Latest news with #JNH
Associated Press
4 days ago
- Business
- Associated Press
Jack Nathan Health Announces Its Q4 and Year End Fiscal 2025 Financial Results
TORONTO--(BUSINESS WIRE)--Jul 11, 2025-- Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) ('Jack Nathan Health', 'JNH' or the 'Company') announced today its audited consolidated annual financial results for the fourth quarter of fiscal 2025, and fiscal year ended January 31, 2025. Jack Nathan Health's financial statements are prepared in accordance with International Financial Reporting Standards ('IFRS'). Disclosure Regarding Filing Timing As previously disclosed in a press release issued on June 9, 2025, the Company was unable to file its annual financial statements, MD&A, and related CEO and CFO certifications for the fiscal year ended January 31, 2025, by the prescribed filing deadline of May 31, 2025. The delay was due to operational restructuring, resource realignment, and transition impacts following the divestiture of its Canadian primary care operations and the winding down of Mexico operations. The Company is pleased to confirm that it has now completed the filings within the 90-day permitted period, and all required documents are available on SEDAR+. Management Commentary Mike Marchelletta, Chief Executive Officer, commented: 'Fiscal 2025 was a pivotal year of transition for Jack Nathan Health. We successfully completed the divestiture of our Canadian primary care and licensee business, which significantly improved our balance sheet and eliminated legacy obligations. Following year-end, we also ceased all clinic operations in Mexico after the termination of our agreement with Walmart Mexico. With both legacy business segments now exited, our current focus is on internal restructuring, stabilizing our operations, and preserving cash while evaluating future strategic opportunities. We believe these actions have positioned the Company for a more focused path forward.' Financial Highlights for the fiscal year ended January 31, 2025 For the fiscal year ended January 31, 2025, total consolidated revenues were $19.1 million, consistent with the prior year. Revenues from continuing operations increased 26% to $8.7 million driven by the full-year contribution from MedSpa operations and the continued activity of the Mexico division through fiscal year-end. MedSpa revenues were $1.03 million, up 90% year-over-year. Discontinued operations contributed $10.4 million in revenue prior to the sale of the Canadian medical clinic and licensee business on December 1, 2024. Note on Mexico Operations: The 2025 financial statements reflect the Mexico clinic operations as part of continuing operations, as these locations were active through January 31, 2025. However, subsequent to year-end, all operations in Mexico were fully ceased as of June 30, 2025 following the formal termination of the Company's agreement with Walmart Mexico. As such, the Mexico division is no longer part of Jack Nathan Health's active business going forward. The Company reported a loss from continuing operations of $2.5 million, compared to $1.3 million in the prior year. However, discontinued operations yielded a net gain of $9.99 million, largely driven by a $16.4 million gain on the sale of the Canadian operations. Balance Sheet as of January 31, 2025 Working capital improved to $1.4 million, compared to a working capital deficit of $0.5 million the year prior. Shares Outstanding As of January 31, 2025, the Company had 87,099,159 common shares outstanding, 1,650,000 stock options outstanding and 335,004 DSUs outstanding. For further information regarding the Company's financial results for fiscal year ended January 31, 2025, please refer to the audited annual consolidated financial statements of the Company as at and for the 12 months ended January 31, 2025 together with the corresponding MD&A, available at and the JNH website https// About Jack Nathan Medical Corp. Jack Nathan Health® is a provider of MedSpa services in Canada and a former operator of one of the largest retail medical clinic networks in North America. Established in 2006 the Company expanded its international footprint, delivering exceptional, state-of-the-art, turn-key medical centers in 253 locations globally, with 193 corporately owned and operated. In Canada, the Company grew to 82 locations, including 80 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 2 independent locations, with 22 corporate owned and operated clinics of which 3 included Rehab services and 6 included MedSpa services. In Mexico, the Company grew to 171 corporate owned clinics across Mexico within 3 divisions, including 165 retail clinics, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 multidisciplinary clinic. In December 2024, Jack Nathan Health restructured its Canadian medical operations through an asset sale to Well Health Technologies Corp. Following the exit from its Walmart Mexico operations in May 2025, the Company continues to operate its Canadian MedSpa clinics and is actively evaluating strategic opportunities for its future business in Canada, Mexico & USA. For more information, visit https// or Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Appendix: Certain statements contained in this press release constitute 'forward-looking information' as such term is defined in applicable Canadian securities legislation. The words 'may', 'would', 'could', 'should', 'potential', 'will', 'seek', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' and similar expressions as they relate to Jack Nathan are intended to identify forward- looking information. All statements other than statements of historical fact may be forward- looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political, and competitive developments; and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward- looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward- looking information. The forward-looking information included in this press release is made as of View source version on Jack Nathan Medical Corp., Mike Marchelletta, Chief Executive Officer,(647)-488-5008 KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: HEALTH HOSPITALS PRACTICE MANAGEMENT OTHER HEALTH MANAGED CARE GENERAL HEALTH SOURCE: Jack Nathan Medical Corp. Copyright Business Wire 2025. PUB: 07/11/2025 08:25 PM/DISC: 07/11/2025 08:25 PM
