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MDXR on OTC

MEDICAL EXERCISE INC.

MEDICAL EXERCISE INC. is an American health services company that raised $164,000 in 2025 (SEC Form D).1 It is headquartered in North Palm Beach, Florida.1 Its shares trade on OTC under the symbol MDXR.1

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Last updated Oct 21, 2026.

Overview

-$226.7KNet income, fiscal 20262

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  • TickerMDXR on OTC1
  • IndustryServices-Health Services1
  • HeadquartersNorth Palm Beach, Florida1
  • Incorporated inFL3
  • Business address11951 Us-1 Ste 105, North Palm Beach, Fl 334083
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
  • Legal formCorporation

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OnCore replaces these metrics with a tech-driven diagnostic protocol that monitors and tracks each client's internal biological progression.4 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 2025

65.6%Gross margin2
-25608.5%Operating margin2
-25578.4%Net margin2
-$194.9KFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue0¢$445
  • Selling, general and admin100¢$176.3K

Out of $1.3K in revenue.25 The company lost money this year.

Financial statements

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

Period ending2026-03-312025-03-31
Revenues$1.3K
Cost of revenues$445
Operating profit$849
Compensation expense$20.0K$133.6K
Advertising$1.2K$7.1K
Depreciation and amortization$8.7K$11.5K
Impairment of property and equipment$3.8K
Selling, general and administrative expenses$192.4K$176.3K
Total operating expenses$222.4K$332.2K
Loss from operations-$222.4K-$331.4K
Gain (loss) on sale of property and equipment-$1.8K$389
Gain (loss) on disposal of intangible assets-$2.5K
Total other income, net-$4.3K$389
Net loss before income taxes-$226.7K-$331.0K
Net loss-$226.7K-$331.0K
Basic (in Dollars per share)-$0.02-$0.03
Diluted (in Dollars per share)-$0.02-$0.03
Basic (in Shares)12.6M shares12.2M shares
Diluted (in Shares)12.6M shares12.2M shares

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Corporate structure

MEDICAL EXERCISE INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of MEDICAL EXERCISE INC.

  • MEDICAL EXERCISE INC. North Palm Beach, Florida

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What MEDICAL EXERCISE 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
Accumulated depreciation$4.1K2 Mar 31, 2026$9.5K2 Mar 31, 2025−57.0%
Property and equipment, net$15.9K2 Mar 31, 2026$59.9K2 Mar 31, 2025−73.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$43.4K2 Mar 31, 2026$4502 Mar 31, 2025+9555.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$2.4K2 Mar 31, 2026$7.1K2 Mar 31, 2025−66.6%
Accumulated amortization$4002 Mar 31, 2026$2.2K2 Mar 31, 2025−81.5%
Finite-lived intangibles, net$2.0K2 Mar 31, 2026$4.9K2 Mar 31, 2025−60.1%

Properties, in its own words

We do not own any real estate or other properties. The Company’s principal executive offices are located at 4057 Albert Street, Regina, Saskatchewan, Canada, S4S 3R8 and our registered office is located at 7901 4th St N, Suite 300, St. Petersburg, Florida, 33702. Our telephone number is (561) 772-3853.

Item 2 of the 10-K filed Jun 29, 2026.4

Leadership

Who has led MEDICAL EXERCISE INC., and when. Pick a name to see everywhere that person has worked.

President

  1. Matthew John Degelman2025–now
Board members and other officers (3)

Former names

  • MEDX BACK PAIN CLINICS INC.Nov 16, 2023 to Nov 16, 20233

Timeline

  1. May 8, 20268-K Entered a material agreement; Regulation FD disclosure11
  2. May 8, 20268-K Entered a material agreement; Regulation FD disclosure12

Filings

35 filings to the SEC since October 2021: 2 annual reports, 4 quarterly reports, 2 major events, 3 insider forms, 1 large holders, 5 private raises, 18 other. The latest 20:

