Odyssey Health, Inc. Issues Q3 2026 Financials: Key Highlights for Investors
Odyssey Health, Inc. (OTC: ODYY) has released its quarterly Form 10-Q for the period ended April 30, 2026. The report provides a comprehensive look at the company’s financial position, operating performance, and ongoing challenges. Investors and shareholders should pay close attention to several critical areas that may impact share value and are potentially price-sensitive.
Key Financial Highlights
- Continued Net Losses: The company reported a net loss of \$765,890 for the quarter and a cumulative net loss of \$9,749,657 for the nine months ended April 30, 2026. This continues a pattern of losses, underscoring the company’s ongoing struggle to achieve profitability.
- Negative Stockholders’ Equity: Odyssey Health ended the quarter with a negative stockholders’ deficit of (\$9,749,657), an increase from (\$6,954,698) at July 31, 2025. The accumulated deficit now stands at \$66,065,017. This level of deficit signals significant financial risk and raises concerns about solvency.
- Cash Position: Total assets are minimal, with \$373,779 at April 30, 2026, up from \$49,723 at July 31, 2025. The improvement comes mainly from funding activities, but the cash position remains weak relative to liabilities.
- Liabilities: Current liabilities, including accounts payable and accrued wages, total \$1,484,536. The company’s liabilities vastly exceed its assets, intensifying liquidity challenges.
- Share Issuance: The company issued common stock during the period for conversion of accrued interest, fees, and convertible securities. Share count increased, with 100,968,686 shares of common stock outstanding as of June 12, 2026. Stock-based compensation for the period was minimal, with no material expense recorded for the latest quarter.
- Earnings Per Share: Basic and diluted net loss per share for the nine months was (\$0.03), compared to (\$0.01) for the prior year. The weighted average number of shares outstanding for basic EPS was 107,299,314 for the period, showing dilution due to continued share issuance.
Operational and Strategic Update
- Business Model and Activities: Odyssey Health’s mission is to create or acquire medical assets and technologies with clinical utility. The company continues to develop two technologies—CardioMap heart monitoring and screening, and a concussion drug (PRV-002). Both are in clinical development, with ongoing efforts to secure partnerships and funding for advancement.
- Segment Reporting: Odyssey operates as a single reportable segment under ASC 280, focused on medical technology development.
- Going Concern Warning: Management has issued a substantial doubt about the company’s ability to continue as a going concern. The report explicitly states that recurring losses, negative cash flows, and accumulated deficit may force the company to scale down or cease operations if additional capital is not raised, debt financing not secured, or strategic partners not found.
- Financing Activities: The report notes ongoing efforts to raise capital and warns of potential dilution if equity financing is pursued. If commercial loans are obtained, liabilities will increase, impacting future cash flows. These risks are critical for shareholders.
- Non-Cash Financing: Non-cash activities include common stock issued for conversion of outstanding principal and accrued interest. For the nine months, \$194,040 was issued for principal conversion, and \$420 for accrued interest.
Regulatory and Accounting Updates
- New Accounting Pronouncements: The company will adopt FASB ASU 2023-09 (Income Tax Disclosures) and ASU 2024-03 (Disaggregation of Income Statement Expense) in coming fiscal years. These changes will expand disclosure requirements but are not expected to have a material impact on financial statements.
Price-Sensitive Considerations for Shareholders
- Material Weaknesses: The ongoing losses, negative equity, and doubts about continued operations are highly price-sensitive. If Odyssey Health cannot secure new funding or strategic partnerships, there is a risk of bankruptcy or further dilution, which could significantly impact share value.
- Liquidity Risk: The company’s low asset base and high liabilities create an immediate liquidity risk. Any news of successful fundraising or partnership could positively affect the share price, while continued losses or inability to raise capital could trigger significant declines.
- Potential Dilution: Shareholders should be aware that additional equity financing may result in significant dilution of their holdings. The company’s strategy to issue shares as part of financing activities has already increased the outstanding share count and is likely to continue.
Other Notable Items
- Derivative Liabilities: The company uses fair value measurements for derivative liabilities associated with warrants and convertible securities, with high expected stock price volatility rates (over 200%) used in calculations. These instruments add complexity and risk to the capital structure.
- No Material Commitments or Contingencies: The report notes no material commitments or contingencies for the latest period.
- No Stock-Based Compensation Expense: Despite the issuance of options and warrants, no stock-based compensation expense was reported for the latest nine-month period.
Conclusion
Odyssey Health, Inc.’s latest quarterly report is dominated by ongoing financial distress, negative equity, substantial liquidity challenges, and doubts about continued operations. These factors are highly material and price-sensitive, creating heightened risks for shareholders. Any developments regarding fundraising, strategic partnerships, or regulatory milestones could materially affect the share price. Investors should monitor news closely and be aware of the risk of dilution or insolvency.
Disclaimer: This article is based on Odyssey Health, Inc.’s Form 10-Q for the quarter ended April 30, 2026. It does not constitute investment advice. Investors should conduct their own research and consult professional advisors before making investment decisions. The company’s financial position, ongoing losses, and going concern warning indicate significant risk.
