United Health Products, Inc 10-Q for FY2025 Q3

United Health Products, Inc. (UEEC)

10-Q 2025-11-14 For: 2025-09-30

Added on April 07, 2026

About this 10-Q

United Health Products, Inc filed this 10-Q on November 14, 2025, covering the quarter ended September 30, 2025 (FY2025 Q3).

Headline figures

Quarter ended September 30, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $0; compared with $0 a year earlier
Net loss: $285.59K; compared with a net loss of $303.66K a year earlier
Diluted EPS: $0.00; compared with $0.00 a year earlier

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		PAGE
PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements (Unaudited)

	Condensed Balance Sheets as of September 30, 2025 (unaudited) and December 31, 2024	3

	Condensed Statements of Operations for the Three and Nine Months Ended September 30, 2025 and September 30, 2024 (unaudited)	4

	Condensed Statement of Stockholders’ Deficiency for the Three and Nine Months Ended September 30, 2025 and September 30, 2024 (unaudited)	5

	Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2025 and September 30, 2024 (unaudited)	7

	Notes to Condensed Financial Statements (unaudited)	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	20

Item 3.	Quantitative and Qualitative Disclosures	27

Item 4.	Controls and Procedures	27

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings	28

Item 1A.	Risk Factors	28

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	28

Item 3.	Defaults Upon Senior Securities	28

Item 4.	Mine Safety Disclosures	28

Item 5.	Other Information	28

Item 6.	Exhibits	29

SIGNATURES		30

	September 30,			December 31,
	2025			2024
	(Unaudited)
ASSETS
Current Assets
Cash and cash equivalents	$	18,376		$	168,883
Prepaid and other current assets		24,753			22,800
Total current assets		43,129			191,683

Operating lease right-of-use asset		23,021			47,096
Security deposit		2,850			2,850
Patents, net		25,313			28,350
TOTAL ASSETS	$	94,313		$	269,979

Current Liabilities
Accounts payable and accrued expenses	$	1,065,293		$	830,672
Accrued liabilities - related parties		233,842			168,649
Accrued compensation		683,267			608,500
Operating lease liability - current		23,954			33,331
Total current liabilities		2,006,356			1,641,152

Convertible notes payable, net of debt discount		927,500			557,500
Convertible notes payable – related party, net of debt discount		500,000			500,000
Operating lease liability – long-term		-			15,158
TOTAL LIABILITIES		3,433,856			2,713,810

Commitments and Contingencies		-			-
Stockholders’ Deficit
Series A Convertible Preferred Stock - $0.001 par value, 1,000,000 shares Authorized and 0 shares issued and outstanding		-			-
Common Stock - $0.001 par value, 300,000,000 shares Authorized, 258,690,253 and 252,408,222 shares issued and outstanding at September 30, 2025 and December 31, 2024		258,690			252,408
Subscription Receivable		-			-
Additional Paid-In Capital		77,235,150			76,004,704
Accumulated Deficit		(80,833,383	)		(78,700,943	)
Total Stockholders' Deficit		(3,339,543	)		(2,443,831	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	94,313		$	269,979

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2025			2024			2025			2024

Revenues	$	-		$	-		$	-		$	-

Operating Costs and Expenses
Selling, general and administrative expenses		207,845			326,018			1,768,183			975,017
Research and development		25,334			65,885			222,568			247,157
Total Operating Expenses		233,179			391,903			1,990,751			1,222,174

Loss from Operations		(233,179	)		(391,903	)		(1,990,751	)		(1,222,174	)

Other Income (Expenses)
Interest expense		(30,684	)		(7,613	)		(76,496	)		(22,839	)
Interest expense – related party		(21,731	)		(19,231	)		(65,193	)		(57,693	)
Gain (loss) on settlement of debt		-			115,085			-			115,085
Total Other Income (Expenses)		(52,415	)		88,241			(141,689	)		34,553

Net Loss	$	(285,594	)	$	(303,662	)	$	(2,132,440	)	$	(1,187,621	)

Net Loss per Common Share:
Basic and diluted	$	(0.00	)	$	(0.00	)	$	(0.01	)	$	(0.00	)

Weighted average number of shares outstanding		257,809,759			248,614,744			256,403,319			247,365,704

					Additional
	Common Stock				Paid-in			Subscription		Accumulated
	Shares		Amount		Capital			Receivable		Deficit			Total

