6-K 1 form6-k.htm 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2025

 

 

 

Mobile-health Network Solutions

 

2 Venture Drive, #07-06/07 Vision Exchange

Singapore 608526

+65 6222 5223

(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒        Form 40-F ☐

 

 

 

 

 

 

Mobile-health Network Solutions Announces Unaudited Interim 2024 Financial Results

 

Mobile-health Network Solutions (the “Company”) (Nasdaq: MNDR), an established technology-driven facilities services provider in the public and private sectors operating mainly in Singapore, today announced its unaudited financial results for the six months ended December 31, 2024. A copy of the press release relating to the above matter is set forth in Exhibit 99.1, which is being furnished herewith.

 

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Mobile-health Network Solutions and Subsidiaries

Condensed Consolidated Balance Sheets

 

   December 31, 2024   June 30, 2024 
   US$   US$ 
   (Unaudited)     
ASSETS          
Current assets          
Cash and cash equivalents   2,573,095    6,707,695 
Accounts receivable, net   8,580    111,066 
Inventories, net   121,946    163,993 
Other current assets   171,992    222,737 
Amount due from related parties   151,318    83,563 
Total current assets   3,026,931    7,289,054 
           
Non-current assets          
Property and equipment, net   208,553    216,047 
Intangible assets, net   813,469    18,952 
Operating leases right-of-use assets   251,061    370,607 
Other assets   -    55,955 
Total non-current assets   1,273,083    661,561 
           
TOTAL ASSETS   4,300,014    7,950,615 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
Current liabilities          
Accounts payable   742,198    1,671,201 
Accruals and other payables   285,100    1,078,094 
Amount due to officers   134,564    133,544 
Amount due to related parties   107,671    35,367 
Operating lease liabilities, current   214,455    240,090 
Total current liabilities   1,483,988    3,158,296 
           
Non-current liabilities          
Amount due to officers   230,227    516,946 
Operating lease liabilities   40,984    135,920 
Total non-current liabilities   271,211    652,866 
           
TOTAL LIABILITIES   1,756,199    3,811,162 
           
COMMITMENTS AND CONTINGENCIES          
           
SHAREHOLDERS’ EQUITY          
Ordinary shares, Class A, $0.000032 par value, 781,250,000 shares authorized, 2,801,684 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively*   89    89 
Ordinary shares, Class B, $0.000032 par value, 781,250,000 shares authorized, 1,509,781 shares issued and outstanding as of December 31, 2024 and June 30, 2024, respectively*   49    49 
Additional paid-in capital   28,466,888    28,466,888 
Accumulated deficit   (26,411,673)   (24,755,793)
Accumulated other comprehensive income   488,462    428,220 
Total shareholders’ equity   2,543,815    4,139,453 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   4,300,014    7,950,615 

 

* Retroactively restated to give effect to a share consolidation at a ratio of 1:8 ordinary shares effective on February 28, 2025.

 

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Mobile-health Network Solutions and Subsidiaries

Unaudited Condensed Consolidated Statements of Operations and other Comprehensive Loss

 

   For the Six Months Ended
December, 31
 
   2024   2023 
   US$   US$ 
Revenue   4,275,874    6,643,842 
Cost   (3,640,935)   (5,435,300)
           
Gross profit   634,939    1,208,542 
           
Operating expenses:          
Salaries and benefits   (1,200,234)   (1,601,884)
Share-based compensation   -    (227,684)
Depreciation and amortization   (67,051)   (73,066)
Selling, general and administrative   (1,117,271)   (769,985)
Total operating expenses   (2,384,556)   (2,672,619)
           
Other income:          
Other income, net   93,737    2,378 
Total other income, net   93,737    2,378 
           
Loss before income tax expense   (1,655,880)   (1,461,699)
           
Income tax expense   -    - 
Net loss   (1,655,880)   (1,461,699)
           
Other comprehensive income:          
Foreign currency translation, net of income tax   60,242    458 
Comprehensive loss   (1,595,638)   (1,461,241)
           
Net loss per share*          
Basic and diluted   (0.37)   (0.45)
           
Weighted average number of ordinary shares*          
Basic and diluted   4,311,465    3,272,144 

 

* Retroactively restated to give effect to a share consolidation at a ratio of 1:8 ordinary shares effective on February 28, 2025.

 

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Safe Harbor Statements

 

This filing contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s ability to execute our strategies, manage growth and maintain our corporate culture; the Company’s future business development, financial conditions and results of operations; expectations regarding demand for and market acceptance of our products and services; changes in technology; economic conditions; the growth of the telehealth solutions industry in Singapore and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing, other factors beyond our control and other risks contained in reports filed by the Company with the SEC. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this report and in the attachments is as of the date of this report, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Mobile-health Network Solutions
     
Date: June 13, 2025 By: /s/ Siaw Tung Yeng
  Name:  Siaw Tung Yeng
  Title: Chief Executive Officer

 

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EXHIBIT INDEX

 

Exhibit No.   Description
99.1  

Mobile-health Network Solutions Announces H1 FY2025 Results; Continues on Drive Towards Scale and Profitability

 

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