MCLE
Industry:
Other

DESCRIPTION

Medicale is a non-operating shell company incorporated in Nevada in August 2020. The company has no revenue, no employees, and no active business operations. Medicale's stated intention is to offer consulting services and distribute dietary supplements — products taken orally to supplement nutrient intake — but it has not commenced any activity in either area. The company's only activity is maintaining its SEC reporting obligations and raising capital through convertible notes to cover minimal costs like accounting and legal fees. These notes carry an 8% annual interest rate and are convertible into common stock. The company's sole officer and director provides office space at no cost, which is the only non-cash contribution to operations. Medicale has zero cash, a working capital deficit, and total liabilities that exceed total assets, resulting in a stockholders' deficit. Management and independent auditors have both flagged substantial doubt about Medicale's ability to continue as a going concern. In its current state, Medicale has no product, no path to revenue, and is entirely dependent on outside capital to fund even its minimal operating costs.

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