 21, 2026.

Overview

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  • TickerFUNI on OTC1
  • IndustryServices-Testing Laboratories1
  • HeadquartersLas Vegas, Nevada1
  • Incorporated inNV2
  • Business address5940 S. Rainbow Boulevard, Las Vegas, Nv 891182
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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February 20, 2024, we completed the sale of the net assets of our wholly owned subsidiary Digipath Labs, Inc. (“Digipath Labs”).3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

39.5%Gross margin4
-42.6%Operating margin5
-76.2%Net margin5
7.8%Revenue growth, 20224
-$202.5KFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Cost of revenue61¢$1.6M
  • Other costs30¢$821.4K
  • Interest9¢$244.6K

Out of $2.7M in revenue.45 The company lost money this year.

Financial statements

Revenue674$2.7M in 2022+6% since 2019
0$1.0M$2.0M$3.0M2019: $2.6M$2.6M20192020: $2.6M$2.6M2020+1%2021: $2.5M$2.5M2021−3%2022: $2.7M$2.7M2022+8%
Gross profit674$1.1M in 2022+27% since 2019
0$500.0K$1.0M$1.5M2019: $839.8K$839.8K20192020: $795.8K$795.8K2020−5%2021: $715.2K$715.2K2021−10%2022: $1.1M$1.1M2022+49%
Operating income6745-$1.2M in 2022−38% since 2019
-$3.0M-$2.0M-$1.0M02019: -$1.8M-$1.8M20192020: -$2.2M-$2.2M2020+19%2021: -$772.4K-$772.4K2021−65%2022: -$1.2M-$1.2M2022+49%
Net income6745-$2.1M in 2022+14% since 2019
-$3.0M-$2.0M-$1.0M02019: -$1.8M-$1.8M20192020: -$2.3M-$2.3M2020+28%2021: -$686.5K-$686.5K2021−70%2022: -$2.1M-$2.1M2022+200%

Every line of the income statement as filed: the last 2 fiscal years, latest first.10

Period ending2025-09-302024-09-30
General and administrative$1.4M$943.7K
Professional fees$1.6M$883.3K
Total operating expenses$3.0M$1.8M
Operating loss-$3.0M-$1.8M
Interest expense-$106.1K-$201.8K
Other income (expense)-$20.0K$13.9K
Recovery of previously written off receivables$58.0K$66.0K
Loss on extinguishment of debt-$32.3K-$956.5K
Gain on sale of subsidiary assets$1.5M
Total other income (expense)-$100.5K$470.6K
Net loss from continuing operations before income taxes-$3.1M-$1.4M
Income tax expense-$14.2K
Net loss from continuing operations-$3.1M-$1.4M
Net income from discontinued operations$585.2K
Net income (loss)-$3.1M-$785.4K
Net loss per share from continuing operations - basic-$0-$0
Net loss per share from continuing operations - fully diluted-$0-$0
Net income per share from discontinued operations - basic$0
Net income per share from discontinued operations - fully diluted$0
Net loss per share basic-$0.02-$0.01
Net loss per share fully diluted-$0.02-$0.01
Weighted average number of common shares outstanding - basic135.1M shares101.3M shares
Weighted average number of common shares outstanding - fully diluted135.1M shares101.3M shares

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What it owns

What Hypha Labs, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$74.4K10 Sep 30, 2025$27.7K10 Sep 30, 2024+168.9%
Accumulated depreciation$11.9K10 Sep 30, 2025$1.0K10 Sep 30, 2024+1034.2%
Property and equipment, net$62.5K10 Sep 30, 2025$26.6K10 Sep 30, 2024+134.9%
Operating-lease assets (leased space)$26.2K10 Sep 30, 2025$57.0K10 Sep 30, 2024−54.1%

Properties, in its own words

Our principal executive offices are located at 5940 S. Rainbow Boulevard, Las Vegas, Nevada 89118, Telephone No.: (702) 527-2060.

We believe that our current facilities are adequate for our current needs. We intend to secure new facilities or expand existing facilities as necessary to support future growth. We believe that suitable additional space will be available on commercially reasonable terms as needed to accommodate our operations.

