What changed in this filing

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Item 1. Business

2023-03-27 compared with 2022-03-28 · 200 added, 148 removed, 538 unchanged (39% of the section changed)

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herein as our fourth quarter.

Fiscal 2021 means the year ended December 31, 2021, whereas fiscal 2020 means the year ended December 31,

“Fiscal 2022” means the Fiscal year ended December 31, 2022, whereas Fiscal 2021 means the

year ended December 31, 2021.

the context requires otherwise, references to the “ Company, ” “ we, ” “ us, ” “ our, ”

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Our SEC filings are available to the

public over the Internet at the SEC’s website at www.sec.gov and are available for download, free of charge, soon after

public over the Internet at the SEC’s website at http://www.sec.gov and are available for download, free of charge, soon after

such reports are filed with or furnished to the SEC, on the “ NASDAQ:

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of our website at www.rx.trxade.com .

Copies of documents filed by us with the SEC

are also available from us without charge, upon oral or written request to our Secretary, who can be contacted at the address and telephone

number set forth on the cover page of this Report.

Our website addresses are www.rx.trxade.com

www.trxadegroup.com , www.rx.trxade.com , www.bonumhealth.com , www.comsprx.com , and www.rxintegra.com .

Copies of documents filed by us with the SEC are also available from us without charge, upon

oral or written request to our Secretary, who can be contacted at the address and telephone number set forth on the cover page of this

Our website addresses are www.rx.trxade.com www.trxadegroup.com , www.rx.trxade.com , www.bonumhealth.com ,

www.comsprx.com , and www.rxintegra.com .

Information on our websites is not incorporated by reference into this Form 10-K.

The information

on, or that may be accessed through, our website is not incorporated by reference into this Report and should not be considered a part

of this Report.

The information on, or that may be accessed through, our website is not incorporated by reference into this Report and should not be

considered a part of this Report.

AND ORGANIZATIONAL HISTORY

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2020 Reverse Stock Split and NASDAQ Capital Market Listing

October 9, 2019, our Board of Directors, and on October 15, 2019, stockholders holding a majority of our outstanding voting shares, approved

resolutions authorizing a reverse stock split of the outstanding shares of our common stock in the range from one-for-two (1-for-2) to

one-for-ten (1-for-10), and provided authority to our Board of Directors to select the ratio of the reverse stock split in their discretion

(the “ Stockholder Authority ”).

On February 12, 2020, the Board of Directors of the Company approved a stock split

ratio of 1-for-6 (“ Reverse Stock Split ”) in connection with the Stockholder Authority and the Company filed a Certificate

of Amendment with the Secretary of Delaware to affect the Reverse Stock Split.

The Reverse Stock Split became effective at 12:01 a.m.

October 9, 2019, our Board of Directors, and on October 15, 2019, stockholders holding a majority of our outstanding voting shares,

approved resolutions authorizing a reverse stock split of the outstanding shares of our common stock in the range from one-for-two

(1-for-2) to one-for-ten (1-for-10), and provided authority to our Board of Directors to select the ratio of the reverse stock split

in their discretion (the “ Stockholder Authority ”).

On February 12, 2020, the Board of Directors of the Company

approved a stock split ratio of 1-for-6 (“ Reverse Stock Split ”) in connection with the Stockholder Authority and

the Company filed a Certificate of Amendment with the Secretary of State of Delaware to affect the Reverse Stock Split.

Stock Split became effective at 12:01 a.m.

Eastern Standard Time on February 13, 2020.

The Reverse Stock Split was completed in order to allow us to meet the initial criteria of

The NASDAQ Capital Market.

The Reverse Stock Split was completed in

order to allow us to meet the initial listing criteria of The NASDAQ Capital Market.

common stock was approved for listing on The NASDAQ Capital Market under the symbol “ MEDS ”, on February 13, 2020.

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own 100% of Alliance Pharma Solutions, LLC (d.b.a.

DelivMeds), a Florida limited liability company, which was founded in

January 2018 (“ Alliance ”).

Alliance previously owned 30% of SyncHealth MSO, LLC (“ SyncHealth ”)

which was part of a joint venture formed in January 2019 with PanOptic Health, LLC (“ PanOptic ”) with the goal of enabling

independent retail pharmacies to better compete with large national pharmacies on pricing, distribution and logistics.

We did not realize

any income from the joint venture, and we terminated the joint venture agreements pursuant to their terms effective as of January 31,

2020, and assigned the 30% ownership of SyncHealth back to PanOptic.

As of February 1, 2020, we own no equity in SyncHealth and only

the terms of the agreements relating to confidentiality, non-solicitation and each party’s obligation to cease use of the other

party’s intellectual property survive the termination.

DelivMeds), a Florida limited liability company, which was founded in January 2018

(“ Alliance ”).

Alliance previously owned 30% of SyncHealth MSO, LLC (“ SyncHealth ”) which was part

of a joint venture formed in January 2019 with PanOptic Health, LLC (“ PanOptic ”) with the goal of enabling independent

retail pharmacies to better compete with large national pharmacies on pricing, distribution and logistics.

We did not realize any income

from the joint venture, and we terminated the joint venture agreements pursuant to their terms effective as of January 31, 2020, and

assigned the 30% ownership of SyncHealth back to PanOptic.

As of February 1, 2020, we own no equity in SyncHealth and only the terms

of the agreements relating to confidentiality, non-solicitation and each party’s obligation to cease use of the other party’s

intellectual property survive the termination.

own 100% of Bonum Health, LLC, a Delaware limited liability company which owns our “ Bonum Health Hub ” assets and operations

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previously owned 100% of PharmCentrix, LLC, a Delaware limited liability company which had no revenue in 2020 and was dissolved in December

In February of 2022 we entered

into an agreement with Exchange Health to own 51% of SOSRx, LLC a Delaware limited liability company.

In December of 2022 management

determined that the subsidiary did not generate significant revenue and the assets were 100% impaired.

In February of 2023 we voluntarily

withdrew from the agreement with Exchange Health.

of Community Specialty Pharmacy, LLC

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Health Asset Acquisition

October 23, 2019, Bonum Health, LLC, a Delaware limited liability company, and a then newly formed wholly-owned subsidiary of the Company

October 23, 2019, Bonum Health, LLC, a Delaware limited liability company, and a wholly-owned subsidiary of the Company

(“ Bonum Health ”) entered into an Asset Purchase Agreement with Bonum Health, LLC, a Florida limited liability company

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payment terms and next-day delivery capabilities in unrestrictive states.

We have expanded significantly since 2015 and now serve

approximately 13,100+ registered members on our sales platform.

We have expanded significantly since 2015 and now serve approximately

14,400+ registered members on our sales platform.

Principal Products and Services and their Markets

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drugs available for purchase by pharmacists.

We serve approximately 13,100+ registered members, providing access to Trxade’s

proprietary pharmaceutical database and data analytics regarding medication pricing.

We generate revenue from these services by charging

a transaction fee to the seller of the products for sales conducted via the Trxade platform.

The buyers do not bear the cost of transaction

fees for the purchases that they make, nor do they pay a fee to join or register with our platform.

Substantially all of our revenues

during the years ended December 31, 2021 and 2020, were from platform revenue generated on www.rx.trxade.com , product sales through

Integra Pharma Solutions, LLC, and prescription sales through Community Specialty Pharmacy, LLC.

of current products and services.

have a number of products and services still in development, which are described below.

We serve approximately 14,400+ registered members, providing access to Trxade’s proprietary

pharmaceutical database and data analytics regarding medication pricing.

We generate revenue from these services by charging a transaction

fee to the seller of the products for sales conducted via the Trxade platform.

