MartinLutherKing
10 hours ago
New is out brothers
FOXO TECHNOLOGIES, INC., PROVIDES UPDATE ON RECENT ACOMPLISHMENTS AND BUSINESS STRATEGY
MINNEAPOLIS, MN, Jan. 28, 2025 (GLOBE NEWSWIRE) -- FOXO Technologies Inc. (NYSE American: FOXO) (the “Company”), provides a brief shareholder letter from Seamus Lagan, recently appointed CEO of FOXO on what has been achieved in recent months and what is planned for 2025 and beyond.
Dear Fellow Shareholders,
Our recent shareholders meeting on January 17th concluded the requirements of 2024 acquisition agreements and resulted in a change of control of the Company. The accomplishments in the second half of 2024 have been key to what we believe is becoming a very successful turnaround of our Company and has created a foundation from which we believe we can build a significant and profitable revenue-driven enterprise.
We have gone from having minimal net revenues since inception to having acquired businesses that that with investment, have the potential to deliver in excess of $20 million of profitable net revenues per annum.
We disclosed a shareholders deficit in excess of $17 million at September 30, 2024 and subsequently restructured a significant amount of debt to equity in the fourth quarter to meet NYSE American continued listing rules that require in excess of $4 million in shareholders’ equity, an improvement of in excess of $21 million in shareholders’ equity. We continue to negotiate with debt holders and have recently disclosed additional transactions of approximately $6 million of further debt being converted to equity. The majority of these transactions have been completed by issuing convertible preferred stock that cannot currently be converted to free trading of our Class A common stock.
Our business strategy for 2025 is to grow our acquired rural hospital and behavioral health businesses and pursue a strategy to monetize our existing epigenetics division. We are also actively seeking and evaluating additional acquisition opportunities in the healthcare sector, including senior living, which we may or may not be able to complete.
Current points of interest:
We look forward to the timely filing of our 2024 audited financials in our Form 10-K.
We are considering our options for the capital required to execute on our business strategy.
We will continue to negotiate the potential exchange of existing debt and other liabilities to equity to improve our balance sheet.
We are in preliminary discussions that may lead to additional acquisitions that we believe will increase shareholder value, however we have not reached agreement to complete any additional acquisitions at this time and we may not succeed in doing so.
We are in the process of restructuring our web site and social media and online presence to better inform our shareholders and interested parties of our services and ongoing accomplishments and provide details of our management team, Board of Directors and governance policies. We expect these work steps will be completed in the next 30-60 days
We operate three businesses;
Epigenetics: FOXO Lab’s., remains a pioneer in epigenetic biomarker discovery and commercialization. Our mission is to extend and enhance human life through advanced prognostics, therapeutic solutions, and lifestyle improvements. We have generated epigenetic data for over 13,000 individuals through internal research and external collaborations. This extensive dataset, paired with broad phenotypic information means the Company is well positioned for continued innovation and business growth in the rapidly evolving field of AI-driven healthcare and life span solutions. By combining the fields of epigenetics and artificial intelligence, FOXO Labs’ pioneering approach sets a new standard for personalized healthcare. The Company is now positioned to launch a direct-to-consumer prognostic that will provide actionable information and guidance to improve well-being and life span.
We will continue to consider all options to create value for our shareholders from this business, which may include a spin out at a time in the future if it is viable to do so. For more information about our technology, visit www.foxotechnologies.com
Myrtle Recovery Centers, Inc., operates a 30-bed behavioural health facility in East Tennessee. It provides inpatient services for Detoxification and Residential Treatment and outpatient services for Medication-assisted treatment (MAT) and Office-Based Opioid Treatment (OBOT) programs. The facility was opened in August 2023 and has secured in-network contracts with various insurance company payors. We anticipate growing this business to having profitable annual net revenues of approximately $3-4M and plan to replicate the service delivery model in other locations. More recently, we have seen significant increases in census as marketing efforts have intensified and additional payor contracts have been executed. Further information can be found at www.myrtlerecoverycenters.com
In the third quarter of 2024 we completed the acquisition of Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center), a critical access designated (CAH) hospital located in East Tennessee. The hospital provides emergency services, outpatient services (including laboratory and radiology services) and inpatient services. We are considering options available to us to open additional hospital facilities at other locations in East Tennessee. Further information can be found at www.bsfmedical.com
The accomplishments of FOXO in recent months have resulted in a significant turnaround and created a number of attractive opportunities for the Company and its shareholders. We have challenges to overcome and objectives to achieve for 2025 and remain thankful for the continued support from our shareholders. My management team and I will endeavor to deliver results and accomplishments we can all be proud of and enjoy.
Sincerely
Seamus Lagan, CEO
About FOXO Technologies Inc. (“FOXO”)
FOXO owns and operates three subsidiaries.
