MWAI on OTC
MedWellAI, Inc.
American finance services company, incorporated in Nevada, listed on OTC (MWAI)1
In its 2026 annual report the company says: “We are a publicly traded company (OTCQB: MWAI), based in Clearwater, Florida, that is focused on earning commissions through the use of a fully automated e-commerce platform that connects in-office buyers with multiple FDA-registered 503B pharmacies, offering GLP-1 weight management therapies, peptides and other compounds.”4
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Last updated Oct 21, 2026.
Overview
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- TickerMWAI on OTC1
- IndustryFinance Services1
- HeadquartersClearwater, Florida1
- Incorporated inNV3
- Business address2380 Drew Street, Suite 3, Clearwater, Fl 337653
- Filer categoryNon-accelerated filer, Smaller reporting company3
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We were incorporated in the State of Nevada on March 22, 2011 under the name Lightcollar, Inc. In March 2015, we changed our name to EMS Find, Inc. On May 30, 2017, Integrated Ventures, Inc. (“Integrated Ventures”), a Nevada corporation, was formed as a wholly owned subsidiary of the Company. Pursuant to an Agreement and Plan of Merger dated May 30, 2017, Integrated Ventures was merged into the Company, with the Company being the surviving corporation and changing its name to Integrated Ventures, Inc. In July 2024, the Company formed three wholly-owned subsidiaries, MedWell Direct, LLC (“MedWell Direct”), MedWell Facilities, LLC (“MedWell Facilities”), and MedWell USA, LLC (“MedWell USA), all of which were organized in the State of Nevada. In June 2025, we changed our name to MedWellAI, Inc.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 2026
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Other costs90¢$475.5K
- Interest10¢$52.3K
Out of $527.9K in revenue.2 The company lost money this year.
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $279.1K5 | $454.2K6 | $1.9M7 | $6.6M8 | $3.9M9 | $010 | $594.8K2 | $527.9K2 |
| Cost of revenue | $1.0M5 | $996.4K6 | $920.4K7 | $3.9M8 | $2.7M9 | $3.9M9 | ||
| Gross profit | -$726.3K5 | -$542.2K6 | $931.0K7 | $2.7M8 | -$2.4M8 | |||
| Research and development | ||||||||
| Operating expenses | $3.4M8 | $22.7M8 | ||||||
| Operating income | -$4.6M5 | -$1.0M6 | -$21.7M7 | -$688.0K8 | -$25.2M9 | -$9.1M10 | -$2.8M2 | -$1.2M2 |
| Interest | $214.4K5 | $655.2K6 | $436.0K7 | $18.3K8 | $276.9K9 | $83.0K10 | $52.2K10 | $52.3K2 |
| Income before tax | -$565.5K8 | -$25.5M9 | -$9.2M10 | -$2.9M2 | -$1.5M2 | |||
| Income tax | $05 | $06 | $07 | $08 | $09 | $010 | $02 | $02 |
| Net income | -$9.5M5 | -$1.1M6 | -$22.4M7 | -$565.5K8 | -$25.5M9 | -$11.5M10 | -$3.6M2 | -$1.6M2 |
| Earnings per share | -$0.167 | -$0.017 | -$11.989 | -$2.729 | ||||
| Earnings per share (diluted) | -$11.989 | -$2.729 | ||||||
| Shares (weighted, basic) | 204.7M shares7 | 2.2M shares9 | 4.4M shares9 | |||||
| Shares (weighted, diluted) | 2.2M shares9 | 4.4M shares9 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash | $48.3K6 | $102.4K13 | $687.3K13 | $490.3K8 | $258.0K9 | $57.8K9 | $401.3K2 | $86.2K2 |
