Endovia Health Sciences (EDVA) Registration filing summary

Company overview and business model

• Transitioned from beverage brand acquisition to a cannabinoid health sciences platform in 2026, focusing on pharmaceutical, wellness, and veterinary cannabinoid products.

• Acquired exclusive worldwide rights to CannEpil®, a cannabinoid-based therapy for drug-resistant epilepsy and related neurological conditions, with expanded use for veterinary oncology and pain management.

• Entered into a collaboration to develop CannEpil® for veterinary use in the U.S., targeting FDA approval and commercialization.

• Strategic pivot includes investments in cannabinoid-focused companies and divestiture of legacy beverage operations.

Financial performance and metrics

• Reported net loss of $25.3 million for 2025, with recurring operating losses and negative cash flows.

• Revenues declined sharply: $0.07 million in 2025 vs. $0.8 million in 2024, due to loss of beverage sales and lack of working capital.

• As of June 30, 2026, cash and cash equivalents were $242,702, insufficient for 12 months of operations.

• Working capital deficit and substantial doubt about ability to continue as a going concern, as noted by auditors.

• Significant liabilities include convertible notes, preferred stock, and legal settlements.

Use of proceeds and capital allocation

• May receive up to $30.8 million in gross proceeds from equity line of credit (ELOC) with C/M Capital, depending on share sales and market price.

• Proceeds intended for working capital, resolving disputes, satisfying payables, and general corporate purposes, with flexibility in allocation.

• 30% of proceeds above $3 million from ELOC must be used to repay outstanding promissory notes.

• At least $2 million needed over the next 12 months for CannEpil® development and general expenses.