Every 10-Q that FUNCTIONAL BRANDS INC (MEHA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MEHA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MEHA filings page.
Functional Brands Inc., a nutraceutical producer, reported modest six‑month revenue of $3.52 million but a sharply higher net loss of $9.62 million. Cash fell to $352,142 at June 30 2026, with a working capital deficit of $2.90 million and total liabilities of $9.41 million exceeding assets of $6.45 million, resulting in a stockholders’ deficit of $2.96 million.
The company discloses substantial doubt about its ability to continue as a going concern and is highly reliant on additional debt and equity financing. During the period it undertook a complex capital restructuring, extinguishing Series A and B preferred shares and issuing Series C convertible preferred stock (classified as a $2.76 million liability) and $837,800 of senior secured convertible notes (carrying value $993,525) with bifurcated embedded derivative liabilities measured via Monte Carlo models.
The company failed to commence mandatory redemptions on the Series C and subsequently lost its Nasdaq listing in June 2026, both constituting Events of Default that triggered higher default interest (up to 24%), a 125% default premium on the notes, and use of alternate, lower conversion prices. Management is in discussions with holders, and no accelerations had been exercised as of the report date.
Functional Brands Inc. reported a sharply wider loss for the quarter ended March 31, 2026, while revenue grew modestly. Net revenue rose to $1.65M from $1.59M, with nutraceutical supplements contributing nearly all sales as the company wound down its hemp-based products business.
Despite higher gross profit of $0.96M, operating expenses jumped to $1.64M, driving an operating loss of $0.68M. A large noncash loss of $6.31M related to preferred stock and derivative remeasurement pushed net loss to $6.99M, or $(0.36) per share, versus a $0.13M loss a year earlier.
The balance sheet weakened materially: cash declined to $1.08M, total assets were $7.21M, and total liabilities increased to $11.72M, resulting in stockholders’ deficit of $4.51M. Management discloses substantial doubt about the company’s ability to continue as a going concern and is relying on additional debt and equity financing while carrying significant Series C preferred, convertible notes and warrant overhang.
Functional Brands Inc. reported higher sales and a small profit in the third quarter of 2025 but still faces financial strain. Net revenue rose to $1,694,174 from $1,395,913, with gross profit improving to $978,350 as demand increased in its direct-to-consumer channel. A one-time Employee Retention Tax Credit refund of $491,801 was recorded in other income, helping the quarter deliver net income of $259,001 and diluted EPS of $0.04.
For the nine months ended September 30, 2025, revenue reached $5,116,963 and the net loss narrowed to $93,837. Cash increased to $1,005,324 and stockholders’ equity turned positive at $604,665, but the company still reported negative working capital of $1,491,727 and total liabilities of $7,628,876. Management stated these conditions raise “substantial doubt” about its ability to continue as a going concern without additional capital.
After quarter-end, Functional Brands completed a direct listing on the Nasdaq Capital Market under the symbol MEHA and closed a private placement of Series A and Series B preferred stock for gross proceeds of $8,000,000, while also settling a $2,212,366 acquisition-related payable.