United Health Products Q2 2024: Assets Near Liabilities

TL;DR

UNHP Q2 2024: Assets $248M, Liabilities $245M. Tight financial position.

AI Summary

United Health Products, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $248,233,222 and total liabilities of $244,783,222. Revenue for the period was not explicitly stated, but the filing indicates a significant increase in assets and liabilities compared to previous periods.

Why It Matters

This filing provides insight into the financial health and operational scale of United Health Products, Inc. as of mid-2024, which is crucial for investors and stakeholders assessing its stability and growth potential.

Risk Assessment

Risk Level: medium — The close proximity of total assets to total liabilities suggests a potentially leveraged financial position, which can increase risk.

Key Numbers

• $248.2B — Total Assets (Represents the company's total resources as of June 30, 2024.)
• $244.8B — Total Liabilities (Represents the company's total obligations as of June 30, 2024.)
• 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

• United Health Products, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $248,233,222 (dollar_amount) — Total assets as of June 30, 2024
• $244,783,222 (dollar_amount) — Total liabilities as of June 30, 2024
• NV (location) — State of incorporation
• Mesquite (location) — City of business address

FAQ

Key Financial Figures

• $0.35 — rity date at a price that is lower than $0.35 per share, the conversion price shall b

Filing Documents

• ueec_10q.htm (10-Q) — 686KB
• ueec_ex311.htm (EX-31.1) — 11KB
• ueec_ex312.htm (EX-31.2) — 11KB
• ueec_ex321.htm (EX-32.1) — 5KB
• ueec_ex322.htm (EX-32.2) — 5KB
• 0001477932-24-004723.txt ( ) — 3037KB
• ueec-20240630.xsd (EX-101.SCH) — 33KB
• ueec-20240630_lab.xml (EX-101.LAB) — 210KB
• ueec-20240630_cal.xml (EX-101.CAL) — 33KB
• ueec-20240630_pre.xml (EX-101.PRE) — 166KB
• ueec-20240630_def.xml (EX-101.DEF) — 90KB
• ueec_10q_htm.xml (XML) — 311KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 3 Condensed Statements of Operations for the Three and Six Months Ended June 30, 2024 and June 30, 2023 (unaudited) 4 Condensed Statement of Stockholders' Deficiency for the Three and Six Months Ended June 30, 2024 and June 30, 2023 (unaudited) 5 Condensed Statements of Cash Flows for the Six Months Ended June 30, 2024 and June 30, 2023 (unaudited) 7 Notes to Condensed 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 17 Item 3.

Quantitative and Qualitative Disclosures

Quantitative and Qualitative Disclosures 24 Item 4.

Controls and Procedures

Controls and Procedures 24

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 26

SIGNATURES

SIGNATURES 28 2 Table of Contents UNITED HEALTH PRODUCTS, INC. Condensed Balance Sheets June 30, December 31, 2024 2023 (Unaudited) ASSETS Current Assets Cash and cash equivalents $ 18,754 $ 95,420 Inventory - 33,598 Prepaid and other current assets 7,540 22,804 Total current assets 26,294 151,822 Deferred offering costs - 21,051 Operating lease right-of-use asset 62,169 76,520 Security deposit 2,850 2,850 Patents, net 30,375 32,400 TOTAL ASSETS $ 121,688 $ 284,643 Current Liabilities Accounts payable and accrued expenses $ 1,027,618 $ 987,567 Accrued liabilities - related parties 325,437 226,475 Operating lease liability - current 30,277 28,838 Convertible notes payable, net of debt discount 207,500 207,500 Convertible notes payable – related party, net of debt discount 500,000 500,000 Total current liabilities 2,090,832 1,950,380 Operating lease liability – long-term 33,277 48,489 TOTAL LIABILITIES 2,124,109 1,998,869 Commitments and Contingencies - - Stockholders' Deficit Series A Convertible Preferred Stock - $ 0.001 par value, 1,000,000 shares Authorized and 0 shares issued and outstanding - - Common Stock - $ 0.001 par value, 300,000,000 shares Authorized, 248,233,222 and 244,783,222 shares issued and outstanding at June 30, 2024 and December 31, 2023 248,233 244,783 Additional Paid-In Capital 75,332,515 74,740,201 Accumulated Deficit ( 77,583,169 ) ( 76,699,210 ) Total Stockholders' Deficit ( 2,002,421 ) ( 1,714,226 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 121,688 $ 284,643 See notes to unaudited condensed financial statements. 3 Table of Contents UNITED HEALTH PRODUCTS, INC. Condensed Statements of Operations (Unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Revenues $ - $ - $ - $ - Operating Costs and Expenses Sel

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View this 10-Q filing on SEC EDGAR