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United Health Products (UEEC) filed its Q3 2025 report, showing no revenue as the company focuses on FDA approval for its CelluSTAT surgical hemostatic gauze. The quarter recorded a net loss of $285,594, and the nine-month period showed a net loss of $2,132,440.
Liquidity remains tight: cash stood at $18,376 and working capital was negative $1,963,227. Management stated there is substantial doubt about the company’s ability to continue as a going concern. Financing activity included $420,000 in new convertible notes during the nine months and 800,000 shares sold under the White Lion facility for $63,308; the CSPA commitment period ended on October 1, 2025. Shares outstanding were 258,690,253 as of November 14, 2025.
Regulatory progress remains the key driver. The FDA issued a Warning Letter related to the 2019 clinical study, and in April 2025 the FDA disapproved UHP’s IDE for a 27‑subject supplemental trial pending resolution of that letter. Subsequent to quarter end, UHP received $100,000 via a 60‑day promissory note at 13%, convertible at the holder’s election into notes maturing December 31, 2026.