Yahoo
4 days ago
- Business
- Yahoo
Jack Nathan Health Announces Its Q4 and Year End Fiscal 2025 Financial Results
MedSpa revenues grew 90% year-over-year Net income from discontinued operations of $9.99 million due to gain on sale of Canadian Primary Care and Licensee business Mexico operations fully ceased as of June 30, 2025 TORONTO, July 12, 2025--(BUSINESS WIRE)--Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) ("Jack Nathan Health", "JNH" or the "Company") announced today its audited consolidated annual financial results for the fourth quarter of fiscal 2025, and fiscal year ended January 31, 2025. Jack Nathan Health's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). Disclosure Regarding Filing Timing As previously disclosed in a press release issued on June 9, 2025, the Company was unable to file its annual financial statements, MD&A, and related CEO and CFO certifications for the fiscal year ended January 31, 2025, by the prescribed filing deadline of May 31, 2025. The delay was due to operational restructuring, resource realignment, and transition impacts following the divestiture of its Canadian primary care operations and the winding down of Mexico operations. The Company is pleased to confirm that it has now completed the filings within the 90-day permitted period, and all required documents are available on SEDAR+. Management Commentary Mike Marchelletta, Chief Executive Officer, commented: "Fiscal 2025 was a pivotal year of transition for Jack Nathan Health. We successfully completed the divestiture of our Canadian primary care and licensee business, which significantly improved our balance sheet and eliminated legacy obligations. Following year-end, we also ceased all clinic operations in Mexico after the termination of our agreement with Walmart Mexico. With both legacy business segments now exited, our current focus is on internal restructuring, stabilizing our operations, and preserving cash while evaluating future strategic opportunities. We believe these actions have positioned the Company for a more focused path forward." Financial Highlights for the fiscal year ended January 31, 2025 Operating Results 2025 2024 2023 $ $ Revenues (Continuing + Discontinued) 19,146,626 19,144,923 15,487,698 Net loss from continuing operations (2,530,374) (1,333,217) (6,902,759) Net Income/(loss) from discontinued operations 9,995,129 (5,302,750) - Total comprehensive income/ (loss) 7,678,435 (6,737,300) (7,077,020) For the fiscal year ended January 31, 2025, total consolidated revenues were $19.1 million, consistent with the prior year. Revenues from continuing operations increased 26% to $8.7 million driven by the full-year contribution from MedSpa operations and the continued activity of the Mexico division through fiscal year-end. MedSpa revenues were $1.03 million, up 90% year-over-year. Discontinued operations contributed $10.4 million in revenue prior to the sale of the Canadian medical clinic and licensee business on December 1, 2024. Note on Mexico Operations: The 2025 financial statements reflect the Mexico clinic operations as part of continuing operations, as these locations were active through January 31, 2025. However, subsequent to year-end, all operations in Mexico were fully ceased as of June 30, 2025 following the formal termination of the Company's agreement with Walmart Mexico. As such, the Mexico division is no longer part of Jack Nathan Health's active business going forward. The Company reported a loss from continuing operations of $2.5 million, compared to $1.3 million in the prior year. However, discontinued operations yielded a net gain of $9.99 million, largely driven by a $16.4 million gain on the sale of the Canadian operations. Balance Sheet as of January 31, 2025 Cash of $2.2 million (January 31, 2024 - $3.06 million) Total assets of $3.54 million (January 31, 2024 - $11.19 million) Total liabilities of $2.22 million (January 31, 2024 - $17.13 million) Working capital improved to $1.4 million, compared to a working capital deficit of $0.5 million the year prior. Shares Outstanding As of January 31, 2025, the Company had 87,099,159 common shares outstanding, 1,650,000 stock options outstanding and 335,004 DSUs outstanding. For further information regarding the Company's financial results for fiscal year ended January 31, 2025, please refer to the audited annual consolidated financial statements of the Company as at and for the 12 months ended January 31, 2025 together with the corresponding MD&A, available at and the JNH website https// About Jack Nathan Medical Corp. Jack Nathan Health® is a provider of MedSpa services in Canada and a former operator of one of the largest retail medical clinic networks in North America. Established in 2006 the Company expanded its international footprint, delivering exceptional, state-of-the-art, turn-key medical centers in 253 locations globally, with 193 corporately owned and operated. In Canada, the Company grew to 82 locations, including 80 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 2 independent locations, with 22 corporate owned and operated clinics of which 3 included Rehab services and 6 included MedSpa services. In Mexico, the Company grew to 171 corporate owned clinics across Mexico within 3 divisions, including 165 retail clinics, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 multidisciplinary clinic. In December 2024, Jack Nathan