| Receivables | $9.1K2 | |||||||
| Current assets | $79.5K5 | $9.9K6 | $748.3K13 | $492.8K8 | $712.6K9 | $2.6M10 | $418.8K2 | $111.9K2 |
| Property, plant and equipment | $13.3M8 | $5.3M9 | $010 | $42.1K2 | $8902 | |||
| Goodwill | $670.0K2 | |||||||
| Intangible assets | $010 | $51.4K2 | $27.7K2 | |||||
| Total assets | $1.1M5 | $546.8K6 | $14.7M13 | $16.3M8 | $6.6M9 | $3.9M10 | $805.5K2 | $140.4K2 |
| Accounts payable | $56.0K8 | $293.7K9 | $132.1K10 | $123.6K2 | $137.9K2 | |||
| Current liabilities | $2.2M5 | $656.4K6 | $413.9K13 | $1.6M8 | $3.0M9 | $3.7M10 | $3.1M2 | $8.0M2 |
| Total liabilities | $2.2M5 | $656.4K6 | $413.9K13 | $3.7M10 | $3.1M2 | $8.0M2 | ||
| Retained earnings | -$46.2M8 | -$73.1M9 | -$85.1M10 | -$88.7M2 | -$90.3M2 | |||
| Shareholders’ equity | -$1.1M6 | -$252.2K13 | $10.2M13 | $10.6M9 | -$509.9K9 | -$3.9M10 | -$6.6M2 | -$8.0M2 |
| Shares outstanding | 39.1M shares14 | 116.5M shares5 | 205.0M shares13 | 246.8M shares7 | 4.0M shares8 | 5.2M shares9 | 6.2M shares10 | 6.5M shares2 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -$708.0K5 | -$671.1K6 | -$1.6M7 | $55.5K8 | -$3.4M9 | -$4.1M10 | -$848.5K2 | -$307.0K2 |
| Depreciation and amortization | $1.6M8 | $3.6M9 | $010 | $31.9K2 | $34.0K2 | |||
| Stock-based compensation | $2.4M8 | $15.2M9 | $010 | $599.5K2 | $223.0K2 | |||
| Capital spending | -$42.4K5 | $123.3K6 | $3.3M7 | $73.6K8 | $09 | $010 | $2.2K2 | $02 |
| Free cash flow | -$750.5K | -$794.5K | -$4.9M | -$18.1K | -$3.4M | -$4.1M | -$850.8K | -$307.0K |
| Cash from investing | -$2.3M8 | $3.2M9 | $4.2M10 | $1.2M2 | -$8.1K2 | |||
| Cash from financing | $604.9K8 | -$50.0K9 | -$243.2K10 | $02 | $02 |
Corporate structure
MedWellAI, 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 MedWellAI, Inc.
- CVI Investments, Inc. Filed SC 13G/A on MedWellAI, Inc., latest Feb 14, 2022
- SABBY MANAGEMENT, LLC Filed SC 13G/A on MedWellAI, Inc., latest Jan 4, 2022
- MedWellAI, Inc. Clearwater, Florida
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What MedWellAI, 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Furniture and fixtures | $2.2K2 Jun 30, 2026 | $2.2K2 Jun 30, 2025 | 0% |
| Leasehold improvements | $10.0K2 Jun 30, 2026 | $40.9K2 Jun 30, 2025 | −75.6% |
| Property and equipment, before depreciation | $12.2K2 Jun 30, 2026 | $43.1K2 Jun 30, 2025 | −71.7% |
| Accumulated depreciation | $11.3K2 Jun 30, 2026 | $1.1K2 Jun 30, 2025 | +970.9% |
| Property and equipment, net | $8902 Jun 30, 2026 | $42.1K2 Jun 30, 2025 | −97.9% |
| Operating-lease assets (leased space) | $02 Jun 30, 2026 | $95.5K2 Jun 30, 2025 | −100.0% |
Real estate and locations
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $670.0K2 Jun 30, 2026 | $4.2M15 Jun 30, 2018 | −83.9% |
| Intangible assets, net (excluding goodwill) | $27.7K2 Jun 30, 2026 | $51.4K2 Jun 30, 2025 | −46.2% |
| Finite-lived intangibles, net | $51.4K10 Jun 30, 2025 | $010 Jun 30, 2024 |
Properties, in its own words
Our corporate offices are located at 2380 Drew Street, Suite 3, Clearwater, Florida 33765. Our telephone number is (813) 384-8480.
