$VRHID · Veri MedTech Holdings, Inc.
Veri Medtech Holdings filed Amendment No. 7 to its S-1 registration for a firm commitment IPO of 3,750,000 shares at an assumed $4.00 per share, targeting approximately $15 million in gross proceeds. The company operates a medical marijuana card concierge platform through its Veriheal subsidiary, generating ~$11M in FY2025 revenue (down from ~$17M in FY2024) with a net loss of ~$2.32M. The offering is contingent on NASDAQ Capital Market approval; shares currently trade on OTCID under "VRHI" with a last reported price of $5.00 as of September 17, 2026.
- Firm commitment IPO of 3,750,000 shares at assumed $4.00/share, targeting ~$15M in gross proceeds before underwriting costs.
- Revenue declined from ~$17M (FY2024) to ~$11M (FY2025); H1 2026 revenue of ~$4.48M vs. ~$6.12M in H1 2025.
- Net loss widened from ~$409K (FY2024) to ~$2.32M (FY2025); H1 2026 net loss of ~$496K.
- Company has applied to list on NASDAQ Capital Market under ticker 'VRHI'; offering is contingent on NASDAQ approval.
- CEO and President hold 100% of Series A Preferred Stock representing 80% of total voting power post-offering.
Price data unavailable.
A declining-revenue cannabis-adjacent company with concentrated insider voting control is asking public investors to fund a NASDAQ uplist at a premium to its OTC price.
The medical marijuana card concierge space is fragmented and faces headwinds as more states move toward recreational legalization, reducing the need for medical cards. Veriheal's revenue decline mirrors broader industry maturation pressures.
Revenue is declining sharply — FY2025 fell 35% YoY to ~$11M and H1 2026 continued the trend. The company operates in the federally illegal cannabis-adjacent space, creating banking, regulatory, and legal risks. The dual-class voting structure (Series A Preferred = 80% voting control) concentrates权力.
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