DataMeds AI, Inc. reported sharply weaker results for the three and six months ended June 30, 2026. Net revenues fell to $1.78 million from $7.79 million in the quarter and to $3.34 million from $18.65 million year to date, driven largely by a steep decline in distribution services revenue caused by liquidity constraints that limited product procurement and fulfillment. Gross profit was only $182,204 for the quarter, while operating expenses of $7.53 million produced a loss from operations of $7.35 million.
After heavy non‑operating charges, including $8.88 million loss on extinguishment of debt and a $0.77 million contract termination fee, total other expense reached $11.0 million, resulting in a net loss of $18.36 million for the quarter and $26.11 million year to date. The company ended June 30, 2026 with cash of $2.46 million, total assets of $32.76 million, total debt of $31.81 million, and a stockholders’ deficit of $19.50 million. Management obtained $14.2 million of new convertible note financing, completed a 1‑for‑50 reverse stock split and regained Nasdaq’s $1.00 bid compliance, but still faces an equity deficiency notice and a Nasdaq deadline of October 12, 2026 to restore stockholders’ equity to at least $2.5 million. The company disclosed that these conditions raise substantial doubt about its ability to continue as a going concern within twelve months.
DataMEDS AI, Inc. reports that Datavault AI Inc. plans a voluntary one-time distribution of Dream Bowl Meme Coin digital tokens to holders of DataMEDS common stock. Record holders as of the close of business on August 7, 2026 are eligible, with Datavault’s board retaining the right to move this date later.
Each eligible share of DataMEDS common stock corresponds to 50 Dream Bowl Meme Coins, to be delivered beginning on September 9, 2026, subject to Datavault’s board being able to change that date or revoke the distribution entirely. To receive tokens, holders must open a Datavault digital wallet and execute an Opt-In Agreement via the distribution website. Datavault states a fair market value of $0.01 per Meme Coin as of August 7, 2026, notes that the tokens are intended as non-investment digital collectibles, and highlights extensive risk factors around volatility, regulatory uncertainty, security, liquidity and tax treatment, including that the distribution may be treated as an in-kind dividend for tax purposes.
DataMEDS AI, Inc. filed a Notification of Late Filing indicating it will not submit its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 by the original due date of August 14, 2026. The company states the report cannot be completed on time without unreasonable effort or expense and that it needs additional time to finalize the preparation and review of its financial statements and related disclosures. DataMEDS AI, Inc. expects to file the Form 10-Q within the five-calendar-day extension period permitted under Rule 12b-25 of the Securities Exchange Act of 1934.