MGRX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-19

• We currently anticipate using funding we may raise in the near term to finance marketing and general operational expenses associated with the sale of our Pharmaceutical Products. We launched our website in mid-November 2022.

• Our Compounded Products have been formulated as rapid dissolving tablets (RDT) using a sublingual (applied under the tongue) delivery system to bypass the stomach and liver. It is a generally established principle that sublingual drug absorption through the oral mucosa is generally faster than drug …

• We had a working capital deficit of approximately $0.5 million and working capital of $0.7 million as of March 31, 2026 and December 31, 2025, respectively. With our current cash on hand, expected revenues, and based on our current average monthly expenses, we currently anticipate the need for addit…

• We had revenues of $67,864 for the three months ended March 31, 2026, compared to revenues of $109,306 for the three months ended March 31, 2025, which decrease was mainly due to our focus on in-house website development and testing of new TRT product in specific markets prior to full launch.

• Cost of revenues was $8,218 and $24,737 for the three months ended March 31, 2026 and 2025, respectively, which increase was due to fluctuations in third-party service provider usage, product promotions and delivery costs during the current period.

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• ● Recent Events. A summary of recent events affecting the Company.

• In addition to the recent funding events and agreements described in greater detail below under “Liquidity and Capital Resources— Funding Arrangements”, the following material transactions took place during the nine months ended September 30, 2025 and from July 1, 2025 through the filing of this Rep…

• On March 24, 2025, the Company entered into a Master Distribution Agreement (the “Navy Wharf MDA”), with Navy Wharf, Ltd (“Navy Wharf”). Pursuant to the Navy Wharf MDA, the Company was granted the exclusive licensing rights to certain intellectual property and patent rights from Navy Wharf relating …

• We agreed pursuant to the Navy Wharf MDA to issue Navy Wharf 1,000,000 shares of the Company’s restricted common stock (the “Navy Shares”) and 10% of the net sales revenue (as described in greater detail in the Navy Wharf MDA) we generate during the term of the Navy Wharf MDA. The term of the Navy W…

• On July 30, 2025, the Company entered into a Mutual Rescission and Release Agreement (the “Navy Wharf Rescission Agreement”) with Navy Wharf, pursuant to which the Company and Navy Wharf agreed to terminate and rescind the MDA, effective as of July 30, 2025, each of the parties provided mutual relea…

Text added vs the prior filing · source: 10-Q · 2026-05-19

• We are not currently in compliance with Nasdaq’s continued listing requirements and there is no guarantee that our common stock will continue to trade on the Nasdaq Capital Market.

• Our common stock is currently listed on Nasdaq under the symbol “MGRX”. There is no guarantee that we will be able to maintain our listing on Nasdaq for any period of time. Among the conditions required for continued listing on Nasdaq, Nasdaq requires us to maintain at least $2.5 million in stockhol…

• On February 4, 2026, the Company received written notice (the “Notification Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirements set forth in Nasdaq Listing Rule 5550(a…

• Nasdaq Listing Rule 5810(c)(3)(A)(iv) provides that if a listed company’s security fails to meet the Minimum Bid Price Requirement and (a) the Company has effected a reverse stock split over the prior one-year period; or (b) has effected one or more reverse stock splits over the prior two-year perio…

• Effective on October 8, 2024 at 12:01 a.m. Eastern Time, we affected a 1-for 15 reverse stock split of our then outstanding common stock (the “October 2024 Reverse Stock Split”), to cure our non-compliance with the Minimum Bid Price Requirement. As a result, if we fail to meet the Minimum Bid Price …

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• We face risks in connection with the current governmental shutdown.

• The Company’s operations, clinical trials, and commercialization efforts are subject to extensive regulation by U.S. federal and state agencies, including the U.S. Food and Drug Administration (“FDA”). Any continued interruption in government operations as a result of the current government shutdown…

• Additionally, a government shutdown may delay or interrupt the issuance of regulatory guidance, approvals for advertising claims, or inspections of manufacturing facilities, which could result in delayed product launches, halted production, or increased compliance costs.

• The Company is also subject to other risks associated with government actions, including changes in healthcare, telemedicine, and pharmaceutical regulations. Such changes could affect our ability to market, sell, or distribute our products online or across state lines. Further, any interruption in f…

• Separately, the Company may, from time to time, seek to raise additional capital through public offerings of its securities or file registration statements with the SEC in connection with such offerings. Any closure of the SEC, whether due to a government shutdown (such as is currently ongoing), ope…

Text added vs the prior filing · source: 10-Q · 2026-05-19

• (a) Form 8-K Information. On May 18, 2026, M&P and Jacob Cohen, the Company’s Chief Executive Officer and Chairman, entered into a Clarification Agreement (the “Clarification Agreement”), effective as of May 13, 2025 (the date the M&P shares were originally issued to Mr. Cohen), clarifying the econo…

• The Clarification Agreement confirms that it was never the intent of the parties that Mr. Cohen would participate in, bear responsibility for, or otherwise be allocated any losses, liabilities, negative capital accounts, deficits, indebtedness, obligations, or other negative economic attributes of M…

• (c) Rule 10b5-1 Trading Plans. Our directors and executive officers may from time to time enter into plans or other arrangements for the purchase or sale of our shares that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or may represent a non-Rule 10b5-1 trading arrange…

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• (c) Rule 10b5-1 Trading Plans. Our directors and executive officers may from time to time enter into plans or other arrangements for the purchase or sale of our shares that are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or may represent a non-Rule 10b5-1 trading arrange…