Odyssey Health Files Q3 2024 10-Q

TL;DR

Odyssey Health (ODYS) filed its 10-Q for Oct 31, 2024. Check financials.

AI Summary

Odyssey Health, Inc. filed its quarterly report on Form 10-Q for the period ending October 31, 2024. The company, formerly known as Odyssey Group International, Inc., is incorporated in Nevada and operates in the surgical and medical instruments sector. Its principal business address is in Las Vegas, Nevada.

Why It Matters

This filing provides investors with an update on Odyssey Health's financial performance and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it represents a routine update, but the company's specific financial health and market position would determine the actual risk.

Key Numbers

• 2024-10-31 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-12-16 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Odyssey Health, Inc. (company) — Filer of the 10-Q
• Odyssey Group International, Inc. (company) — Former name of Odyssey Health, Inc.
• 20241031 (date) — End of the reporting period
• 20241216 (date) — Filing date
• NV (location) — State of incorporation
• 702-780-6559 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock ($0.001 par value) ODYY OTC Indicate by che
• $0.31 — f Oragenics common stock were valued at $0.31 on October 31, 2024, as quoted on the N
• $0.20 — 1,500,000 shares of our common stock at $0.20 per share. On December 29, 2022, we en
• $0.072 — he note conversion price was changed to $0.072 per common share. Following these amen
• $300,000 — On August 14, 2024, we entered into a $300,000 promissory note (the "Note") with an ac
• $0.10 — e 300,000 shares of our common stock at $0.10 per share that expires August 14, 2029,
• $13,343 — s August 14, 2029, with a fair value of $13,343. At October 31, 2024, $300,000 in princ
• $11,539 — ber 31, 2024, $300,000 in principal and $11,539 in accrued interest remained outstandin
• $0.12 — ible into shares of our common stock at $0.12 per share, (ii) a five-year share purch
• $0.075 — ur common stock at an exercise price of $0.075 per share. Following this conversion, n
• $63,455 — the period ended January 31, 2024. The $63,455 was recorded as a deemed dividend in ou

Filing Documents

• odyssey_i10q-103124.htm (10-Q) — 488KB
• odyssey_ex3101.htm (EX-31.1) — 7KB
• odyssey_ex3102.htm (EX-31.2) — 7KB
• odyssey_ex3201.htm (EX-32.1) — 4KB
• odyssey_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-008756.txt ( ) — 3409KB
• odyy-20241031.xsd (EX-101.SCH) — 29KB
• odyy-20241031_cal.xml (EX-101.CAL) — 34KB
• odyy-20241031_def.xml (EX-101.DEF) — 125KB
• odyy-20241031_lab.xml (EX-101.LAB) — 255KB
• odyy-20241031_pre.xml (EX-101.PRE) — 222KB
• odyssey_i10q-103124_htm.xml (XML) — 390KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements 3 Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Stockholders' Deficit 5 Consolidated Statements of Cash Flows 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 20 Item 4

Controls and Procedures

Controls and Procedures 20

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1A

Risk Factors

Risk Factors 21 Item 2 Unregistered Sales of Equity Securities 21 Item 5 Other Information 21 Item 6 Exhibits 21

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Odyssey Health, Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) October 31, July 31, 2024 2024 Assets Current assets: Cash $ 53,865 $ 2,379 Research and development rebate due from the Australian government – 22,625 Prepaid expenses and other current assets 128,675 31,939 Total current assets 182,540 56,943 Investment 158,505 529,203 Total assets $ 341,045 $ 586,146 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 1,457,739 $ 1,275,996 Accrued wages 1,812,081 1,648,586 Accrued interest 272,033 223,754 Asset purchase liability 1,125,026 1,125,026 Notes payable, officers and directors 100,000 100,000 Notes payable, net of unamortized debt discount and closing costs of $ 31,676 and $ 38,134 1,852,991 1,546,533 Total current liabilities 6,619,870 5,919,895 Commitments and contingencies – – Stockholders' deficit: Preferred stock, $ 0.001 par value, 100,000,000 shares authorized, no shares issued or outstanding – – Common stock, $ 0.001 par value, 500,000,000 shares authorized, 96,709,763 shares issued and outstanding 96,710 96,710 Additional paid-in-capital 55,646,517 55,572,687 Accumulated deficit ( 62,022,052 ) ( 61,003,146 ) Total stockholders' deficit ( 6,278,825 ) ( 5,333,749 ) Total liabilities and stockholders' deficit $ 341,045 $ 586,146 The accompanying notes are an integral part of these unaudited consolidated financial statements. 3 Odyssey Health, Inc. and Subsidiaries Consolidated Statements of Operations (Unaudited) For the Three Months Ended October 31, 2024 2023 Research and development $ – $ 23,001 Stock-based compensation 60,487 322,798 General and administrative 519,841 501,440 Gain on sale of asset – ( 500,000 ) Loss from operations ( 580,328 ) ( 347,239 ) Unrealized loss on investment ( 370,698 ) – Interest expense ( 68,781 ) ( 190,861 ) Other

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) Note 1. Basis of Presentation and Nature of Operations Basis of Presentation The accompanying consolidated financial information of Odyssey Health, Inc. and our wholly-owned subsidiary Odyssey Group International Australia, Pty Ltd, (collectively, the "Company") is unaudited and has been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). All intercompany balances and transactions have been eliminated. However, such information reflects all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the consolidated financial position, results of operations and cash flows for the interim periods. The consolidated financial information as of July 31, 2024 is derived from our 2024 Annual Report on Form 10-K. The consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in our 2024 Annual Report on Form 10-K filed with the SEC on November 13, 2024. The consolidated results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. Significant Accounting Policies Our significant accounting policies have not changed during the three months ended October 31, 2024 from those disclosed in our Annual Report on Form 10-K for the year ended July 31, 2024. Nature of Operations Our corporate mission is to create or acquire distinct assets, intellectual property, and technologies with an emphasis on acquisition targets that have superior clinical utility and serve an unmet medical need.. Our business model is to develop or acquire medical related products, engage third parties to help develop, complete clinical trials and m

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View this 10-Q filing on SEC EDGAR