TRxADE HEALTH Files Q2 2024 10-Q

TL;DR

TRxADE HEALTH's Q2 2024 10-Q is in - check financials for drug wholesale biz.

AI Summary

TRxADE HEALTH, INC. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as TRXADE GROUP, INC., is involved in the wholesale of drugs and sundries. The filing covers financial information for the second quarter of 2024 and the first six months of the year, comparing it to the same periods in 2023. Key financial data and disclosures related to preferred stock and related party members are included.

Why It Matters

This filing provides investors with an update on TRxADE HEALTH's financial performance and position for the second quarter of 2024, crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing regular financial reports, TRxADE HEALTH carries inherent market and operational risks, with the specific risk level influenced by its financial performance and industry conditions.

Key Numbers

• Q2 2024 — Reporting Period (Financials for the second quarter of 2024 are detailed.)
• First Six Months 2024 — Reporting Period (Financials for the first half of 2024 are detailed.)
• 2023-12-31 — Previous Fiscal Year End (Comparison point for financial data.)

Key Players & Entities

• TRxADE HEALTH, INC (company) — Filer of the 10-Q
• TRXADE GROUP, INC. (company) — Former name of TRxADE HEALTH, INC.
• 20240630 (date) — End of the reporting period
• 20240809 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.00001 — nge on which registered Common Stock, $0.00001 Par Value Per Share MEDS The NASDAQ

Filing Documents

• form10-q.htm (10-Q) — 1828KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• form10-q_001.jpg (GRAPHIC) — 6KB
• 0001493152-24-030971.txt ( ) — 9399KB
• meds-20240630.xsd (EX-101.SCH) — 64KB
• meds-20240630_cal.xml (EX-101.CAL) — 78KB
• meds-20240630_def.xml (EX-101.DEF) — 302KB
• meds-20240630_lab.xml (EX-101.LAB) — 498KB
• meds-20240630_pre.xml (EX-101.PRE) — 399KB
• form10-q_htm.xml (XML) — 1850KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39199 TRxADE HEALTH, INC. (Exact name of registrant as specified in its charter) Delaware 46-3673928 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 6308 Benjamin Rd , Suite 708 Tampa , Florida 33634 (Address of principal executive offices) (Zip code) (800) 261-0281 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.00001 Par Value Per Share MEDS The NASDAQ Stock Market LLC (The NASDAQ Capital Market) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T ( 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of " large accelerated filer, " " accelerated filer, " " smaller reporting company, " and " emerging growth company " in Rule 12b-2 of the Exchange Act. Large accelerated filer Accelerated reporting company Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No There were 1,458,659 shares of the registrant's common stock outstanding on August 9, 2024. TRxADE HEALTH, INC. FORM 10-Q For the Quarter Ended June 30, 2024 TABLE OF CONTENTS CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 3 PART I: FINANCIAL INFORMATION 4 ITEM 1. FINANCIAL STATEMENTS 4 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 26 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 34 ITEM 4. CONTROLS AND PROCEDURES 34 PART II. OTHER INFORMATION 36 ITEM 1. LEGAL PROCEEDINGS 36 ITEM 1A. RISK FACTORS 36 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 37 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 37 ITEM 4. MINE SAFETY DISCLOSURES 37 ITEM 5. OTHER INFORMATION 37 ITEM 6. EXHIBITS 38 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (" Report "), including without limitation, " Management's Discussion and Analysis of Financial Condition and Results of Operations, " contains forward-looking statements, within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, regarding future events and the future results of the Company that are based on current expectations, estimates, forecasts, and projections about the industry in which the Company operates and the beliefs and assumptions of the management of the Company. Words such as " expects, " " anticipates, " " targets, " " goals, " " projects, " " intends, " " plans, " " believes, " " seeks, " " estimates, " variations of such words, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. These factors include, but are not limited to: Our limited amount of cash; The negative effect on our business and our ability to raise capital that is created by the fact that there is a substantial doubt about our ability to continue as a going concern; Risks of our operations not being profitable; Claims relating to alleged violations of intellectual property rights of others; Technical problems with our websites; Cybersecurity risks Risks relating to implementing our acquisition strategies, and, risks related to our ability to integrate the business operations of businesses that we acquire from time to ti

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View this 10-Q filing on SEC EDGAR