Item 2 of the 10-K filed Oct 13, 2026.4
Leadership
Who has led MedWellAI, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
- Chief executive officerSteve Rubakh Apr 29, 2016 to now16
Board members and other officers (3)
- Board memberSteve Rubakh Apr 29, 2016 to now16
- Board memberDaniel Grillo Oct 5, 2015 to Oct 5, 201517
- Board memberJohnny Falcones Nov 12, 2015 to Nov 12, 201518
Former names
Timeline
- Apr 17, 20268-K Bylaws or fiscal year changed19
- Aug 7, 20258-K Change to shareholders' rights; Bylaws or fiscal year changed; Other events20
- Jun 24, 20258-K Bylaws or fiscal year changed; Other events21
- Nov 20, 20248-K Executive or director change22
- Sep 3, 20248-K Entered a material agreement; Completed an acquisition or sale23
- Apr 21, 20238-K Bylaws or fiscal year changed; Other events24
- Sep 16, 20228-K Entered a material agreement25
- Jul 6, 20228-K Entered a material agreement; Other events26
- Apr 29, 2016New chief executive Steve Rubakh becomes CEO16
Filings
49 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 8 major events, 2 insider forms, 2 large holders, 16 other. The latest 20:
- Oct 13, 202610-K EDGAR
- Sep 28, 2026NT 10-K EDGAR
- Jun 18, 20265 EDGAR
- May 5, 202610-Q EDGAR
- Apr 17, 20268-K EDGAR
- Feb 23, 202610-Q EDGAR
- Feb 18, 2026NT 10-Q EDGAR
- Nov 14, 202510-Q EDGAR
- Sep 30, 202510-K EDGAR
- Sep 30, 2025NT 10-K EDGAR
- Aug 7, 20258-K EDGAR
- Jun 24, 20258-K EDGAR
- May 16, 202510-Q EDGAR
- May 15, 2025NT 10-Q EDGAR
- Feb 14, 202510-Q EDGAR
- Feb 14, 2025UPLOAD EDGAR
- Feb 13, 2025CORRESP EDGAR
- Nov 20, 2024S-8 EDGAR
- Nov 20, 20248-K EDGAR
- Nov 15, 202410-Q EDGAR
The 49 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.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 1, 2025 | Rubakh SteveCEO | Buy | 461,250 | $0.61 | $281.4K | Form 4 |
| Aug 28, 2023 | Rubakh SteveCEO | Buy | 10,000 | $1.61 | $16.1K | Form 4 |
From Forms 4 filed with the SEC.
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.
- CVI Investments, Inc.SC 13G/A, 1 filing Feb 14, 202227
- SABBY MANAGEMENT, LLCSC 13G/A, 1 filing Jan 4, 202228
SEC filer profile
How MedWellAI, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARMedWellAI, Inc.1
- CIK0001520118
- Employer ID (EIN)82-17253854
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inNevada4
- Fiscal year endsJune 301
- Industry code (SIC)6199 Finance Services1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address2380 Drew Street, Suite 3, Clearwater, FL 337651
- Phone813-358-44001
- Shares outstanding6,536,580 shares as of Oct 7, 20264
- Public float$1.6M as of Dec 31, 20254
- AuditorM&K CPAS, PLLC, Woodlands, TX PCAOB ID 27384
- On EDGAR sinceJun 7, 20111
- Filings226 in all: 8-K (53), 10-Q (44), 10-K (15), CORRESP (10), UPLOAD (10), 4 (9), 8-K/A (8), NT 10-Q (8)1
All 34 form types
NT 10-K (7), S-1/A (7), 5 (5), DEF 14C (5), SC 13G (5), EFFECT (4), PRE 14C (4), SC 13G/A (4), 10-Q/A (3), POS AM (3), 10-K/A (2), 144 (2), 3 (2), S-1 (2), S-3 (2), S-3/A (2), 10-KT (1), 424B3 (1), 424B5 (1), 424B8 (1), 5/A (1), 8-A12G (1), NT 10-Q/A (1), RW (1), S-8 (1), SC 13D (1)
- Latest filingsAnnual report (10-K) Oct 13, 2026
Quarterly report (10-Q) May 5, 2026
Latest 8-K (8-K) Apr 17, 2026
Risk factors and legal proceedings
The risks MedWellAI, Inc. names in Item 1A of its 10-K filed Oct 13, 2026: 20 risks under these headings, as written.4
- Risks Related to Our Business
- Because we are an early-stage company with minimal revenue and a history of losses and we expect to continue to incur substantial losses for the foreseeable future, we cannot assure you that we can or will be able to operate profitably.