  1. Aug 19, 202610-Q QUARTERLY REPORT EDGAR
  2. Aug 14, 2026NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  3. Jun 29, 202610-K ANNUAL REPORT EDGAR
  4. May 19, 2026D EDGAR
  5. May 18, 2026D/A EDGAR
  6. May 15, 2026D/A EDGAR
  7. May 8, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
  8. May 8, 20268-K CURRENT REPORT EDGAR
  9. Feb 27, 2026D EDGAR
  10. Feb 13, 202610-Q QUARTERLY REPORT EDGAR
  11. Feb 5, 2026SCHEDULE 13G EDGAR
  12. Dec 22, 20253 EDGAR
  13. Dec 15, 202510-Q QUARTERLY REPORT EDGAR
  14. Nov 17, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  15. Aug 19, 202510-Q QUARTERLY REPORT EDGAR
  16. Aug 14, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  17. Aug 12, 20253 EDGAR
  18. Jul 14, 202510-K ANNUAL REPORT EDGAR
  19. Jun 27, 2025NT 10-K NOTIFICATION OF LATE FILING EDGAR
  20. May 16, 20253 EDGAR

The 35 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.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$163.7K 2023–2025
Money received by yearMoney received by year, 2023–2025: $163.7K in all. Private raises (Form D) $163.7K.$0$50K$100K$150K2023 · Private raises (Form D): $53.2K202320242025 · Private raises (Form D): $110.5K2025
Figures by year
YearPrivate raises (Form D)Total
2025$110.5K$110.5K
2023$53.2K$53.2K

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. May 2, 2025Raised $110,500 in a private offering of equity14 Form D: $1 million offered in all Form D
  2. Nov 11, 2023Raised $52,200 in a private offering of equity15 Form D: $100,000 offered in all Form D
  3. Nov 6, 2023Raised $1,000 in a private offering of equity16 Form D: $100,000 offered in all Form D

SEC filer profile

How MEDICAL EXERCISE INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMEDICAL EXERCISE INC.1
  • CIK0002001249
  • Employer ID (EIN)93-35724564
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inFlorida4
  • Fiscal year endsMarch 311
  • Industry code (SIC)8000 Services-Health Services1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address11951 Us-1 Ste 105, North Palm Beach, FL 334081
  • Phone306 331 04401
  • Shares outstanding13,327,000 as of Aug 19, 20266
  • Public float$0 as of Sep 30, 20252
  • AuditorSalberg & Company, P.A., Boca Raton, Florida PCAOB ID 106; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceNov 16, 20231
  • Filings35 in all: 10-Q (4), CORRESP (4), 3 (3), D (3), NT 10-Q (3), S-1/A (3), UPLOAD (3), 10-K (2)1
    All 17 form types

    D/A (2), 424B4 (1), 8-A12G (1), 8-K (1), 8-K/A (1), EFFECT (1), NT 10-K (1), S-1 (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Jun 29, 2026
    Quarterly report (10-Q) Aug 19, 2026
    Latest 8-K (8-K) May 8, 2026

Risk factors and legal proceedings

The risks MEDICAL EXERCISE INC. names in Item 1A of its 10-K filed Jun 29, 2026: 35 risks under these headings, as written.4

