Odyssey Health, Inc.
For the period ended Jan 31, 2025. Filed Mar 14, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2025 · Filed Mar 14, 2025
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-10-31; filed 2024-12-16.
0001683168-24-008756
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-01-31; filed 2025-03-14.
0001683168-25-001617
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 41 previous paragraphs and 40 current paragraphs.
28 unchanged; 8 reworded; 4 added; 5 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 6 previous and 7 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (4)
Current report
Research and Development Expense
Current report
We are not currently working on any projects and, therefore, we did not have any Research and development expense in the three or six months ended January 31, 2025.
Current report
The decreases in Stock-based compensation for the three and six month periods ended January 31, 2025 compared to the same periods of 2024 were due to no options granted in the three and six month periods ended January 31, 2025 and fewer unvested awards outstanding.
Current report
The decreases in interest expense in the three and six month periods ended January 31, 2025, compared to the same periods of 2024 were due to lower amortization of beneficial conversion feature, debt discount and debt issuance costs, partially offset by higher average debt outstanding and higher average interest rates.
Removed paragraphs (5)
Previous report
Research and Development
Previous report
Currently, we are not working on any research and development projects.
Previous report
The decrease in stock-based compensation was due to fewer awards issued in recent quarters as well as a lower price for our common stock.
Previous report
Unrealized Losses on Investment
Previous report
Unrealized losses on investment in relates to the valuation of the common stock of Oragenics held by us as an investment. See Notes 3 and 4 of Notes to Consolidated Financial Statements for additional information.
Reworded paragraphs (8)
Previous wording
On August 14, 2024, we entered into a $300,000 promissory note (the “Note”) with an accredited investor. The $300,000 was received on August 22, 2024. The Note has a one-year maturity, becoming due on August 22, 2025, and bears interest at the rate of 18% per annum. In addition, we issued the investor a warrant to purchase 300,000 shares of our common stock at $0.10 per share that expires August 14, 2029, with a fair value of $13,343. At October 31, 2024, $300,000 in principal and $11,539 in accrued interest remained outstanding.
Current wording
On August 14, 2024, we entered into a $300,000 promissory note (the “Note”) with an accredited investor. The $300,000 was received on August 22, 2024. The Note has a one-year maturity, becoming due on August 22, 2025, and bears interest at the rate of 18% per annum. In addition, we issued the investor a warrant to purchase 300,000 shares of our common stock at $0.10 per share that expires August 14, 2029, with a fair value of $13,343. At January 31, 2025, $300,000 in principal and $26,149 in accrued interest remained outstanding.
Previous wording
See Note 1 of Notes to Consolidated Financial Statements.
Current wording
See Note 1 of Notes to Condensed Consolidated Financial Statements.
Previous wording
During the three months ended October 31, 2024, there were no significant changes to our significant accounting policies and estimates as described in Note 2.Summary of Significant Accounting Policies included in Part II, Item 8. of our Annual Report on Form 10-K for the year ended July 31, 2024, which was filed with the SEC on November 13, 2024.
Current wording
During the six months ended January 31, 2025, there were no significant changes to our significant accounting policies and estimates as described in Note 2.Summary of Significant Accounting Policies included in Part II, Item 8. of our Annual Report on Form 10-K for the year ended July 31, 2024, which was filed with the SEC on November 13, 2024.
Previous wording
We do not currently sell or market any products and we did not have any revenue in the three-month periods ended October 31, 2024 or 2023. We will commence actively marketing products after the products and drugs in development have been FDA cleared or approved, but there can be no assurance, however, that we will be successful in obtaining FDA clearance or approval for our products.
Current wording
We do not currently sell or market any products and we did not have any revenue in the three or six-month periods ended January 31, 2025 or 2024. We will commence actively marketing products after the products and drugs in development have been FDA cleared or approved, but there can be no assurance, however, that we will be successful in obtaining FDA clearance or approval for our products.
Previous wording
Research and development relates to our current projects and includes expenses for clinical research, design and manufacturing, formulation, regulatory and consultants.
Current wording
Our Research and development expense includes expenses related to our current projects and include clinical research, design and manufacturing, formulation, regulatory and consultants.
Previous wording
The change in General and administrative expense was due to the following:
Current wording
The decreases in General and administrative expense were due to the following:
Previous wording
The decreases in wages and business development and investor relations were due to fewer employees and lower activity throughout the company.
Current wording
The decreases in wages and business development and investor relations were due to fewer employees and lower activity throughout the company. The decrease in legal and professional fees was due to lower legal fees incurred.
Previous wording
Interest expense includes interest on debt outstanding, as well as the amortization of debt discount and debt issuance costs. Certain information regarding debt outstanding was as follows:
Current wording
Interest expense includes interest on debt outstanding, as well as the amortization of beneficial conversion feature, debt discount and debt issuance costs. Certain information regarding debt outstanding was as follows: