Change Agents (CHGA) Q4 2024 earnings summary

Executive summary

• Commercial-stage company focused on precision diagnostic consumer products, primarily the Keto Air breathalyzer, and real estate rental income from its New Jersey property.

• Discontinued laboratory services in February 2025 after redeeming its 40% stake in Lab Services MSO to preserve cash.

• Initiated a strategic merger with YOOV Group Holding Limited, expected to close in Q3 2025, with significant changes to ownership and board structure.

Financial highlights

• Real property rental revenue increased 6.2% to $1.33 million in 2024, with operating income from real estate up 12.4% to $267,829 year-over-year.

• Net loss for 2024 was $7.9 million, a 52.7% improvement from $16.7 million in 2023.

• Working capital deficit increased to $10.6 million at year-end 2024 from $5.9 million in 2023.

• Cash balance at December 31, 2024 was $2.86 million, up from $0.29 million at prior year-end.

• No income tax expense due to ongoing losses; accumulated deficit reached $87.7 million.

Outlook and guidance

• Company’s ability to continue as a going concern is dependent on raising additional capital and generating sufficient revenues.

• Plans to raise capital through equity sales and strategic transactions; no assurance of success.

• Merger with YOOV, if completed, will result in current shareholders owning less than 3% of the combined company.