- Changes in FDA regulation of compounded pharmaceuticals could adversely affect our supply of GLP-1 medications and harm our business.
- Our use of artificial intelligence (AI) or other emerging technologies could adversely impact our business and financial results.
- Natural disasters and geo-political events could adversely affect our business.
- Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights.
- We are increasingly dependent on information technology systems and infrastructure (cyber security).
- If we are unable to attract, train and retain technical and financial personnel, our business may be materially and adversely affected.
- We depend heavily on our chief executive officer, and his departure could harm our business.
- Our auditors’ report includes a going concern paragraph.
- We may not be able to respond quickly enough to changes in technology and technological risks, and to develop our intellectual property into commercially viable products.
- Risks Related to Our Securities
The other 10 risks
- Our lack of internal controls over financial reporting may affect the market for and price of our common stock.
- Our common stock is deemed to be “penny stock,” which may make it more difficult for investors to sell their shares due to disclosure and suitability requirements.
- FINRA sales practice requirements may limit a stockholder’s ability to buy and sell our stock.
- The market price for our common stock may be volatile and your investment in our common stock could suffer a decline in value.
- Raising funds by issuing equity or convertible debt securities could dilute the net tangible book value of the common stock and impose restrictions on our working capital.
- We may issue preferred stock whose terms could adversely affect the voting power or value of our common stock.
- Because certain existing stockholders own a large percentage of our voting stock, other stockholders’ voting power may be limited.
- We do not have a majority of independent directors on our board and the company has not voluntarily implemented various corporate governance measures, in the absence of which stockholders may have more limited protections against interested director transactions, conflicts of interest and similar matters.
- Our share price is volatile and may be influenced by numerous factors that are beyond our control.
- We have no current plans to pay dividends on our common stock and investors must look solely to stock appreciation for a return on their investment in us.
Legal proceedings
We are not aware of any pending legal proceedings in which we are a party or in which any of our directors, officers or affiliates, any owner of record or beneficiary of more than 5% of any class of our voting securities is a party adverse to us or has a material interest adverse to us.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARMedWellAI, Inc. filings on SEC EDGAR
- 2SEC EDGARMedWellAI, Inc. 10-K for fiscal 2026
- 3SEC EDGARMedWellAI, Inc. filings on SEC EDGAR
- 4
- 5SEC EDGARMedWellAI, Inc. 10-K for fiscal 2019
- 6SEC EDGARMedWellAI, Inc. 10-K for fiscal 2020
- 7SEC EDGARMedWellAI, Inc. 10-K for fiscal 2021
- 8SEC EDGARMedWellAI, Inc. 10-K for fiscal 2022
- 9SEC EDGARMedWellAI, Inc. 10-K for fiscal 2023
- 10SEC EDGARMedWellAI, Inc. 10-K for fiscal 2024
- 11SEC EDGARMedWellAI, Inc. 10-Q for fiscal 2025
- 12SEC EDGARMedWellAI, Inc. 10-Q for fiscal 2026
- 13SEC EDGARMedWellAI, Inc. 10-K for fiscal 2021
- 14SEC EDGARMedWellAI, Inc. 10-K for fiscal 2019
- 15SEC EDGARMedWellAI, Inc. 10-K for fiscal 2018
- 16
- 17SEC EDGARDaniel Grillo, Board member
- 18SEC EDGARJohnny Falcones, Board member
- 19SEC EDGARBylaws or fiscal year changed
- 20
- 21
- 22SEC EDGARExecutive or director change
- 23
- 24
- 25SEC EDGAREntered a material agreement
- 26
- 27
- 28