Item 2 of the 10-K filed Jan 15, 2026.3

Leadership

Who has led Hypha Labs, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Barbee Denny Barbee2014
  2. Joseph J. Bianco2016–2018
  3. Todd Denkin2018–2019
  4. Kyle Remenda2019–2020
  5. A. Stone Douglass2024

Chair

  1. A. Stone Douglass2021–2024

President

  1. Todd Denkin2014–2021
  2. A. Stone Douglass2024

Chief financial officer

  1. Eric Stoppenhagen2014
  2. Todd A. Peterson2015–2021
  3. Alfredo Axtmayer2017
  4. A. Stone Douglass2021–2024

Chief operating officer

  1. Todd Denkin2016–2018
201520202025
Board members and other officers (11)

Former names

  • Digipath, Inc.Nov 21, 2018 to Mar 1, 20242
  • DigiPath,Inc.Jan 12, 2011 to Sep 18, 20182

Timeline

  1. Jan 30, 20268-K Change of auditor32
  2. Jan 24, 20258-K Entered a material agreement; Executive or director change; Code of ethics changed33
  3. Jan 16, 20258-K Bylaws or fiscal year changed34
  4. Dec 16, 20248-K Entered a material agreement; Unregistered sale of shares; Shareholder vote35
  5. Dec 2, 2024New chief executive A. Stone Douglass becomes CEO12
  6. Apr 15, 20248-K Bylaws or fiscal year changed36
  7. Mar 1, 20248-K Executive or director change37
  8. Feb 23, 20248-K Completed an acquisition or sale38
  9. Oct 3, 20238-K Change of auditor39
  10. May 3, 20238-K Entered a material agreement; Executive or director change40
  11. Jul 26, 20228-K Entered a material agreement; Change to shareholders' rights; Bylaws or fiscal year changed41
  12. Mar 25, 20228-K Other events42
  13. Jan 6, 20228-K Entered a material agreement; Unregistered sale of shares; Change to shareholders' rights43
  14. Oct 3, 2019New chief executive Kyle Remenda becomes CEO13
  15. Jul 6, 2018New chief executive Todd Denkin becomes CEO14
  16. Jun 23, 2016New chief executive Joseph J. Bianco becomes CEO15
  17. Jun 2, 2014New chief executive Barbee Denny Barbee becomes CEO16

Filings

64 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 12 major events, 2 insider forms, 29 other. The latest 20:

  1. Aug 14, 202610-Q EDGAR
  2. May 15, 202610-Q EDGAR
  3. Feb 17, 202610-Q EDGAR
  4. Jan 30, 20268-K EDGAR
  5. Jan 15, 202610-K EDGAR
  6. Dec 30, 2025NT 10-K EDGAR
  7. Nov 6, 2025253G2 EDGAR
  8. Aug 21, 202510-Q EDGAR
  9. Aug 14, 2025NT 10-Q EDGAR
  10. Jul 1, 2025253G2 EDGAR
  11. Jun 30, 2025QUALIF EDGAR
  12. Jun 26, 2025CORRESP EDGAR
  13. Jun 26, 20251-A/A EDGAR
  14. Jun 16, 2025CORRESP EDGAR
  15. Jun 16, 20251-A/A EDGAR
  16. Jun 13, 202510-Q EDGAR
  17. May 15, 2025NT 10-Q EDGAR
  18. May 1, 2025UPLOAD EDGAR
  19. Apr 21, 2025CORRESP EDGAR
  20. Apr 21, 20251-A/A EDGAR

The 64 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How Hypha Labs, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHypha Labs, Inc.1
  • CIK0001502966
  • Employer ID (EIN)27-36019793
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company3
  • Incorporated innevada3
  • Fiscal year endsSeptember 301
  • Industry code (SIC)8734 Services-Testing Laboratories1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address5940 S. Rainbow Boulevard, Las Vegas, NV 891181
  • Phone(702) 744-06401
  • Shares outstanding163,895,977 as of Aug 14, 20269
  • Public float$3.1M as of Mar 31, 20253
  • AuditorFruci & Associates II, PLLC, Spokane, Washington PCAOB ID 5525; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJan 12, 20111
  • Filings297 in all: 8-K (69), 4 (58), 10-Q (48), 10-K (15), 3 (15), UPLOAD (14), CORRESP (12), D (9)1
    All 31 form types

    NT 10-K (9), NT 10-Q (8), 10-12G/A (6), SC 13D (5), 1-A/A (3), 1-A (2), 10-Q/A (2), 253G2 (2), 4/A (2), DEF 14C (2), PRE 14C (2), S-8 (2), SC 13D/A (2), 1-A-W (1), 10-12G (1), 10-K/A (1), 5 (1), 8-K/A (1), DEF 14A (1), PRE 14A (1), PRER14C (1), QUALIF (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Jan 15, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Apr 15, 2019
    Latest 8-K (8-K) Jan 30, 2026

