Auditor Raises Going Concern Doubt; Company Lacks Funds to Continue Operations and Product Development

summarizeSummary

Nu-Med Plus, Inc. faces severe financial distress, with its auditor raising going concern doubts and product development halted due to a critical lack of funding and reliance on insider loans.

check_boxKey Events

• Going Concern Warning Issued

  Both management and the independent registered public accounting firm have expressed substantial doubt about the company's ability to continue as a going concern due to accumulated losses, negative cash flows, and insufficient capital.

• Critical Liquidity Shortage

  As of December 31, 2025, the company had only $661 in cash and anticipates needing $1.25 million for planned expenditures in 2026, with no current commitments for additional capital. Funds on hand were projected to last only two months from year-end 2025.

• Product Development Suspended

  Development of the company's nitric oxide delivery devices has been suspended due to a lack of adequate funding, stalling its core business and potential for future revenue.

• Reliance on Related Party Loans

  The company is dependent on loans from its Chief Financial Officer and Chief Executive Officer to cover operating expenses, including $33,769 from the CFO and $12,500 from the CEO in 2025, and additional funds provided subsequent to year-end.

auto_awesomeAnalysis

Nu-Med Plus, Inc.'s annual report reveals a critical financial situation, with both management and the independent auditor expressing substantial doubt about the company's ability to continue as a going concern. The company has minimal cash reserves ($661 as of December 31, 2025) and no committed funding to meet its projected 2026 expenditures of $1.25 million. This severe liquidity crisis has led to the suspension of all product development activities, which are crucial for its medical device business model. The company is heavily reliant on short-term loans from its officers and directors to cover basic operating expenses, underscoring its precarious financial state. Investors face significant risk due to the company's inability to fund operations, stalled product pipeline, and material weaknesses in internal controls.