Mitesco Inc Stock Price, News & Analysis

Mitesco (OTCQB: MITID) announced its plan for an uplist to Nasdaq, including a potential reverse stock split of up to 4:1 to meet listing requirements. The company is focusing on improving its subsidiary, The Good Clinic, which has high client satisfaction ratings but is not yet cash flow positive. Mitesco aims to adjust services and staffing to achieve profitability and is exploring partnerships with insurance providers for growth without relying heavily on public capital. The company is committed to operational efficiency amidst challenging equity markets.

Mitesco (OTCQB: MITI) is taking steps to support its upcoming Nasdaq uplist, including evaluating its subsidiary, The Good Clinic, for improved efficiency and reduced reliance on public capital. Despite high client ratings (4.9-5 out of 5), The Good Clinic is not cash flow positive. Mitesco plans service adjustments and potential joint ventures to achieve profitability. Additionally, the company has filed for shareholder approval for a reverse stock split of up to 4:1 to meet Nasdaq requirements.

Mitesco, Inc. (OTCQB: MITI) announced a 50:1 reverse stock split effective December 9, 2022, approved by shareholders. This move aims to enhance the company’s stock price in preparation for uplisting to the NASDAQ. Post-split, the company will have approximately 4.5 million shares outstanding, with authorized shares remaining at 500 million. CEO Larry Diamond emphasized aligning interests with shareholders and restructuring debt into equity to meet listing requirements. Additional amendments to bylaws support compliance with NASDAQ rules.

Mitesco, Inc. (OTCQB: MITI) received the "Blazer Award" in the health and wellness category at Minne Inno's 2022 Fire Awards. This award recognizes innovation, community impact, and growth, with Mitesco's The Good Clinic being praised for enhancing healthcare quality and accessibility. Within 12 months, The Good Clinic expanded from one to six locations, demonstrating strong community support. CEO Larry Diamond emphasized the unique model prioritizing whole-person care and convenience, confirming the company's commitment to improving client healthcare experiences.

Mitesco, Inc. (OTCQB: MITI) has appointed Tom Brodmerkel as CFO, effective immediately. Brodmerkel has an extensive background in financial management, having served as Chair of the Board since April 2020 and involved with the company since 2020. He replaces Phillip Keller, who resigned on June 12, 2022, for personal reasons. Keller will assist in the transition as a consultant. CEO Larry Diamond emphasized Brodmerkel's experience supporting the company's financial reporting and strategic plans, including the upcoming Nasdaq uplist.

Mitesco, Inc. (OTCQB: MITI) announced the lease signing and acquisition of building permits for its seventh clinic, The Good Clinic, in Wayzata, Minnesota, scheduled to open this summer. This new location is part of a mixed-use development near Lake Minnetonka. CEO Larry Diamond highlighted plans for additional clinics in Denver and aims for 50 clinics within three years. The company believes its nurse practitioner model may provide a 25% cost advantage, with rapid expansion expected due to higher-than-anticipated patient growth and unique service offerings.

Mitesco, Inc. (OTCQB: MITI) announced that CEO Larry Diamond will present at the Emerging Growth Conference on April 13, 2022, at 12:15 PM Eastern. The presentation will cover the company’s recent progress and plans for expanding and uplisting to Nasdaq, followed by a Q&A session. Interested parties can register for the live event at EmergingGrowth.com.