UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38797 IMAC Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 83-0784691 (State or Other Jurisdiction of I ...

Golden, CO, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Ignite Proteomics LLC, a subsidiary of IMAC Holdings, Inc. (Nasdaq: BACK), today announced the presentation of new data demonstrating that MHC-II protein expression is a superior predictor of response to pembrolizumab (Keytruda®) compared to PD-L1 at the upcoming National Comprehensive Cancer Network (NCCN) Annual Conference. The study, conducted with I-SPY 2 clinical trial results, evaluated five different PD-L1 antibodies – including the one most commonly used ...

Golden, CO, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Ignite Proteomics LLC, a subsidiary of IMAC Holdings, Inc. (Nasdaq: BACK), today announced the completed transfer of Proprietary Laboratory Analyses (PLA) code 0249U – originally issued to Theralink Technologies, Inc. – to Ignite Proteomics LLC. The AMA CPT code is listed on the Medicare Clinical Laboratory Fee Schedule (CLFS) and is addressed by the Palmetto GBA MolDx “Proteomics Testing” article (A59636). This milestone integrates both the laboratory capabilit ...

The new study adds to growing evidence that measuring activated proteins is key to cancer therapy selection. Golden, CO, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Ignite Proteomics LLC, a subsidiary of IMAC Holdings, Inc. (Nasdaq: BACK), announces the publication of a significant study in the British Journal of Cancer titled "Functional activation of the AKT–mTOR signalling axis in a real-world metastatic breast cancer cohort". This research underscores the critical importance of measuring functional protein activa ...

Nashville, TN, Jan. 27, 2025 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC Holdings” or the “Company”) has launched Ignite Proteomics LLC (“Ignite”), its new subsidiary dedicated to helping doctors select the most effective cancer treatments based on protein-level insights. This move addresses a growing need for better, faster ways to personalize therapy in breast cancer and beyond. Why Proteins Matter – Beyond Genomics Although genomics (gene-based) testing has become common, patients and p ...

