Polomar Health Services, Inc.

Polomar Health Services, Inc.

Business overview

• Florida-licensed retail compounding pharmacy operating as Polomar Specialty Pharmacy, LLC (license # PH35196) with a Special Sterile Compounding Permit (#PH35277).
• Address: 32866 US Hwy. 19 N, Palm Harbor, FL 34684.
• Compounds under 503A of the Federal Food, Drug, and Cosmetic Act. Manufactures sterile injectable and other sterile compounds (eye drops, infused therapeutics) and fulfills prescriptions from state-licensed physicians and other licensed healthcare professionals.
• Sells non-sterile compounded drugs (including inhaled sildenafil and sublingual sildenafil) sourced from FDA-approved, cGMP, 503B outsourcing facilities or contract drug manufacturers.
• Licensed to fulfill and deliver compounded prescribed medications in 28 states; pursuing additional state licenses with a goal to expand by the end of Q2 2026.

History and corporate actions

• Polomar Acquisition merged with Polomar Pharmacy on September 30, 2024; Polomar Pharmacy continued as the surviving entity and a wholly owned subsidiary.
• The merger was treated as a reverse recapitalization; historical financial statements of Trustfeed (the pre-merger company) were substituted with Polomar Pharmacy’s.
• Capital actions around the merger:
  • October 2024: CWR returned 50,000,000 shares for cancellation.
  • October 2024: Polomar Pharmacy members received 207,414,147 (pre-split) shares of the Company’s common stock.
  • November 1, 2024: 1-for-10 reverse stock split; outstanding common stock reported as 27,657,679 shares.
• Altanine Merger agreement (July 23, 2025) contemplated a merger with Altanine Inc.; the Altanine Merger had not closed as of the filing.
• The Company agreed to pursue a Nasdaq listing as part of anticipated transactions with Altanine and related governance terms; no definitive listing was in place as of the filing.

Key products, platforms, and licensing arrangements

• SlimRx: online weight-loss platform with VitaSlim and VitaSlim Plus formulations, including a proprietary metformin gummy.
  • Trademark timeline: application filed August 29, 2024; USPTO action letter April 2025; amended to intent-to-use October 24, 2025; Notice of Publication issued December 17, 2025.
• IP license with Pinata Holdings, Inc. (affiliate of CWR): license for IP rights and know-how for delivery of products containing metformin, eletriptan, sumatriptan, semaglutide, liraglutide, and sildenafil.
  • Royalty: 10% to 20% of net sales of products utilizing the licensed ingredients.
  • Term: perpetual, terminable on material breach with a cure period or upon 180 days’ notice by either party.
  • Restated License (January 9, 2025) added Polomar Pharmacy as an additional party and removed the Company’s right to sublicense the IP.
• ForHumanity Health, Inc. (Product Fulfillment and Distribution Agreement):
  • Exclusive marketing rights for VigorAir (inhalable sildenafil) through June 30, 2026; initial term of 42 months with auto-renewal contingent on revenue commitments.
  • Upfront/guaranteed payment: $750,000 total (approximately $550,000 received as of December 31, 2025); exclusivity extended if revenue milestones are met.
  • Polomar fulfills prescriptions under the arrangement; test marketing began November 2025. ForHumanity suspended sales and notified intent to terminate the agreement on April 23, 2026 (subsequent event).
• CareValidate agreement:
  • One-year non-exclusive pharmacy services agreement executed September 26, 2025 to fulfill GLP-1 agonist prescriptions through CareValidate’s online-clinic network.
  • Fulfillment began October 6, 2025; ongoing revenue is expected from this relationship.

Operations and customers

• Core fulfillment model: online telehealth platform–driven prescription fulfillment. Compounded products are dispensed through Polomar Pharmacy to patients nationwide.
• Product focus has expanded from dermatologic compounded topical formulations to GLP-1 agonists and erectile dysfunction drugs via online channels.
• Key partners and channels include CareValidate (GLP-1 prescriptions), ForHumanity Health, Inc. (VigorAir inhalable sildenafil), and the SlimRx platform.

Financial snapshot (selected)

• Employees: six full-time and two part-time as of December 31, 2025.
• Net loss:
  • Year ended December 31, 2025: $10,701,105.
  • Year ended December 31, 2024: $1,341,333.
• Accumulated deficit: $13,612,268 as of December 31, 2025.
• Contract receipts:
  • ForHumanity: $750,000 guaranteed payment; $550,000 received by December 31, 2025; partial payment due January 2026 and remaining payments subject to performance milestones and termination risk.
  • CareValidate: fulfillment began October 6, 2025 and is expected to generate ongoing revenue.
• Public reporting and capitalization:
  • Smaller Reporting Company status under Rule 12b-2.
  • Form S-1 filed September 15, 2025; effective December 15, 2025; approximately 7,710,719 shares registered for resale, with about 5,858,451 shares held by non-affiliates.
  • Approximately 8.5 million free-trading shares outstanding as of the filing date.
  • Voting power concentrated among major holders; CWR and affiliates hold approximately 49% of total votes.

Regulatory and risk context

• Regulatory oversight by the Florida Board of Pharmacy and compliance with state and non-resident regulations in the states where the Company is licensed.
• HIPAA and cybersecurity risks associated with telehealth and online prescription fulfillment.
• Intellectual property considerations tied to the licensed IP from Pinata, including royalty obligations and potential patent or infringement issues.
• Market competition in online prescription fulfillment and in GLP-1 and erectile dysfunction drug delivery. Competitive features cited include the integrated telemedicine and fill-facility model and use of pre-filled injector pens versus traditional vials.
• Corporate governance and listing risks related to efforts to list on a national exchange, director and officer insurance, and challenges common to small public companies.

Outlook

The Company is in a development stage with ongoing losses and material liquidity and going-concern considerations disclosed in its filings. Continued operations depend on successful execution of partnerships, license expansions, commercial milestones, and additional financing.