Balance at December 31, 2023		244,783,222	$	244,783	$	74,740,201		$	-	$	(76,699,210	)	$	(1,714,226	)

Sale of common stock		2,050,000		2,050		389,175			-		-			391,225

Amortization of deferred offering cost		-		-		(21,051	)		-		-			(21,051	)

Net Loss		-		-		-			-		(451,938	)		(451,938	)

Balance at March 31, 2024		246,833,222		246,833		75,108,325			-		(77,151,148	)		(1,795,990	)

Sale of common stock		1,400,000		1,400		224,190			-		-			225,590

Net Loss		-		-		-			-		(432,021	)		(432,021	)

Balance at June 30, 2024		248,233,222		248,233		75,332,515			-		(77,583,169	)		(2,002,421	)

Sale of common stock		1,400,000		1,400		193,426			-		-			194,826

Net Loss		-		-		-			-		(303,662	)		(303,662	)

Balance at September 30, 2024		249,633,222	$	249,633	$	75,525,941		$	-	$	(77,886,831	)	$	(2,111,257	)

	For the Nine Months Ended September 30,
	2025			2024

Cash Flows from Operating Activities:
Net (Loss)	$	(2,132,440	)	$	(1,187,621	)
Adjustments to Reconcile Net (Loss) to Net Cash Used In Operating Activities:
Stock for services and compensation		1,120,125			-
Write-off inventory		-			33,598
Amortization expense		3,037			3,038
Amortization of right-of-use asset		(460	)		582
Gain on settlement of debt		-			(115,085	)
Changes in assets and liabilities:
Prepaid and other current assets		(1,953	)		2,896
Accounts payable and accrued expenses		237,916			54,121
Accrued liabilities – related party		65,193			195,193
Accrued compensation		74,767			-
Net Cash Used In Operating Activities		(633,815	)		(1,013,278	)

Cash Flows from Investing Activities:
Net Cash Used in Investing Activities		-			-

Cash Flows from Financing Activities:
Proceeds from convertible notes payable		420,000			-
Advance from related party		20,000			-
Repayment of advance from related party		(20,000	)		-
Payment of offering costs		(2,400	)		(10,200	)
Proceeds from note payable		-			150,000
Proceeds from sale of common stock		65,708			821,841
Net Cash Provided by Financing Activities		483,308			961,641

Increase (Decrease) in Cash and Cash Equivalents		(150,507	)		(51,637	)
Cash and Cash Equivalents – Beginning of period		168,883			95,420

CASH AND CASH EQUIVALENTS – END OF PERIOD	$	18,376		$	43,783

Supplemental cash flow information:
Cash paid for interest	$	-		$	-
Cash paid for income taxes	$	-		$	-
Non-cash Investing & Financing Activities:
Common stock issued for conversion of convertible notes and accrued interest	$	53,295		$	-
Amortization of deferred offering costs	$	-		$	21,051

Year	Amount
2025 (remaining)	$	1,013
2026		4,050
2027		4,050
2028		4,050
2029		4,050
Thereafter		8,100
	$	25,313

	·	800,000 shares of common stock were sold to White Lion for proceeds of $63,308, net of legal and administrative fees of $2,400, under the Company’s common stock purchase agreement with White Lion.
	·	757,031 shares of common stock were issued due to the conversion of convertible notes payable and accrued interest of $53,295.

				Weighted
				Average
				Grant
	Number of			Date Fair
	Units			Value
Total awards outstanding at December 31, 2024		46,165,000		$	0.55
Units granted		-		$	-
Units Exercised/Released		(4,725,000	)	$	0.24
Units Cancelled/Forfeited		(1,125,000	)	$	0.99
Total awards outstanding at September 30, 2025		40,315,000		$	0.48

	Number of Warrants		Weighted Average Exercise Price
Total warrants outstanding at December 31, 2024		412,500	$	0.14
Granted		-	$	-
Exercised		-	$	-
Cancelled/Forfeited		-	$	-
Total warrants outstanding at September 30, 2025		412,500	$	0.14

	Year Ended
	December 31,
	2024
Exercise price	$	0.14
Expected term	1 year
Expected average volatility		90.88	%
Expected dividend yield		-
Risk-free interest rate		4.17	%

