Stemtech Corp Files 10-Q for Q2 2025

TL;DR

Stemtech filed its Q2 2025 10-Q. Financials are in.

AI Summary

Stemtech Corporation filed a 10-Q for the period ending June 30, 2025. The company, formerly Globe Net Wireless Corp., is in the wholesale drug proprietaries and druggists' sundries sector. Their business address is 4851 Tamiami Trail North, Suite 200, Naples, FL 34103, with a business phone number of (954) 715-6000.

Why It Matters

This filing provides an update on Stemtech Corporation's financial performance and operational status for the second quarter of 2025, which is crucial for investors and stakeholders to assess the company's health.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented.

Key Players & Entities

• Stemtech Corp (company) — Filer of the 10-Q
• Globe Net Wireless Corp. (company) — Former company name
• 4851 Tamiami Trail North, Suite 200, Naples, FL 34103 (location) — Business and mailing address
• (954) 715-6000 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $0.001 — te: 146,176,902 shares of common stock, $0.001 par value, issued and outstanding as of
• $5 — n stock expected to raise approximately $5–7 million by Q4 2025. Management has en
• $3 m — ng a convertible debt facility of up to $3 million, expected to close by Q1 2026, to
• $0.5 million — operating expenditures by approximately $0.5 million (20%) by the end of Q3 2025, primarily
• $1.0 million — ent additional cost reductions of up to $1.0 million annually, including further headcount r

Filing Documents

• stemtech_i10q-063025.htm (10-Q) — 645KB
• stemtech_ex3101.htm (EX-31.1) — 10KB
• stemtech_ex3102.htm (EX-31.2) — 10KB
• stemtech_ex3201.htm (EX-32.1) — 4KB
• stemtech_ex3202.htm (EX-32.2) — 4KB
• 0001683168-25-006317.txt ( ) — 3985KB
• stek-20250630.xsd (EX-101.SCH) — 30KB
• stek-20250630_cal.xml (EX-101.CAL) — 54KB
• stek-20250630_def.xml (EX-101.DEF) — 93KB
• stek-20250630_lab.xml (EX-101.LAB) — 295KB
• stek-20250630_pre.xml (EX-101.PRE) — 232KB
• stemtech_i10q-063025_htm.xml (XML) — 434KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1. Consolidated Financial Statements 4 Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 (unaudited) 4 Consolidated Statements of Operations and Comprehensive Loss for the three months ended June 30, 2025 and 2024 (unaudited) 5 Consolidated Statements of Stockholders' Equity (Deficit) for the three months ended June 30, 2025 and 2024 (unaudited) 6 Consolidated Statements of Cash Flows for the three months ended June 30, 2025 and 2024 (unaudited) 7

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 8 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 21 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1 Legal Proceeding 28 Item 1A

Risk Factors

Risk Factors 28 Item 2. Recent Sale of Unregistered Securities 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information set forth in this Quarterly Report on Form 10-Q, including in Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere herein may address or relate to future events and expectations and as such constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements which are not historical reflect our current expectations and projections about our future results, performance, liquidity, financial condition, prospects and opportunities and are based upon information currently available to us and our management and their interpretation of what is believed to be significant factors affecting our business, including many assumptions regarding future events. Such forward-looking the size and growth of the potential markets for our products and the ability to serve those markets; our expectations regarding our expenses and revenue, the sufficiency of our cash resources and needs for additional financing; the rate and degree of market acceptance of any of our products; our expectations regarding competition; our anticipated growth strategies; our ability to attract or retain key personnel; our ability to establish and maintain development partnerships; regulatory developments in the U.S. and foreign countries, especially those related to change in, and enforcement of, cannabis laws; our ability to obtain and maintain intellectual property protection for our products; and the anticipated trends and challenges in our business and the market in which we operate.

Forward-looking statements,

Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," or "project" or the negative of these words or other variations on these words or comparable terminology. Actual results, performance, liquidity, financial condition and results of operations, prospects and opportunities could differ materially and perhaps substantially from those expressed in, or implied by, these forward-looking statements as a result of various risks, uncertainties and other factors. These statements may be found under the section of our Annual Report on Form 10-K for the year ended December 31, 2023 (filed on July 10 th , 2024) entitled "Risk Factors" as well as in our other public filings. In light of these risks and uncertainties, and especially given the start-up nature of our business, there can be no assurance that the forward-looking statements contained herein will in fact occur. Readers should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. 3

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Stemtech Corporation Consolidated Balance Sheets (Unaudited) June 30, 2025 December 31, 2024 ASSETS CURRENT ASSETS: Cash $ 272,450 $ 255,298 Accounts receivable, net 347,445 269,749 Inventory, net 274,807 197,355 Prepaid expenses and other current assets 201,160 199,344 TOTAL CURRENT ASSETS 1,095,862 921,746 Property and equipment, net Intangible assets, net 2,292,405 2,376,158 Other long term assets – – Long term deposits 16,480 16,932 Operating lease right-of-use assets - net – – Goodwill 467,409 467,409 Intercompany – – TOTAL ASSETS $ 3,872,156 $ 3,782,245 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued expenses $ 5,227,878 $ 4,518,391 Notes payable 2,414,829 2,046,001 Convertible debentures, net of discount 1,725,989 1,769,583 Operating lease liabilities - current – – Deferred revenues 98,249 1,463 Factoring liability 856,918 673,611 Derivative liability – – TOTAL CURRENT LIABILITIES 10,323,863 9,009,049 Notes payable - Long term – – Operating lease liabilities - noncurrent – – Other long term liabilities – – TOTAL LIABILITIES 10,323,863 9,009,049 COMMITMENTS AND CONTINGENCIES (Note 10) – – STOCKHOLDERS' EQUITY Common stock - $ 0.001 par value; 400,000,000 shares authorized; 142,443,444 and 135,756,053 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 142,444 135,756 Additional paid in capital 26,780,239 26,357,396 Accumulated other comprehensive loss ( 45,704 ) ( 146,277 ) Accumulated deficit ( 32,582,923 ) ( 30,831,052 ) Stemtech Corporation shareholders' deficit ( 5,705,944 ) ( 4,484,176 ) Non-controlling interest in subsidiaries ( 745,763 ) ( 742,628 ) Net loss – – TOTAL STOCKHOLDERS' EQUITY ( 6,451,707 ) ( 5,226,804 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,872,156 $ 3,782,245 The accompanyin

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