Preaxia Health Care Payment Systems 10-K Summary & Financial Data

Company structure

Incorporated in Nevada on April 3, 2000.
Primary operations conducted through wholly owned subsidiary PreAxia Health Care Payment Limited (Alberta), incorporated November 26, 2015.
Subsidiaries:
- Zane Inc. CA (Alberta) created May 23, 2025 to develop and market personal financial management products and health care payment processing services. No operations prior to June 30, 2025.
- Zane Inc. US (Nevada) created September 1, 2025 to market personal financial management products and health care payment services in the United States. No operations prior to October 20, 2025.
Calgary office closed in 2017; operations are conducted remotely.

PreAxia Payment provides a cloud-based platform and services for processing and managing Health Spending Accounts (HSAs) for employers and employees.
Platform features include cardholder management, reconciliation, settlement, and reporting.
The PreAxia processing platform is fully operational.
The HSA project is on hold pending completion of related ZaneMoney and Money.net developments.

HSAs are employer-funded accounts for employees and dependents to cover eligible health care expenses.
PreAxia’s platform is intended to replace paper processes and reduce administrative time and costs.

Zane CA and Zane US focus on personal financial tools under a “genius level financial guidance” philosophy delivered by an AI-powered platform.
Core product concepts:
1. High-Interest Super Account (HISA): Combines checking, savings, and investments, targeting an average 10% APY while keeping funds instantly accessible.
2. Smart Debit Card: Uses predictive budgeting to enforce daily spending limits and build credit automatically.
3. MoneyNet: A distributed financial network that monitors across institutions to manage fund movements, prevent overdrafts, maximize returns, and minimize fees.
The platform targets Generation Z and aims to provide a multi-faceted financial operating system.

Delivery through cloud computing platforms.
Initial target market includes small-to-medium-sized companies underserved by existing group benefits.
Marketing channels: direct-to-consumer, direct-to-business, brokers, and financial advisors.
SMBs are expected to drive growth, with potential migration of larger employers over time.
Channel strategy anticipates multiple partners with custom pricing and compensation arrangements.
Plans include securing reference accounts, high-profile early adopters, and technology/marketing alliances.
Primary market focus is Canada, with intent to expand to the United States and internationally.

Identified competitors and providers in HSAs and related services include Benecaid, Olympia Benefits, QuickCard, and Zelle.

One full-time consultant: President Tom Zapatinas, engaged since September 1, 2011; contract renewed June 30, 2025 at $10,000 per month.
July 1, 2025: Independent Analytical Research (INARE) and Pavel Bondarev contracted for business development and related functions to support the Zane platform. Bondarev appointed to act as CEO of the Zane subsidiaries; compensation $12,000 per month with stock awards vesting over three years.
Zane CA typically engages 3 to 8 software developers under contract at any given time.

No material legal proceedings disclosed.
Cybersecurity governance is overseen by the Board and management; the company may use third-party IT services and plans to establish procedures for cybersecurity risk assessment in the coming year.