Health restructured its Canadian medical operations through an asset sale to Well Health Technologies Corp. Following the exit from its Walmart Mexico operations in May 2025, the Company continues to operate its Canadian MedSpa clinics and is actively evaluating strategic opportunities for its future business in Canada, Mexico & USA. For more information, visit https// or Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Appendix: Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Jack Nathan are intended to identify forward- looking information. All statements other than statements of historical fact may be forward- looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political, and competitive developments; and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward- looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward- looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward- looking information, other than as required by applicable law. View source version on Contacts Jack Nathan Medical Corp., Mike Marchelletta, Chief Executive Officer, (647)-488-5008 Sign in to access your portfolio
National Post
09-06-2025
- Business
- National Post
Jack Nathan Health Provides Update on Filing of FY 2024–25 Financial Statements and Audit Progress
Article content TORONTO — Jack Nathan Medical Corp. (TSXV: 'JNH'; OTCQB: 'JNHMF'), ('Jack Nathan Health', 'JNH' or the 'Company') announces that it was unable to file its audited consolidated financial statements, management's discussion and analysis (MD&A), and related CEO and CFO certifications for the fiscal year ended January 31, 2025 (collectively, the 'Annual Filings') by the required deadline of May 31, 2025. Article content The delay was primarily due to the complexity surrounding the Asset Purchase Agreement (APA) completed on December 1, 2024, under which the Company transferred its Canadian medical clinic business and operations to Well Health Technologies Corp. As part of this transaction, access to EMR systems, supporting documents, and clinical records was also transferred, and this has resulted in extended timelines for data retrieval and audit testing. Article content Article content In addition to the operational handover: Article content The Company underwent a change in external auditors during the fiscal year. A significant number of JNH's employees, including finance and administrative staff, transitioned to Well Health. A resulting delay in commencing the audit, which only began in late February 2025 Article content Despite the late start, Jack Nathan Health made every effort to complete the audit by the filing deadline. Based on that intent, the Company did not apply for a Management Cease Trade Order (MCTO) in advance. However, given the ongoing audit, the Company was unable to meet the statutory filing deadline. As a result, the Ontario Securities Commission issued a Failure-to-File Cease Trade Order ('CTO') against the Company on June 6, 2025, under applicable securities legislation. The CTO prohibits trading in the Company's securities in all Canadian jurisdictions where reciprocal orders apply, until the required filings are completed and the order is revoked. The Company continues to work closely with its auditors to finalize the audit and expects to file well within the 90-day period required for automatic revocation of the CTO. Article content 'This past year marked a major transformation for Jack Nathan Health. The transition of our Canadian medical business to Well Health involved an extensive operational and systems handover,' said Mike Marchelletta, CEO of Jack Nathan Health. 'We recognize the delay in our reporting obligations and remain fully committed to transparency. Our team is working diligently to finalize the audit, and we anticipate filing as soon as possible.' Article content About Jack Nathan Medical Corp. Article content Jack Nathan Health ® is a provider of MedSpa services in Canada and a former operator of one of the largest retail medical clinic networks in North America. Established in 2006 the Company expanded its international footprint, delivering exceptional, state-of-the-art, turn-key medical centers in 253 locations globally, with 193 corporately owned and operated. In Canada, the Company grew to 82 locations, including 80 clinics in Walmart locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec and 2 independent locations, with 22 corporate owned and operated clinics of which 3 included Rehab services and 6 included MedSpa services. In Mexico, the Company grew to 171 corporate owned clinics across Mexico within 3 divisions, including 165 retail clinics, 5 clinics inside Walmart Distribution Centers servicing Walmart Associates, and 1 multidisciplinary clinic. In December 2024, Jack Nathan Health restructured its Canadian medical operations through an asset sale to Well Health Technologies Corp. Following the exit from its Walmart Mexico operations in May 2025, the Company continues to operate its Canadian MedSpa clinics and is actively evaluating strategic opportunities for its future business in Canada, Mexico & USA. Article content For more information, visit or Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Concerning Going Concern As previously reported by the Company in its consolidated financial statements and related management's discussion and analysis filed on SEDAR+ ( the Company requires additional financing to enable it to continue operations. In the absence of additional financing in the near term, the Company is not expected to have sufficient funds to meet its obligations. The Company is actively pursuing alternatives to raise the necessary additional financing. There can be no assurances that the Company will be able to secure the necessary financing to enable it to continue as a going concern. Article content Article content Article content Article content Article content