Foxo Lab’s, Inc. is a biotechnology company dedicated to improving human health and life span through the development of cutting-edge technology and product solutions for various industries.
Myrtle Recovery Centers, Inc., a 30-bed behavioural health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs.
Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical), a critical access designated (CAH) hospital in East Tennessee.
MartinLutherKing
10 hours ago
Epigenetics: FOXO Lab’s., remains a pioneer in epigenetic biomarker discovery and commercialization. Our mission is to extend and enhance human life through advanced prognostics, therapeutic solutions, and lifestyle improvements. We have generated epigenetic data for over 13,000 individuals through internal research and external collaborations. This extensive dataset, paired with broad phenotypic information means the Company is well positioned for continued innovation and business growth in the rapidly evolving field of AI-driven healthcare and life span solutions. By combining the fields of epigenetics and artificial intelligence, FOXO Labs’ pioneering approach sets a new standard for personalized healthcare. The Company is now positioned to launch a direct-to-consumer prognostic that will provide actionable information and guidance to improve well-being and life span.
We will continue to consider all options to create value for our shareholders from this business, which may include a spin out at a time in the future if it is viable to do so. For more information about our technology, visit www.foxotechnologies.com
MartinLutherKing
5 days ago
And Now Trump Says He Has a $500 Billion AI Cure for Cancer Micro RNA Epigenetics AI brothers
The Stargate Project is a new company which intends to invest $500 billion over the next four years building new AI infrastructure for OpenAI in the United States. We will begin deploying $100 billion immediately. This infrastructure will secure American leadership in AI, create hundreds of thousands of American jobs, and generate massive economic benefit for the entire world. This project will not only support the re-industrialization of the United States but also provide a strategic capability to protect the national security of America and its allies.
The initial equity funders in Stargate are SoftBank, OpenAI, Oracle, and MGX. SoftBank and OpenAI are the lead partners for Stargate, with SoftBank having financial responsibility and OpenAI having operational responsibility. Masayoshi Son will be the chairman.
Arm, Microsoft, NVIDIA, Oracle, and OpenAI are the key initial technology partners. The buildout is currently underway, starting in Texas, and we are evaluating potential sites across the country for more campuses as we finalize definitive agreements.
As part of Stargate, Oracle, NVIDIA, and OpenAI will closely collaborate to build and operate this computing system. This builds on a deep collaboration between OpenAI and NVIDIA going back to 2016 and a newer partnership between OpenAI and Oracle.
This also builds on the existing OpenAI partnership with Microsoft. OpenAI will continue to increase its consumption of Azure as OpenAI continues its work with Microsoft with this additional compute to train leading models and deliver great products and services.
All of us look forward to continuing to build and develop AI—and in particular AGI—for the benefit of all of humanity. We believe that this new step is critical on the path, and will enable creative people to figure out how to use AI to elevate humanity.
Money hunt
7 days ago
It’s ready FOXO Technologies to Unveil VITHAR™ AI Health Coach; Schedules Webinar for Friday, November 10th at 10 AM Eastern Time
November 08, 2023 09:00 AM Eastern Standard Time
MINNEAPOLIS--(BUSINESS WIRE)--FOXO Technologies Inc. (NYSE American: FOXO) (“FOXO” or the “Company”), a leader in the field of epigenetic biomarker technology, today announced that it will host a webinar on Friday, November 10, 2023, at 10 AM Eastern Time, which will be available on the Company’s website at https://foxotechnologies.com/.
The Company plans to unveil its new direct-to-consumer (DTC) app, the VITHAR™ AI Health Coach, which is designed to intake health data from available APIs already on the user's mobile and wearable devices, and combine this data with the individual’s epigenetic data through the Company’s proprietary epigenetic data and algorithms. The new DTC offering will leverage KR8’s AI ecosystem to provide users with actionable health insights and coaching.
Mark White, Interim CEO of FOXO Technologies, stated, “The FOXO and KR8 teams have been working tirelessly to develop the new VITHAR™ AI Health Coach. Current apps on the market provide basic DNA profiling and potential risk factors. However, by leveraging the power of FOXO’s patented epigenetic algorithms and data, we look forward to launching this new consumer-facing app, to provide unprecedented insight and easy-to-follow, personalized advice, based on epigenetic data to improve the user’s overall health and longevity. We look forward to unveiling the full offering in our upcoming webinar.”
About FOXO Technologies Inc. (“FOXO”)
FOXO, a technology platform company, is a leader in epigenetic biomarker discovery and commercialization focused on commercializing longevity science through products and services that serve multiple industries. FOXO's epigenetic technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. For more information about FOXO, visit www.foxotechnologies.com. For investor information and updates, visit https://foxotechnologies.com/investors/.
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