Dear Valued Shareholders,
We are pleased to provide the following updates on recent developments and financial matters.
On May 19, 2025, the MediXall Group Inc 10-Q for the first quarter of 2024 was filed with the U.S. Securities and Exchange Commission. You can access and review this 10-Q by going to the Investor Update under the Investor Relations tab at https://www.healthkarmagroup.com/ .
Below are 2 significant excerpts from this filing:
During 2023, the Company underwent a nearly complete change in the Board of Directors and management resulting in a substantial transformation of the Company’s focus, product offerings, and channel emphasis. This shift has led to significant financial growth, with revenue of $118,142 in the first quarter of 2024 surpassing that of the same period in 2023 of $77,866, an increase of 52% and exceeded the total revenue for the entire year of 2022 by almost 100%.
Moreover, the Company successfully reduced its net loss in the first three months of 2024 by $734,895 from the same period in 2023. The net loss for the three months ended March 31, 2024, was $486,600 versus $1,221,495 for the same period in 2023.This is the result of the new management taking decisive steps to reduce costs by moving its corporate office, continuing the remote work strategy started under pandemic conditions, dramatically reducing the number of employees by procuring out-sourced marketing expertise, its User Experience/User Interface (UX/UI) platform, its IT development and maintenance, and the use of independent sales consultants and brokers.
Our team is working diligently with our auditors and anticipate the remaining 2024 10-Q reportswill be filed shortly. We appreciate your patience and understanding as we prioritize accuracyand compliance in this process.
Closing Remarks:
We remain steadfast in our focus on driving growth, fostering innovation, and delivering value to our stakeholders. Thank you for your continued support and confidence in our mission as we work to create meaningful impact and achieve long-term success.
For further inquiries, please contact us via:
• Email: IR@healthkarmagroup.com
• Investor Relations Tab: https://www.healthkarmagroup.com/
Yours in health and progress,
Health Karma Investor Relations
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