The buyers do not bear the cost of transaction fees for

the purchases that they make, nor do they pay a fee to join or register with our platform.

Substantially all of our revenues during Fiscal

2022 and Fiscal 2021, were from platform revenue generated on www.rx.trxade.com , product sales through Integra Pharma Solutions,

LLC, and prescription sales through Community Specialty Pharmacy, LLC.

of current and new or enhanced products and services

have a number of products and services in operation and others still under development, which are described below.

Pharma Solutions, LLC .

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Specialty Pharmacy, LLC .

We acquired Community Specialty Pharmacy, LLC, a Florida limited liability company (“ CSP ”),

on October 15, 2018.

We acquired Community Specialty Pharmacy, LLC, a Florida limited liability company

(“ CSP ”), on October 15, 2018.

CSP is an accredited pharmacy located in St.

Petersburg, Florida.

CSP has a focus on specialty medications.

company operates with an innovative pharmacy model which offers home delivery services to any patient thereby providing convenience.

Petersburg, Florida, which focuses on

specialty medications and operates with an innovative pharmacy model that offers home delivery services to any patient thereby

providing convenience.

Delivmeds.com .

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To date, we have not generated any revenue from this product.

Trxade Prime allows pharmacy members on the Trxade platform to process, consolidate

and ship purchase orders that are placed directly with Trxade suppliers via the Trxade Prime service.

This is at no cost, with the goal

of offering a single tool with one low order minimum, one invoice, one package and one delivery from multiple quality wholesalers and

distributors.

Revenue has been generated from this service though our Integra subsidiary, which provides the consolidation of the orders.

Trxade Prime allows pharmacy members on the Trxade platform to process, consolidate and ship purchase orders that are

placed directly with Trxade suppliers via the Trxade Prime.

This service is provided at no cost, with the goal of offering a single

tool with one low order minimum, one invoice, one package and one delivery from multiple quality wholesalers and distributors.

Revenue has been generated from this service though our Integra subsidiary, which provides the consolidation of the

Health Hub and Application .

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of the hubs purchased at June 30, 2021 in the amount of $143,891, which is included under loss on inventory investments in the statement

of operations for the year ended December 31, 2021, in Note 8 - Other Receivables ” to the Notes to Consolidated Financial Statements

included herein under “ Item 8.

Financial Statements and Supplemental Data ”.

of operations for Fiscal 2021.

“ Bonum Health app, ” which provides an overall healthcare experience comparable to a Primary Care practitioner, and

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Health Passport .

The Health Passport is a patient-centered, digital, precision healthcare platform

that lets patients consolidate and control their health data via a digital Health Passport and allows them to share their health profile,

tests and vaccinations simply and safely.

Secured in a blockchain, the Health Passport includes health and vaccination status verification

via a QR code, which is available for travel, entry into stadiums, concert venues, events, offices, industrial plants, warehouses, and

other physical access points.

The Health Passport is a patient-centered, digital, precision healthcare platform that lets patients consolidate

and control their health data via a digital Health Passport and allows them to share their health profile, tests and vaccinations simply

Secured in a blockchain, the Health Passport includes health and vaccination status verification via a QR code, which is

available for travel, entry into stadiums, concert venues, events, offices, industrial plants, warehouses, and other physical access

The Passport stores all of a user’s health records securely in one place.

W e have not generated

any revenue from this product to date and the product was discontinued at the end of December 2021.

We previously owned 100% of MedCheks,

LLC, a Delaware limited liability company which was formed in January 2021, had no revenue in 2021 and was dissolved in December 2021.

On February 15, 2022, the Company entered into a relationship with Exchange

Health, LLC, a technology company providing an online platform for manufacturers and suppliers to sell and purchase pharmaceuticals (“ Exchange

SOSRx LLC, a Delaware limited liability company (“ SOSRx ”), was formed, which is owned 51% by the

Company and 49% by Exchange Health.