	Nine Months Ended September 30, 2025			Nine Months Ended September 30, 2024
Lease Cost
Operating lease cost (included in general and administrative in the Company’s statement of operations)	$	27,486		$	26,232

Other Information
Cash paid for amounts included in the measurement of lease liabilities for the nine months ended September 30, 2025 and 2024	$	15,504		$	25,650
Weighted average remaining lease term – operating leases (in years)	0.67 years			1.67 years
Average discount rate – operating lease		10	%		10	%

	At September 30, 2025		At December 31, 2024
Operating leases
Remaining right-of-use assets	$	23,021	$	47,096

Short-term operating lease liabilities	$	23,954	$	33,331
Long-term operating lease liabilities	$	-	$	15,158
Total operating lease liabilities	$	23,954	$	48,489

Year Ending	Operating Leases
2025 (remaining)		9,246
2026		15,410
Total lease payments		24,656
Less: Imputed interest/present value discount		(702	)
Present value of lease liabilities	$	23,954

	·	Hospitals and Surgery Centers for all Internal Surgical usage (in the event we obtain FDA Class III approval)
	·	Hospitals, Clinics and Physicians for external trauma
	·	EMS, Fire Departments and other First Responders
	·	Military Medical Care Providers
	·	Hemodialysis centers
	·	Nursing Homes and Assisted Living Facilities
	·	Dental and Oral & Maxillofacial Surgery Offices
	·	Veterinary hospitals

	·	BooBoo Strips
	·	HEMOSTYP
	·	The Ultimate Bandage
	·	HemoStrip
	·	CelluSTAT
	·	Nik Fix

	For the Three Months Ended September 30,
	2025			2024

Revenue	$	-		$	-

Gross profit	$	-		$	-

Operating (expenses)	$	(233,179	)	$	(391,903	)

Operating (loss)	$	(233,179	)	$	(391,903	)

Other income (expense)	$	(52,415	)	$	88,241

Net income (loss)	$	(285,594	)	$	(303,662	)

Net loss per common share - basic and diluted	$	(0.00	)	$	(0.00	)

	For the Nine Months Ended June 30,
	2025			2024

Revenue	$	-		$	-

Gross profit	$	-		$	-

Operating (expenses)	$	(1,990,751	)	$	(1,222,174	)

Operating (loss)	$	(1,990,751	)	$	(1,222,174	)

Other income (expense)	$	(141,689	)	$	34,553

Net (loss)	$	(2,132,440	)	$	(1,187,621	)

Net loss per common share - basic and diluted	$	(0.01	)	$	(0.00	)

3.1		Articles of Incorporation of the Company dated February 28, 1997 (1)

3.2		Amendment to Articles of Incorporation (1)

3.3		By-laws of the Company (2)

3.4		August 2015 Amendment to Articles of Incorporation (3)

31.1		Certification of Principal Executive Officer*

31.2		Certification of Principal Financial Officer*

32.1		Section 1350 Certificate by Principal Executive Officer*

32.2		Section 1350 Certificate by Principal Financial Officer*

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(1)	Incorporated by reference to the Company’s Form 10-Q for the quarter ended September 30, 2014.

(2)	Incorporated by reference to the Company’s Form 10-Q for the quarter ended June 30, 2022.

(3)	Incorporated by reference to Form 8-K dated August 7, 2015 – date of earliest event filed on August 10, 2015.

	UNITED HEALTH PRODUCTS, INC.

Dated: November 14, 2025	By:	/s/ Brian Thom
		Brian Thom
		Principal Executive Officer

Signatures		Title	Date

By:	/s/ Brian Thom		November 14, 2025
	Brian Thom	Chief Executive Officer, Principal Executive and Financial Officer and Director

By:	/s/ Robert Denser	Director	November 14, 2025
	Robert Denser

I, Brian Thom certifies that:

1.	I have reviewed this quarterly report on Form 10-Q of United Health Products, Inc.;

2	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 14, 2025	By:	/s/ Brian Thom
		Brian Thom
		Principal Executive Officer

I, Brian Thom certify that:

1.	I have reviewed this quarterly report on Form 10-Q of United Health Products, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

	1.	The Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, to which this Certification is attached as Exhibit 32.1 (the “Quarterly Report”), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and

	2.	The information contained in the Periodic Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

	By:	/s/ Brian Thom
		Brian Thom
		Principal Executive and Financial Officer