Jack Nathan Med Stock Price, News & Analysis

Jack Nathan Medical Corp. (TSXV: "JNH"; OTCQB: "JNHMF") announced that all matters voted at the annual general meeting on December 23, 2022, were approved by shareholders. All nominees for the board of directors were elected with strong support, receiving over 97% approval. Key resolutions included the reappointment of MNP LLP as auditors and amendments to the Omnibus Equity Incentive Plan, allowing grants of restricted stock units to executives. The company operates extensive healthcare networks in Canada and Mexico, enhancing patient access through clinics in Walmart locations.

Jack Nathan Medical Corp. (JNHMF) reported a 77% increase in Q3 fiscal 2023 revenues, totaling $4.2 million, compared to Q3 fiscal 2022. For the nine months ending October 31, 2022, revenues reached $11.8 million, marking a 110% growth year-over-year. Operating losses decreased from $1.5 million in Q2 to $0.9 million in Q3. Clinic operations generated 79% of revenues, reflecting successful acquisitions and reduced COVID-19 restrictions. As of October 31, 2022, JNH's cash position improved to $1.6 million, with total assets at $8.5 million and liabilities at $7.5 million.

Jack Nathan Medical Corp. (TSXV: JNH; OTCQB: JNHMF) has adjourned its annual and special meeting of shareholders (AGM) to December 23, 2022, at 1:30 p.m. Toronto time. The meeting will now be held in person at Dickinson Wright LLP, allowing shareholders to better comply with the Company’s advance notice by-law, which has extended the notice period to December 12, 2022. Jack Nathan Health operates as a significant healthcare network in Canada, providing convenient access to medical services within Walmart locations.

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) reported Q2 FY2023 revenues of $3.6 million, an 87% increase compared to Q2 FY2022. Clinic operations revenue surged 198%, driven by growth from recently acquired clinics. For the six months ended July 31, 2022, total revenues reached $7.5 million, reflecting a 135% increase. The company achieved a significant reduction in net loss before income taxes to (2.66 million) from (3.5 million) year-over-year. Operating expenses rose to $10.1 million due to expanded clinic operations.

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) has entered a loan agreement with Walmart Canada to establish a new revolving credit facility of up to CAD$2,000,000. The Loan, maturing within six months, will accrue interest at 7% per annum and is intended for the company's general working capital. Jack Nathan Health operates numerous clinics within Walmart stores across Canada and Mexico, providing accessible healthcare services.

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) announced the departure of CFO David Berman, effective September 19, 2022. The company appointed Spence Walker as interim CFO, bringing over 15 years of experience in advisory roles for emerging growth companies. Walker's expertise in financial strategy is expected to support JNH's growth objectives. Jack Nathan Health operates a significant healthcare network in Canada and Mexico, providing access to medical services through Walmart Canada locations.

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) reported significant growth in its Q1-Fiscal 2023 financial results, with total revenues increasing by 207% year-over-year to $3,893,322. The clinic operations revenue surged 632% to $3,145,191, attributed to recent acquisitions and easing pandemic restrictions. Despite a narrowed operating loss of $1,258,176, total operating expenses rose to $5,151,498. The company aims to expand its footprint with a new financing arrangement with Walmart Canada and plans to open up to 13 new clinics in 2022.

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) reported Q4 FY2022 revenues of $4.0 million, a significant increase of 461% from Q4 FY2021. For the fiscal year, total revenues reached $9.6 million, up 150% year-over-year. The Company acquired 5 profitable clinics in British Columbia, estimated to generate annual revenues of $5 million. However, operating expenses rose sharply to $5.99 million in Q4, leading to a loss from operations of $1.97 million. Despite challenges, the Company anticipates continued growth in 2022 through clinic expansion.

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) has announced a new Credit Facility and licensed locations aimed at expanding its network of medical clinics across Canada, particularly within Walmart Canada stores. The agreement will finance the construction of eleven new clinics slated for 2022, with plans for further expansion. This strategic partnership emphasizes the commitment to enhancing healthcare accessibility for millions of Canadians. Jack Nathan currently operates 76 clinics in Walmart, tapping into Walmart's extensive network of 402 stores.