All of our product offerings

are focused on the United States markets.

Some products are restricted just to certain states, depending upon the various applicable

state regulations and guidelines pertaining to pharmaceuticals, particularly, and drug businesses, generally.

Our services are distributed

through our online platform

We have not generated any revenue from this product

to date and the product was discontinued at the end of December 2021.

We previously owned 100% of MedCheks, LLC, a Delaware limited liability

company which was formed in January 2021, had no revenue in 2021 and was dissolved in December 2021.

On February 15, 2022, the Company entered into a relationship with Exchange Health, LLC, a technology company providing an online

platform for manufacturers and suppliers to sell and purchase pharmaceuticals (“ Exchange Health ”).

SOSRx LLC, a Delaware

limited liability company (“ SOSRx ”), was formed, which is owned 51% by the Company and 49% by Exchange Health.

SOSRx did not generate material revenue and in February of 2023, subsequent to Fiscal 2022, the Company voluntarily withdrew from the

joint venture agreement.

The asset impairment is reflected in the statement of operations for Fiscal 2022 as impairment of intangible

Additionally, the Company contributed a cash investment of $275,000 in February of 2022 when the joint venture was formed.

Company did not recover this investment as part of the withdrawal settlement.

of our product offerings are focused on the United States markets.

Some products are restricted just to certain states, depending upon

the various applicable state regulations and guidelines pertaining to pharmaceuticals, particularly, and drug businesses, generally.

Our services are distributed through our online platform.

Organizational

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Pharmaceutical Industry

to the NCPA 2020 Digest Report, United States pharmaceutical companies comprise a burgeoning estimated $685

billion industry by 2023, consisting of over 65,000 pharmacy facilities.

Management believes that few platforms are currently in place

to bring these participants together to share market knowledge, product pricing transparency and product availability.

According to this,

the pharmaceutical market is comprised primarily of three wholesalers that control an estimated approximately 92% of the market.

management believes that this concentration has, over the years, led to a lack of price and cost transparency, thereby resulting in severe

limitations on the purchasing choices of industry participants.

These market dynamics have enabled these large wholesalers (McKesson,

Cardinal Health and AmerisourceBergen), known as ADR distributors, to dominate the industry with respect to both generic and brand pharmaceuticals.

to the NCPA 2020 Digest Report, United States pharmaceutical companies comprise a burgeoning estimated $685 billion industry by

2023, consisting of over 65,000 pharmacy facilities.

Management believes that few platforms are currently in place to bring these participants

together to share market knowledge, product pricing transparency and product availability.

According to this, the pharmaceutical market

is comprised primarily of three wholesalers that control an estimated approximately 92% of the market.

Our management believes that this

concentration has, over the years, led to a lack of price and cost transparency, thereby resulting in severe limitations on the purchasing

choices of industry participants.

These market dynamics have enabled these large wholesalers (McKesson, Cardinal Health and AmerisourceBergen),

known as ADR distributors, to dominate the industry with respect to both generic and brand pharmaceuticals.

fuel this change, insurance companies (Pharmacy Benefits Management (“ PBM ”) and private health payers) and the federal

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to help pharmacies overcome the complexities related to supply chain purchasing.

also anticipate facing competition in the telehealth industry (in connection with “ Bonum Health ”) from current and

future health care companies in the telehealth market including, Teladoc Health, Inc., MDLive, Inc., American Well Corporation and Grand

Rounds, Inc., among other smaller industry participants.

also anticipate facing competition in the telehealth industry (in connection with Bonum Health ) from current and future health

care companies in the telehealth market including, Teladoc Health, Inc., MDLive, Inc., American Well Corporation and Grand Rounds, Inc.,

among other smaller industry participants.

and Availability of Raw Materials;

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on One or More Major Customers

of the date of this filing, we have approximately 13,100+ registered members and over 30 pharmaceutical suppliers as customers,

with an estimated market potential of approximately 19,397 independent pharmacies and 1,500 regional and local suppliers.

a working relationship with over 25 wholesalers and the nation’s largest buying group.

of the date of this filing, we have approximately 14,400+ registered members and over 30 pharmaceutical suppliers as customers, with

an estimated market potential of approximately 20,000+ independent pharmacies and 1,500 regional and local suppliers.

