We have gone from the minimum net income from the beginning to earn businesses that it with investments have the potential to provide more than $ 20 million in profitable net income per year.
We discovered a shareholder deficit over $ 17 million on September 30, 2024 and then restructured a significant amount of debt to net capital in the fourth quarter to meet the continuous rules of the US NYSE that require more than $ 4 million in shareholder capital, an improvement over $ 21 million in shareholder capital. We continue to negotiate with debt holders and have recently discovered additional transactions of about $ 6 million further debt that have been converted to capital. Most of these transactions are completed by releasing convertible preferable shares that can not currently be transformed into the free trading of the usual stock of our class A.
Our business strategy for 2025 is to grow in our acquired rural hospital and behavioral health businesses and follow a strategy to earn our existing epigenetics division. We are also actively seeking and evaluating additional purchasing opportunities in the healthcare sector, including Senior Living, which we may or may not be able to meet.
We operate three businesses;
Epigigenetics: Foxo Lab’s, remains a pioneer in the detection and commercialization of the epigenetic biomarker. Our mission is to expand and strengthen human life through advanced prognostics, therapeutic solutions and lifestyle improvements. We have generated epigenetic data for over 13,000 individuals through internal research and external cooperation. This wide data base, paired with extensive phenotypic information, means that the company is well positioned for continuous innovation and business growth in the rapid evolutionary field of health care and longevity solutions. By combining the fields of artificial epigenetics and intelligence, the pioneer access of Foxo Labs sets a new standard for personalized health care. The company is now positioned to launch a direct prognostic to the consumer that will provide active information and guidelines to improve well -being and longevity.
We will continue to consider all options to create values for our shareholders from this business, which can include a rotation at a time in the future if it is applicable to do so. For more information about our technology, visit www.foxotechnologies.com
Myrtle recovery centers, INC, operates a 30 -bed behavior health structure in East Tennessee. It provides hospital services for detoxification and treatment of residential and outpatient services for treatment -assisted treatment programs (MAT) and hand -based opioid treatment (OBOT). The facility was opened in August 2023 and provided contracts within the network with different payments of insurance companies. We anticipate that the growth of this business will have a profitable annual net income of approximately $ 3-4 million and plan to repeat the service delivery model elsewhere. Recently, we have seen a significant increase in registration as marketing efforts have intensified and additional payer contracts have been executed. Further information can be found in www.myrtlecoverycenters.com
In the third quarter of 2024 we completed the purchase of the Scott District Community Hospital, Inc. (D/B/A Big South Fork Center), a certain critical approach (CAH) hospital located in East Tennessee. The hospital offers urgent services, outpatient services (including laboratory and radiological services) and hospital services. We are considering the options available for us to open additional hospital facilities elsewhere in East Tennessee. Further information can be found in www.bsfmedical.com
Foxo’s achievements in recent months have resulted in a significant turn and created a number of attractive opportunities for the company and its shareholders. We have challenges to overcome and objectives to reach 2025 and remain grateful for the continued support from our shareholders. My management team and I will try to deliver results and achievements that we can be proud of and enjoy.
sincerely
Seamus Lagan, CEO
About Foxo Technologies Inc. (“Foxo”)
Foxo owns and operates three affiliates.
Foxo Lab’s, Inc. It is a biotechnology company dedicated to improve human health and longevity through the development of higher technology and product solutions for various industries.
Myrtle recovery centers, INC, a 30 -bed health structure in East Tennessee. Myrtle offers detox hospital services and residential treatment and outpatient services for mat and obot programs.
Rennova Community Health, Inc., owns and operates Scott County Community Hospital Hospital, Inc. (D/B/A Big South Fork Medical), a certain critical approach (CAH) hospital in East Tennessee.
Future statements
This press release contains future statements. These statements have been made under the provisions of the “secure port” of the act of reform of the 1995 US Letter Letters Procedures. Statements that are not historical facts, including statements regarding Foxo’s beliefs and expectations, are future statements. Future statements include inherent risks and uncertainties, and a number of factors can cause current results to differ materially from those involved in any future statement. These factors include, but are not limited to the risk of changes in the competitive and highly regulated industries in which Foxo operates; changes in operating performance in competitors or changes to laws and regulations affecting Foxo’s business; the ability to implement Foxo’s business plans, forecasts and other expectations; ability to receive funding; The risk that Foxo has a history of losses and may not achieve or maintain future benefit; Foxo’s possible inability to establish or maintain the necessary relationship to advance his goals or to achieve commercialization and his development plans; The applicability of Foxo’s intellectual property, including its patents and possible violation of the intellectual property rights of others; and the risk of falling and a changing regulatory landscape in the highly competitive biotechnology industry or in markets or industries in which Foxo operates. The above list of factors is not exhaustive. Readers should carefully consider the above factors and other risks and uncertainties discussed in the latest Foxo reports for 10-K and 10-Q forms, especially the “risk factors” sections of those reports, and in Other Foxo documents have submitted, or will file, with Sec. These registrations identify and address other important risks and uncertainties that can cause current events and results to vary materially from those involved in future statements. Future statements only speak since the date they have been made. Readers have been warned not to believe unfair in future statements, and Foxo receives no obligation and does not intend to update or review these future statements, either as a result of new information, future events, or otherwise.
Contact:
Sebastien Sainsbury
ssasinsbury@foxotechnologies.com
(561) 485-0151