Medinotec Inc SEC Filings

Medinotec, Inc., a Nevada-based medical device company with core operations in Johannesburg, files its annual report describing a niche portfolio of balloon catheters and airway dilation products and an evolving global distribution network. The company earns revenue from proprietary devices such as the Trachealator and Outflo Aortic Valve Dilation Balloon Catheter, plus third‑party cardiology and dialysis products, with business still heavily concentrated in South Africa.

U.S. sales reached $611,860 in fiscal 2026, about 6% of total sales, compared with $678,105 and 7% a year earlier, underscoring early but limited traction in the American market despite FDA 510(k) clearances for Trachealator and Outflo. As of February 28, 2026, the Medinotec Group employed 36 full‑time staff and 12 independent contractors, supporting development, manufacturing, regulatory affairs, and commercialization across roughly 45 countries.

The report highlights significant dependencies and risks: approximately 89% of revenue comes from sales to DISA Life Sciences in South Africa, exposing Medinotec to both customer and geographic concentration. Operations are further shaped by South African power instability, exchange controls, foreign‑exchange volatility and potential changes to U.S. trade benefits such as AGOA. Management outlines a three‑pillar strategy focused on expanding its proprietary product portfolio, strengthening internal manufacturing and quality systems under ISO 13485 and MDR, and selectively pursuing acquisitions or new distribution arrangements while managing liquidity needs and potential shareholder dilution from future capital raises.

Medinotec, Inc. reported the results of its 2025 Annual Meeting of shareholders held on January 20, 2026. Shareholders elected five directors — Gregory Vizirgianakis, Pieter van Niekerk, Stavros G. Vizirgianakis, Joseph P. Dwyer and Athanasios Spirakis — each to a one-year term expiring at the 2026 Annual Meeting or until their successors are elected and qualified. Each director received 9,955,835 votes for, with no votes against or abstentions. Shareholders also ratified the appointment of Mercurius & Associates LLP as the independent registered public accounting firm for fiscal 2026, with 9,955,835 votes for, and no votes against or abstaining.

Medinotec Inc. reported unaudited results for the quarter and nine months ended November 30, 2025. Nine‑month revenue rose to $7,907,325 from $5,588,445 a year earlier, with net income increasing to $863,761 from $682,264, or basic and diluted EPS of $0.07 versus $0.06. Quarterly revenue was $2,536,994 with net income of $403,411.

Gross profit for the nine‑month period grew to $4,273,556, while operating income reached $1,358,734. The company strengthened its balance sheet: cash was $2,856,926 and loans payable dropped sharply to $452 from $940,277 as of February 28, 2025, lifting total equity to $5,500,237. Operations outside the U.S. generated most revenue and profit.

Results remain highly concentrated, as approximately 92% of revenue for the nine months came from a single South African distributor, DISA Life Sciences. Management highlights foreign‑exchange impacts on comprehensive income and notes strategic goals to expand U.S. sales and pursue a potential future uplisting, while acknowledging risks from customer concentration, regulatory approvals, and a newly announced 30% U.S. tariff on South African imports.

Medinotec Inc. is calling its 2025 Annual Meeting of Stockholders for January 20, 2026 at 9:30 a.m. EST, to be held exclusively via video conference. Only holders of common stock as of December 5, 2025 may vote, with one vote per share, and all voting must be completed in advance by email, mail or fax; shareholders cannot vote during the live meeting.

Investors are being asked to elect five directors, all current board members, and to approve Mercurius & Associates LLP as independent registered public accounting firm for the fiscal year ending February 28, 2026. The board recommends voting "FOR" all nominees and the auditor ratification.

As of the record date, 11,755,548 common shares were outstanding, with directors and executive officers as a group beneficially owning about 84.3%, including large positions held by Gregory and Stavros Vizirgianakis. The filing also highlights related-party arrangements, including a $940,001 loan from Minoan Medical and rent paid to an entity controlled by the CEO, as well as modest cash compensation reported for top executives.

Medinotec, Inc. reported mixed quarterly results driven by its distribution business and product development progress. The company recorded a $12,972 gain for the quarter ended August 31, 2025 compared with a $5,247 loss in the prior-year quarter, and a $2,819 loss for the six months ending August 31, 2025 versus a $9,399 loss a year earlier, showing narrower losses year-to-date. Revenue concentration remains high: 93% of total revenue for the quarter came from a single distributor in South Africa (up from 89%).

Cash and equivalents stood at $2,248,095 at August 31, 2025 (previously $2,769,686 on February 28, 2025), with $1,830,216 held in the U.S. The company has 11,755,548 common shares outstanding. Product milestones include FDA clearance for the OutFlo Aortic Valve Dilatation Balloon Catheter on March 11, 2025 with a planned U.S. launch in the fourth quarter of this financial year; several other catheter 510(k) submissions and CE/MDR processes remain in progress.