We have a working

relationship with over 25 wholesalers and the nation’s largest buying group.

Although we believe those entities are satisfied

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our pharmaceutical pricing benchmarks, PAC.

Our business operates under a proprietary software system which includes trade secrets within

our database, business practices and pricing model.

Our business operates under a proprietary software system which includes trade

secrets within our database, business practices and pricing model.

We also maintain a number of websites.

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of Existing or Probable Government Regulations on the Business

Reduction Act of 2022

August 16, 2022, President Joe Biden signed into law the Inflation Reduction Act of 2022, lowering the cost of prescription drugs.

law will also phase in a cap for out-of-pocket costs for prescriptions and establish a $35 monthly cap per prescription for insulin covered

by a Medicare prescription drug plan and insulin delivered through traditional pumps.

Other items included in the law provide for $0

out-of-pocket expense for certain adult vaccines including the shingles vaccine, Medicare rebates to be paid by companies to Medicare

beneficiaries if the increase drug prices at a rate larger than the rate of inflation, and also allows the Secretary of HHS the power

to negotiate prices for select high-cost prescription drugs for Medicare beneficiaries.

These restrictions to out-of-pocket expenses,

monthly caps, and control of prescription drug prices may be too significant for many smaller suppliers and pharmacies to overcome.

Ryan Haight Act

April 6, 2009, the Drug Enforcement Administration (“DEA”) published the interim final rule of the Ryan Haight Oline Pharmacy

Consumer Protection Act of 2008 (The Act”), the final rule was effective October 30, 2020.

The Act requires an in-person medical

evaluation for prescribing practitioners and modified registration requirements for online pharmacies that distribute controlled substances.

The Act also assigns responsibility to distributors to avoid supplying pharmacies that service customers of inappropriate websites and

requires distributors to have responsibility to know pharmacy buying patterns and to confirm their compliance with modified pharmacy

registration requirements.

The burden of the additional cost to online pharmacies to comply with the modified registration requirements

may be too much and the risks to distributors to supply controlled substances to pharmacies that have websites may be too great.

Rule by DEA on 11/17/2021 re:

Regulation of Telepharmacy Practice

November 17, 2021, the DEA published advanced notice of proposed rulemaking to obtain further information regarding the practice of telepharmacy.

Telepharmacy is not specifically defined by the Controlled Substances Act (“CSA”) or DEA regulations.

However, to the extent

that telepharmacies dispense controlled substances, they are under the purview of the CSA and DEA.

The DEA has opened the comment period

to January 18, 2022, to obtain information in an effort to be fully informed about the practice, industry, and state regulation of telepharmacy.

New regulations could have an impact on pharmacies and could affect our business.

Drug Administration Guidelines

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drugs within their borders to be licensed as well.

February 4, 2022, the FDA published a proposed rule to set national standards for the licensing of prescription drug wholesale distributors

and third-party logistics providers.

The comment period was open until June 6, 2022.

New regulations and requirements for wholesale distributors

and third-party logistics providers could be too burdensome and could impact our registered suppliers on the Trxade platform.

Florida, Nevada, New Mexico and Indiana define the normal distribution channel to not include the lateral sales of pharmaceuticals between

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Some states define “excessive” or “unconscionable” while others define what makes

a prima facia case for price gouging and what constitutes a prima facia defense, shifting the burden of proof to the accuser.

a prima facie case for price gouging and what constitutes a prima facie defense, shifting the burden of proof to the accuser.

all of the 42 states with price gouging laws on the books, a price is excessive or unconscionable if the price of a good has increased,

in some states by a certain percentage, over the price of the good prior to the onset of the abnormal

disruption of the market.

