Hypha Labs, Inc.

Overview

• Formerly Digipath, Inc.; incorporated in Nevada on October 5, 2010.
• Sold the net assets of its wholly owned subsidiary Digipath Labs, Inc. on February 20, 2024 and subsequently renamed itself Hypha Labs, Inc.
• Formed Hypha Products Inc., a wholly owned subsidiary, on April 18, 2024 to develop and commercialize the Hypha Micropearl accelerator for home use.

Current focus

• Developing and preparing to commercialize the Hypha Micropearl accelerator, a home appliance that produces nutritionally beneficial mushroom mycelium components called Micropearls for human consumption.
• The device produces Micropearls in eight days using replaceable, pre-sterilized cartridges containing nutrient formulations.
• Cartridges are scanned through the Hypha Lab app to operate the device.
• Micropearls are designed to be tasteless and odorless so they can be incorporated into foods and beverages without altering flavor.
• Planned sales model is direct-to-consumer through an app, with replacement cartridges available online and a proposed subscription service for recurring deliveries.

Key product details

• Hypha Micropearl accelerator: home appliance that produces Micropearls in eight days.
• Replaceable cartridges: pre-sterilized, containing nutrient formulations to enable Micropearl production.
• Digital integration: QR codes on cartridges are scanned into the Hypha Lab app to run the device.
• Packaging and use: cartridges limit mold and yeast contamination risk; Micropearls are harvested with a strainer for food integration.
• Initial production: limited number of accelerators to be produced at headquarters for testing with mycologists and industry experts.
• Long-term manufacturing: company intends to pursue manufacturing arrangements outside the United States for commercial production.
• Target commercial timeline: goal to market the Micropearl accelerator in the latter part of calendar year 2026.

Market context

• Global functional mushroom market was estimated at $34.75 billion in 2024 and projected to reach $65.83 billion by 2030, at a CAGR of 11.2%.
• Target species include Reishi, Lion’s Mane, Cordyceps, Turkey Tail, Chaga, and Shiitake.
• Competitive landscape includes companies such as Four Sigmatic, Mushroom Perfecti, Nature’s Rise, Lifeway Foods, and KAAPA Biotech (via a partnership with Applied Food Sciences).

Intellectual property

• Two U.S. patent applications filed covering the use of machine learning algorithms to process mycelium.
• IP strategy emphasizes patent protection in key markets and protection of proprietary mycelium processing methods.
• The company is using the name Micropearls with the accelerator; that name is not registered as a formal trademark.

Business model and go-to-market

• Sales channels: direct online sales via the Hypha Lab app; replacement cartridges sold through the company website and third-party providers.
• Marketing: primarily online channels including email, digital ads, promotions, and social media.
• Customer engagement: planned subscription service for cartridge deliveries to drive repeat purchases.
• Growth drivers include marketing efficiency, customer acquisition, product acceptance, and the ability to scale manufacturing and fulfillment.

Operations, supply chain, and facilities

• Headquarters and principal executive offices: 5940 S. Rainbow Boulevard, Las Vegas, Nevada 89118; phone: (702) 527-2060.
• Employee count: five employees as of January 15, 2026.
• The company relies on third-party manufacturers outside the United States for production and may source cartridges from external suppliers.
• Fulfillment is planned to be handled by third-party fulfillment centers.
• Supply and logistics risks include potential shipping disruptions, carrier capacity constraints, and quality control concerns with third-party components.

Financial position and liquidity

• The company acknowledges going concern risk; the auditor expressed substantial doubt about the ability to continue as a going concern for the year ended September 30, 2025.
• Historically funded operations through equity offerings and convertible debt; expects to require additional financing to execute its business plan and commercialize the product.
• Dividend policy: has not paid dividends and does not expect to pay dividends in the foreseeable future.
• Corporate control: Series C Preferred Stock (designated 1,000 shares) provides the holder with substantial voting power (up to 200,000 votes per Series C share) while held by the CEO, giving the CEO majority voting control over the company.
• Trading status: common stock is eligible for quotation on the OTCQB; trading activity is limited and the company is not listed on major exchanges.

Corporate and regulatory considerations

• Subject to U.S. consumer product safety regulation (Consumer Product Safety Act) with potential recall or repair obligations and penalties.
• Online sales and payments require compliance with PCI standards and carry fraud risk.
• Cybersecurity and data protection risks exist due to handling customer data and reliance on third-party service providers for data processing and storage.
• Manufacturing outside the U.S. introduces potential regulatory, policy, and supply chain risks.
• Returns, damage in transit, and product recall risks are part of product distribution considerations.

Legal and miscellaneous

• No material pending legal proceedings reported.
• Principal executive offices and contact information as listed above.
• Website: http://www.hyphalabs.com (site content is for information and not incorporated by reference).