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United Health Products, Inc.

For the period ended Dec 31, 2024. Filed Mar 28, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 28, 2025

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

FOR THE FISCAL YEAR ENDED:DECEMBER 31, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM ____________ TO ____________

COMMISSION FILE NUMBER:000-27781

UNITED HEALTH PRODUCTS, INC.

(Exact name of Registrant as specified in its charter)

Nevada84-1517723
(State of jurisdiction of incorporation or organization)(I.R.S. Employee Identification Number)
520 Fellowship Road, Suite #D-406Mt. Laurel, NJ08054
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:(475)755-1005

Securities registered pursuant to Section 12 (b) of the Act:

Title of each classTrading SymbolName of each exchange on which registered
NoneNoneNone

Securities registered pursuant to Section 12 (g) of the Act:Common Stock, $0.001 Par Value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No ☒

Check whether the Registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act. Yes ☐No ☒

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, a 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 filer☐
Non-accelerated Filer☒Smaller 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. Yes ☐ No ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No ☒

As of June 30, 2024, the number of shares held by non-affiliates was approximately 243,814,822 shares. The approximate market value based on the last sale (i.e. $0.165 per share as of June 30, 2024, the last business day of the second quarter) of the Company’s Common Stock was approximately $40,229,446.

The number of shares issued and outstanding of the Registrant’s Common Stock, as of March 26, 2025 was 252,408,222.

United Health Products, Inc.

Annual Report on Form 10-K

For the Year Ended December 31, 2024

TABLE OF CONTENTS

Part I · Page
Item 1Business4
Item 1ARisk Factors8
Item 1BUnresolved Staff Comments14
Item 1CCybersecurity15
Item 2Properties15
Item 3Legal Proceedings15
Item 4Mine Safety Disclosures15
Part II
Item 5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities16
Item 6[Reserved]18
Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations18
Item 7AQuantitative and Qualitative Disclosures about Market Risk21
Item 8Financial Statements and Supplementary DataF-1
Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure22
Item 9AControls and Procedures22
Item 9BOther Information23
Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections23
Part III
Item 10Directors, Executive Officers and Corporate Governance24
Item 11Executive Compensation Discussion and Analysis28
Item 12Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters30
Item 13Certain Relationships and Related Transactions and Director Independence32
Item 14Principal Accounting Fees and Services33
Part IV
Item 15Exhibits and Financial Statement Schedules34
Signatures36

Forward-Looking Statements

Statements in this annual report on Form 10-K that are not historical facts constitute forward-looking statements which are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Those factors include, among other things, those listed under “Risk Factors” and elsewhere in this annual report. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. Moreover, neither we nor any other person assumes responsibility.

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