  • Risks Related to Our Business
  • We have a limited operating history under our restructured asset-light franchise model, which makes it difficult to evaluate our forward performance and increases the risk of your investment.
  • We have a history of net losses and can give no assurance that we will achieve or sustain corporate profitability under our rebranded OnCore Longevity platform.
  • We are substantially dependent on our Area Development Managers (ADAs) to build out designated North American territories and recruit qualified sub-franchisees.
  • Our future growth depends almost entirely on our ability to identify, attract, and retain experienced personal trainers as successful local franchise owner-operators.
  • We face intense competition from boutique fitness chains, emerging longevity centers, medical anti-aging clinics, and direct-to-consumer health and nutrition software applications.
  • We may require additional capital to fund our corporate infrastructure, technology development, and international brand marketing, which capital may not be available on favorable terms, or at all.
  • Our business strategy relies on a strict private-pay, cash-based consumer subscription framework, and any shift in consumer willingness to pay out-of-pocket for health span optimization could materially harm our revenue.
  • We rely completely on third-party technology providers and infrastructure - specifically EGYM smart circuits and Google Gemini AI systems - and any technical disruption, pricing adjustments, or termination of these integrations would severely cripple our operations.
  • We collect, store, and process sensitive client biometric and physical metrics, exposing us to stringent, rapidly evolving data privacy laws and potential cybersecurity liabilities.
  • Our multi-state and cross-border expansion into Canada exposes the Company to highly complex, variable, and strictly enforced federal, state, and provincial franchise disclosure and relationship laws.
  • Our success is significantly dependent on the continuous service and performance of our executive officers, core management team, and key developers, the loss of whom could disrupt corporate scaling.
The other 24 risks
  • Our Directors, Officers, and Principal Shareholders control a majority of our common stock, which will severely limit independent investors' ability to influence corporate governance or matters requiring shareholder approval.
  • We retain the authority to issue additional common and preferred shares, which may cause immediate or future dilution to the purchasers of our common stock on the OTCQB market.
  • We operate a lean corporate infrastructure and do not maintain extensive insurance or asset reserves to cover unexpected operational liabilities, legal rescission demands, or uninsured network losses.
  • Risks Related to the Industry
  • The premium longevity, health span extension, and preventative wellness industry is highly fragmented, early-stage, and subject to volatile shifts in consumer perception.
  • The preventative health and physical conditioning markets are heavily susceptible to macroeconomic contractions, inflation, and unpredictable shifts in consumer discretionary spending.
  • We operate in an intensely competitive landscape across multiple wellness sectors, and the rapid rise of low-barrier digital health options could diminish our market share.
  • The rapid evolution and consumer adoption of metabolic weight-loss pharmaceuticals and GLP-1 therapies could radically disrupt traditional fitness and lifestyle spending priorities.
  • The health span and wellness industry is facing a highly aggressive, rapidly expanding wave of state, federal, and provincial data privacy legislation targeting consumer biometric and physical tracking metrics.
  • The deployment of generative artificial intelligence and algorithmic models within consumer nutrition and wellness coaching is subject to intensifying, unproven regulatory oversight and liability.
  • Unfavorable publicity, unscientific industry claims, or high-profile safety incidents regarding high-intensity strength training or automated resistance circuits could damage our brand reputation.
  • The preventative wellness industry operates under continuous exposure to evolving occupational licensing, personal training certifications, and non-medical health designation regulations.
  • Risks Associated with Our Common Stock
  • There is no active trading market for our common stock and if a market for our common stock does not develop, our investors will be unable to sell their shares.
  • Because we do not intend to pay any dividends on our common shares, investors seeking dividend income or liquidity should not purchase shares in this offering.
  • Trading of our stock may be restricted by the SEC’s penny stock regulations which may limit the development of a liquid public market for our stock and may limit a stockholder’s ability to buy and sell our stock.
  • FINRA Rule 2111 suitability requirements may also limit a stockholder’s ability to buy and sell our stock.
  • Legal and Regulatory Risks
  • We are subject to laws of the United States and foreign jurisdictions relating to individually identifiable information and personal health information, and failure to comply with those laws, whether or not inadvertent, could subject us to legal actions and could materially adversely affect our business, financial condition and results of operations.
  • Trademark infringement, patent infringement or other intellectual property claims relating to our products could increase our costs.
  • We could be subject to periodic litigation, product liability risk and other regulatory proceedings, which could result in unexpected expense of time and resources.
  • Our business is exposed to potential false advertising and other related claims, which could adversely affect our financial condition and performance.
  • Government regulatory actions could disrupt our marketing efforts and product sales.
  • Failure or inability to protect our intellectual property could significantly harm our competitive position.
  • Risks Related to Our Financial Condition
  • There is substantial doubt about our ability to continue as a going concern.
  • We are a development stage company. the company anticipates operating expenses will increase, and we may never achieve profitability.
  • Failure to raise additional capital to fund future operations could harm our business and results of operations.

Legal proceedings

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our Directors, Officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

The opening of Item 3, Legal Proceedings.4

Sources

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