v3.26.3
OPERATING SEGMENTS
 12 Months Ended
Jun. 30, 2026
OPERATING SEGMENTS  
OPERATING SEGMENTS

4. OPERATING SEGMENTS

 

Operating segments are defined as components of an entity for which separate financial information is available that is regularly reviewed by the chief operating decision maker (“CODM”). The CODM is the Chief Executive Officer. The CODM uses segment net income from operations to assess the performance of, manage the operations of, and allocate capital and operational resources to the Company’s reportable operating segments. The Company does not allocate assets to the reporting segments as its assets are primarily managed on an entity-wide basis and therefore does not disclose the total assets of its reportable operating segments.

 

Prior to June 11, 2025, the Company operated as a single operating segment, focusing on distributing pharmaceutical products, particularly GLP medications for weight loss and diabetes management.

 

Starting June 11, 2025, the Company has two reportable segments, focusing on distributing pharmaceutical products, particularly GLP medications for weight loss and diabetes management and developing real estate opportunities, designed to attract healthcare providers and wellness clinic operators.

 

For the years ended June 30, 2026 and 2025, there were no intersegment revenues or costs of revenues that needed to be eliminated in the Consolidated Statements of Operations.

 

The pharmaceutical products distribution company generates revenue through commissions and online sales. Real estate development company generates revenue through rental income.

  

The following table illustrates segment revenue and segment net income from operations, including significant expense items reviewed by the CODM for the year ended June 30, 2026.

 

 

 

Pharmaceutical Products Distribution

 

 

Real Estate Development

 

 

Total

 

Revenue

 

$437,857

 

 

$90,000

 

 

$527,857

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenues - rent

 

 

-

 

 

 

31,025

 

 

 

31,025

 

General and administrative [1]

 

 

1,627,840

 

 

 

32,500

 

 

 

1,660,340

 

Depreciation and amortization

 

 

24,497

 

 

 

9,524

 

 

 

34,021

 

Impairment expense

 

 

-

 

 

 

38,966

 

 

 

38,966

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment net income (loss) from operations

 

$(1,214,480 )

 

$(22,015 )

 

$(1,236,495 )

 

[1]

General and administrative costs consist mainly of professional fees, salaries and wages, executive compensation, information technology and software, and other payment processing fees.

 

The following table illustrates the reconciliation of segment operating income to net income before taxes for the year ended June 30, 2026.

 

 

 

June 30,

2026

 

Segment loss from operations

 

$

(1,236,495

)

 

 

 

 

 

Reconciling items

 

 

 

 

Other income

 

 

10,770

 

Interest expense

 

 

(52,329 )

Loss on exchange of Series C & D preferred shares

 

 

(241,918 )

 

 

 

 

 

Net income (loss) from continued operations before income taxes

 

$

(1,519,972

)