Some states have clearly excepted from the price gouging definition a rise in prices caused by an increase

in the merchant’s cost of delivering that good for sale – whether it be increased shipping costs, gasoline prices or simply

the cost of the good itself.

Other states have less defined exceptions – Virginia for example only treats the fact of increased

input costs as a merchant’s prima facia defense to an accusation of price gouging.

Several states except from the price gouging

definition prices that do not exceed a normal margin (i.e., the merchant’s margin immediately prior to the market disruption) PLUS

In general, while the l aw may not specifically define what constitutes an “unconscionably

excessive price,” the statutes typically provide that a price may be “unconscionably excessive” if:

the amount charged

represents a “gross disparity” from the price such goods or services were sold or offered for sale immediately prior to the

onset of the abnormal disruption of the market.

Merchants may provide evidence that justifies their higher prices were justified by increased

costs beyond their control.

We will need to comply with the excessive price statutes;

as of the date of this Report, we believe we were

in compliance with all 42 states’ price gouging laws.

in some states by a certain percentage, over the price of the good prior to the onset of the abnormal disruption of the market.

states have clearly excepted from the price gouging definition a rise in prices caused by an increase in the merchant’s cost of

delivering that good for sale – whether it be increased shipping costs, gasoline prices or simply the cost of the good itself.

Other states have less defined exceptions – Virginia for example only treats the fact of increased input costs as a merchant’s

prima facie defense to an accusation of price gouging.

Several states except from the price gouging definition prices that do not exceed

a normal margin (i.e., the merchant’s margin immediately prior to the market disruption) PLUS 10%.

In general, while the law may

not specifically define what constitutes an “unconscionably excessive price,” the statutes typically provide that a price

may be “unconscionably excessive” if:

the amount charged represents a “gross disparity” from the price such goods

or services were sold or offered for sale immediately prior to the onset of the abnormal disruption of the market.

Merchants may provide

evidence that justifies their higher prices were justified by increased costs beyond their control.

We will need to comply with the excessive

price statutes;

as of the date of this Report, we believe we were in compliance with all 42 states’ price gouging laws.

Federal and State Fraud and Abuse Laws

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any of these remedies could have a material adverse effect on our business, financial condition and results of operations.

federal and state government agencies have continued civil and criminal enforcement efforts as part of numerous ongoing investigations

of healthcare companies and their executives and managers.

Although there are a number of civil and criminal statutes that can be applied

to healthcare providers, a significant number of these investigations involve the federal False Claims Act.

These investigations can

be initiated not only by the government but also by a private party asserting direct knowledge of fraud.

Penalties for False Claims Act

violations include fines, plus up to three times the amount of damages sustained by the federal government.

A False Claims Act violation

may provide the basis for exclusion from the federally funded healthcare programs.

In addition, some states have adopted similar fraud,

whistleblower and false claims provisions.

False Claims Act & HIPAA

federal False Claims Act provides, in part, that the federal government may bring a lawsuit against any person whom it believes has knowingly

presented, or caused to be presented, a false or fraudulent request for payment from the federal government, or who has made a false

statement or used a false record to get a claim approved.

In addition, amendments in 1986 to the federal False Claims Act have made it

easier for private parties to bring “qui tam” whistleblower lawsuits against companies under the federal False Claims Act.

Penalties include significant civil monetary penalties for each false claim, plus three times the amount of damages that the federal

government sustained because of the act of that person.