Risk factors and legal proceedings

The risks Hypha Labs, Inc. names in Item 1A of its 10-K filed Jan 15, 2026: 31 risks under these headings, as written.3

  • Risks Related To Our Businesses
  • Our auditor has expressed substantial doubt about our ability to continue as a going concern. We may be unable to obtain additional capital required to implement our business plan.
  • Our limited operating history in our current business makes it difficult to evaluate our current business and future prospects and the risk of your investment.
  • We will require substantial additional financing to achieve our goals, and a failure to obtain this necessary capital when needed could force us to delay, limit, reduce or terminate our product development or commercialization efforts.
  • We will initially be dependent on a limited number of customers, and any significant decline in business from one or more of our customers could adversely affect our operating results.
  • Our business model and growth strategy depend on our marketing efforts and ability to introduce our products, maintain our brand and attract customers to our platform in a cost-effective manner.
  • Our success depends in part on our ability to increase our net revenue per active customer. If our efforts to increase customer loyalty and repeat purchasing as well as maintain high levels of customer engagement are not successful, our growth prospects and revenue will be materially adversely affected.
  • The Company may not be successful in developing the Hypha Micropearl accelerator and introducing any new and improved models of the device.
  • Product recalls or lawsuits relating to defective products could have an adverse effect on the Company, as could the imposition of industry sustainability standards.
  • Macroeconomic trends including inflation and rising interest rates may adversely affect our financial condition and results of operations.
  • Our business is dependent on general economic conditions and consumer discretionary spending, and reductions in such spending might adversely affect the Company’s business, operations, liquidity, financial results and stock price.
  • If we fail to manage our growth effectively, we may experience difficulties in expanding our operations and service offerings and our business, financial condition and operating results could be harmed.
The other 20 risks
  • Our success depends, in substantial part, on our ability to market our products through search engines and social media platforms.
  • Our internal information technology systems may fail or suffer security breaches, loss or leakage of data, and other disruptions, which could disrupt our business or result in the loss of critical and confidential information.
  • If we fail to maintain adequate cybersecurity with respect to our systems and ensure that our third-party service providers do the same with respect to their systems, our business may be harmed.
  • We may choose to rely upon manufacturers based in outside the United States, including China, and their operations are subject to risks associated with business operations in those countries as well as trade policies of the U.S. government. Any disruption in the ability of these manufacturers to supply us with our products on a timely basis could have a material adverse effect on our business, results of operations or financial condition.
  • We will depend on our relationships with a variety of regional and national carriers, and changes in our relationships with these parties could adversely affect our revenue and profits.
  • We may rely on a limited number of suppliers, or in some cases, a single supplier, for some of the components of our Hypha Micropearl accelerator, such as the cartridges, and may not be able to find replacements or immediately transition to alternative suppliers
  • We may be unable to develop, optimize, operate and manage our fulfillment centers
  • Significant merchandise returns could harm our business.
  • We are subject to risks related to online payment methods.
  • Our plans are dependent upon key individuals and the ability to attract qualified personnel.
  • If the market for our products does not develop or become sustainable, or becomes saturated, our revenues may fail to materialize, and our financial condition and results of operations could be materially impaired.
  • We compete against various companies engaged in the mushroom industry, some of which have greater brand recognition, longer operating histories and greater financial resources.
  • Risks Relating to Intellectual Property
  • If we are unable to protect our intellectual property rights, our business, competitive position, financial condition and results of operations could be materially and adversely affected.
  • If we are unable to protect our brand, including our trademarks, our business can be materially and adversely affected.
  • Risks Related To Our Common Stock
  • Our operating results may fluctuate causing volatility in our stock price.
  • Trading in our common stock has been limited, there is no significant trading market for our common stock, and purchasers of our common stock may be unable to sell their shares.
  • Applicable SEC rules governing the trading of “penny stocks” may limit the trading and liquidity of our common stock which may affect the trading price our common stock.
  • We have outstanding shares of preferred stock with rights and preferences superior to those of our Series D Preferred Stock and common stock.
  • We have outstanding shares of Series C Preferred Stock held by our sole executive officer that will enable him to control a majority of the total voting power of the Company.
  • We have not paid dividends in the past and do not expect to pay dividends in the future. Any return on investment may be limited to the value of our common stock.

Legal proceedings

There are no material pending legal proceedings to which we are a party or to which any of our property is subject, nor are there any such proceedings known to be contemplated by governmental authorities. None of our directors, officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.

The opening of Item 3, Legal Proceedings.3

Sources

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    SEC EDGAROther events
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