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MedWellAI, Inc. reports a difficult year with material impairments, debt defaults and a large accumulated deficit that raise substantial doubt about its ability to continue as a going concern. The company acquired 51% of Healthy Lifestyle and recorded a $670,329 goodwill impairment after deciding to abandon that business; earn-out targets tied to Healthy Lifestyle were not met so no post-closing payments are due. The company reported an accumulated deficit of $88,673,880 and disclosed operations that produced cash shortfalls. A note payable went into default and the lender reduced default interest to 10% effective April 1, 2024; interest expense of $50,694 and $81,389 was recorded in fiscal 2025 and 2024. Management also issued 50,000 Series B preferred shares to a related party, valued on an as-converted basis at $8,300,000, convertible at 100:1. The filing discloses discontinued mining operations and other one-time adjustments but lacks full, contiguous financial tables in this extract.