Qui tam actions have increased significantly in recent years, causing greater

numbers of healthcare companies to have to defend a false claim action, pay fines, be excluded from Medicare, Medicaid or other federal

or state healthcare programs, or be subject to integrity oversight and reporting obligations to resolve allegations of non-compliance,

as a result of an investigation arising out of such action.

are other federal anti-fraud laws that that prohibit, among other actions, knowingly and willfully executing, or attempting to execute,

a scheme to defraud any healthcare benefit program, including private third-party payors, knowingly and willfully embezzling or stealing

from a healthcare benefit program, willfully obstructing a criminal investigation of a healthcare offense, and knowingly and willfully

falsifying, concealing or covering up a material fact or making any materially false, fictitious or fraudulent statement in connection

with the delivery of or payment for healthcare benefits, items or services.

Additionally,

HIPAA established two federal crimes for healthcare fraud and false statements relating to healthcare matters.

The healthcare fraud statute

prohibits knowingly and willfully executing a scheme to defraud any healthcare benefit program, including private payors.

The false statements

statute prohibits knowingly and willfully falsifying, concealing or covering up a material fact or making any materially false, fictitious

or fraudulent statement in connection with the delivery of or payment for healthcare benefits, items or services.

A violation of either

of these statutes is a felony and may result in fines, imprisonment, exclusion from Medicare, Medicaid or other federal or state healthcare

programs, or integrity oversight and reporting obligations to resolve allegations of non-compliance.

Fraud and Abuse Laws

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general, under the JOBS Act a company is an “ emerging growth company ” if its initial public offering (“ IPO ”)

of common equity securities was affected after December 8, 2011, and the company had less than $1.07 billion of total annual

gross revenues during its last completed fiscal year.

A company will no longer qualify as an “ emerging growth company ”

after the earliest of

of common equity securities was affected after December 8, 2011, and the company had less than $1.07 billion of total annual gross revenues

during its last completed fiscal year.

A company will no longer qualify as an “ emerging growth company ” after the

completion of the fiscal year in which the company has total annual gross revenues of $1.07 billion or more,

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and Development.

the last two fiscal years, Trxade.com, DelivMeds, MedCheks Health Passport and Bonum Health have been developed as proprietary

For the years ended December 31, 2021, and 2020, $509,210 and $662,726, respectively, was

spent by the Company in research and development activities, which were included in general and administrative expenses.

None of these

expenses were borne directly by customers.

we have approximately 47 full-time employees.

the last two fiscal years, Trxade.com, DelivMeds and Bonum Health have been developed as proprietary software.

2022, management determined that the research and development costs could be capitalized due to the stage of development for

The capitalized asset for Fiscal 2022 was $450,845.

For Fiscal 2021 $509,210 was spent by the Company in

research and development activities, which were included in technology expenses.

None of these expenses were borne directly by

we have approximately 33 full-time employees and one part time employee.

Our compensation programs are designed to align the compensation of our employees

with performance and to provide the proper incentives to attract, retain and motivate employees to achieve superior results.

The structure

of our compensation programs balances incentives earnings for both short-term and long-term performance such as health insurance, paid

time off and flexibility schedules.

To empower employees to unleash their potential, we provide onboarding training, development mentorship

with C-suite executives, and one on one coaching.

The Company believes that its rich culture of inclusion and diversity enables it to

create, develop and fully leverage the strength of its workforce to exceed customer expectation and meet its growth objectives.

places a high value on diversity and inclusion.

structure of our compensation programs balances incentives earnings for both short-term and long-term performance such as health

insurance, paid time off and flexibility schedules.

To empower employees to unleash their potential, we provide onboarding training,

development mentorship with C-suite executives, and one on one coaching.

The Company believes that its rich culture of inclusion and

diversity enables it to create, develop and fully leverage the strength of its workforce to exceed customer expectation and meet its

growth objectives.

The Company places a high value on diversity and inclusion.

also utilize numerous outside consultants.

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We are not a party to any collective bargaining agreements and have not experienced any strikes or work stoppages.

our relations with our employees to be satisfactory.

our relations with our employees and consultants to be satisfactory.

business is not directly affected by seasonal fluctuations but is affected indirectly by the fall and winter flu season, to the extent

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business