Financial Performance - Net loss for the nine months ended September 30, 2024 was $3,995,271, compared to $7,959,631 in the same period of 2023, representing a 49.8% improvement[14] - Net loss for the nine months ended September 30, 2024, was $3,995,271, compared to $7,960,429 in the same period in 2023, showing a significant improvement[20] - Net loss per share improved from $7.28 in the nine months ended September 30, 2023 to $3.64 in the same period of 2024, a 50.0% enhancement[14] - Revenues for the nine months ended September 30, 2024 were $72,050, compared to $0 in the same period of 2023[14] - Revenues from continuing operations for the three months and nine months ended September 30, 2024 were $56,300 and $72,050, respectively[81] - Net cash used in operating activities for the nine months ended September 30, 2024, was $2,025,227, compared to $2,957,156 in the same period in 2023[20] - Net cash used in operations decreased to approximately $2.0 million for the nine months ended September 30, 2024, compared to $3.0 million for the same period in 2023[92] Assets and Liabilities - Cash decreased from $221,511 in December 2023 to $195,511 in September 2024, a decline of 11.7%[12] - Total current assets dropped from $1,144,119 in December 2023 to $510,738 in September 2024, a significant decrease of 55.4%[12] - Accumulated deficit increased from $55,938,325 in December 2023 to $59,933,596 in September 2024, a growth of 7.1%[12] - Additional paid-in capital decreased slightly from $55,184,524 in December 2023 to $55,133,084 in September 2024, a marginal decline of 0.1%[12] - Working capital deficit increased to ($5.5 million) as of September 30, 2024, compared to ($0.8 million) as of December 31, 2023[74] - As of September 30, 2024, the company had $0.2 million in cash and negative working capital of $5.8 million[95] - The company had an accumulated deficit of $59.9 million as of September 30, 2024[97] - Operating lease obligations as of September 30, 2024 totaled $506,547, with $117,758 due within one year[98] Equity and Stock - Preferred stock increased from 4,550 shares in December 2023 to 45,826 shares in September 2024, a substantial growth of 907.1%[12] - Weighted average common shares outstanding increased from 1,102,738 in the nine months ended September 30, 2023 to 1,414,912 in the same period of 2024, a rise of 28.3%[14] - Preferred stock sales generated gross proceeds of $1.35 million during the nine months ended September 30, 2024[36] - Total liquidation value of preferred shares outstanding as of September 30, 2024, was $52,241,000[40] - The company amended its 2018 Incentive Compensation Plan to increase the number of shares authorized for issuance from 66,667 to 566,667 shares[24] - The company issued common stock purchase warrants with a total value of $8.4 million, with a weighted average exercise price of $2.60[37] - The Company entered into a Common Stock Purchase Agreement with Keystone Capital Partners, LLC, allowing the sale of up to $60 million of newly issued shares of Common Stock[63] Expenses and Costs - Total operating expenses for the nine months ended September 30, 2024 were $3,684,636, a decrease of 35.3% from $5,697,144 in the same period of 2023[14] - Laboratory supplies for the three months and nine months ended September 30, 2024 were approximately $70,000 and $107,000, respectively[84] - Laboratory depreciation for the three months and nine months ended September 30, 2024 was approximately $52,000 and $87,000, respectively[85] - Salaries and benefits expenses increased by $277,000 in the three months ended September 30, 2024 compared to the same period in 2023[88] - General and administrative expenses increased by $707,000 in the three months ended September 30, 2024 compared to the same period in 2023[90] Acquisitions and Financing - The company acquired Theralink assets, resulting in the recording of long-lived assets of $1.1 million and the settlement of note receivables of $1.1 million[34] - The company issued promissory notes totaling $2.0 million, with cash proceeds of approximately $1.4 million during the nine months ended September 30, 2024[35] - The Company issued promissory notes in October 2024 with an aggregate principal amount of $0.3 million, maturing on the earlier of June 18, 2025, or the consummation of a securities offering[60] - The Company entered into a PIPE Financing agreement, issuing 4,676 shares of Series G convertible preferred stock and 2,977,711 warrants for aggregate proceeds of $3,740,000[61] - The Company used $2.2 million of the PIPE Financing proceeds to repay outstanding promissory notes[62] Discontinued Operations - The company has discontinued operations related to IMAC Regeneration Centers, The BackSpace retail stores, and the Investigational New Drug division[25] - Discontinued operations resulted in a net loss of $31,992 for September 30, 2024, compared to a net loss of $2,196,405 for the same period in 2023[44] Internal Controls and Reporting - The company identified material weaknesses in internal control over financial reporting, leading to ineffective disclosure controls and procedures as of September 30, 2024[105] - No changes in internal control over financial reporting were identified during the most recent fiscal quarter that materially affected or are likely to affect the company's financial reporting[106] - Insufficient resources in the accounting department restrict the company's ability to gather, analyze, and review financial reporting information in a timely manner[107] - The company faces challenges in segregating conflicting duties due to its size and nature, which has been identified as a material weakness in internal controls[107] Legal and Regulatory Matters - The Company received a recommendation from Covent Bridge Group for overpayment of $2.7 million related to Progressive Health, with 38 claims reviewed and 15 claims supported by medical necessity[50][51][52] - The Company received a recommendation from Covent Bridge Group for overpayment of $0.5 million related to Advantage Therapy, with a partially favorable decision supporting the appealed claims[55][56] - The Company received a notification from Covent Bridge Group estimating an overpayment of $1.1 million at a patient center in MO, with plans to appeal by filing a redetermination request[65] - The Company has not recorded a provision for any claims as of September 30, 2024, due to the inability to estimate a possible loss or range of loss[59] Strategic Focus - The company's continuing operations focus on precision medicine in cancer treatment, leveraging acquired laboratory capabilities from Theralink Technologies, Inc[23]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share BACK NASDAQ Capital Market Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☒ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 ☐ TRANSITION ...

Nashville, TN, Sept. 19, 2024 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC Holdings” or the “Company”), a leader in innovative healthcare solutions, proudly announces the launch of an entirely new precision oncology assay for breast cancer treatment decision making utilizing the Reverse Phase Protein Array (RPPA) technology through its newly established subsidiary, Ignite Proteomics LLC (“Ignite Proteomics”). This launch follows IMAC Holdings’ strategic acquisition of key assets from Theral ...

FRANKLIN, TN, Aug. 23, 2024 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (“IMAC” or the “Company”) (NASDAQ: BACK) today announced that it received an expected deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) on August 21, 2024 (the “Notice”). The Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of its failure to timely file its Quarterly Report on Form 10-Q for the period ende ...

Golden, CO, July 11, 2024 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (NASDAQ:BACK) (the "Company" or "IMAC"), a leading innovator in proteomics research and technology, announced the appointment of Dr. Peter Beitsch and Dr. Matthew Schwartz to its Board of Directors, effective June 26, 2024. This strategic move underscores the Company's commitment to advancing its position in the field of proteomics and driving innovation in precision medicine. Dr. Matthew Schwartz brings over 18 years of experience in the car ...