OTC Bulletin Board

S & P Company Insight for WELLTEK INC
 
 Profile

 
Business Summary: Welltek Incorporated operates as a health, fitness and wellness company that provides solutions to help address the challenges of obesity and chronic neck and back pain. It manufactures and distributes the MedX line of medical and fitness equipment.
 
Address
  1030 North Orange Avenue, Suite 105
  Orlando , FL 32801
  Phone: 407-704-8950
  Fax: 407-704-8951
  Website: http://www.welltekinc.com
Auditor
  Jewett, Schwartz, Wolfe & Associates
Transfer Agent
  Signature Stock Transfer, Inc.
Employees:  20
ShareHolders:  122
Founded:  2009
Domicile:  Nevada
 
  
 
 Background

 
WellTek Incorporated operates as a health, fitness and wellness company that provides solutions to help address the challenges of obesity and chronic neck and back pain. The company's operating divisions include MedX Limited and Pure HealthyBack. MedX Limited is the manufacturer and distributor of the MedX line of medical and fitness equipment. Pure HealthyBack is building a national network of medical back and neck rehabilitation centers offering managed care companies, self-insured employer groups and federal government agencies a proprietary program which is designed to substantially reduce spine treatment costs and get patients out of the formal healthcare system. MedX products achieve training efficiency through resistance curves matched to tested and proven strength profiles. They operate at a very low level of friction using bio-mechanical precision and offer a choice of resistance in two-pound increments. The MedX Lumbar Extension Machine provides functional testing and spinal therapy. The MedX Cervical Extension Machine is similar to the MedX Lumbar Machine in that it isolates the deep musculature that normally stabilizes the spine. Pure HealthyBack uses MedX medical machines and rehabilitative exercise protocols to help patients resolve chronic back and neck pain. Treatment is directed by staff physicians and administered by exercise physiologists and athletic trainers. The protocols emphasize aggressive muscle strengthening to restore function and promote patient independence so the patient does not re-enter the healthcare system.
History:  INCORPORATED in Nevada Jan. 23, 2009, as Pharmacity Corporation; name changed to WellTek Incorporated Sept. 29, 2009. On Nov. 12, 2009, MedX Systems, Inc., a Florida corporation, merged into WI Acquisition, Inc., a wholly owned subsidiary of the the company. Concurrently with the closing of the merger, each issued and outstanding Common share of MedX was converted into 5.4127574 Common shares of the company. MedX Systems, Inc. was established in June 2008.
 
Subsidiaries:
MedX Limited
Pure Healthy Back, Inc.
WI Acquisition, Inc.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Randy  LubinskyChairman & Chief Executive Officer
 Mark  SzporkaSecretary, Treasurer & Chief Financial Officer
 Dodi  HandyInvestor Relations Contact

Directors
 Randy  Lubinsky
 Mark  Szporka
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
Revenues 2,5412,202
Cost of revenues1,2831,616
Gross profit 1,258586
Operating expenses2,5292,655
Other income (expense)-(47)
Depreciation11667
Interest expense3365
Net income(1,723)(2,188)
Share earns. basic($0.03)($0.05)
Share earns. diluted($0.02)($0.04)
 
Balance Sheet
  20092008
Assets-
Cash34-
Accts. rec., net195272
Inventories97271
Prepayments1727
Tot. curr. assets343570
Investments100-
Net property264381
Total assets707951
Liabilities-
Bank overdraft-8
Notes payable578151
Due to related party110105
Cap. lease obligs.2340
Accts. pay.387599
Accruals396110
Other curr. liabs.95128
Total curr. liabs.1,5891,141
Stockholders' Equity
Common stock, $.00001 par value11
Treasury stock(120)(120)
Paid-in cap.3,1492,117
Retained earnings(3,912)(2,188)
Total Liabilities707951
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   Full Year 2,060,000
 
 
Quarterly Net Income
 
Data Not Available
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   Full Year (.12)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.00001200,000,00086,258,828
Preferred no par5,000,000None
 
LONG TERM DEBT: None.
 
Common $0.00001 par
 
Stockholders:  03/31/2010, 122.
Transfer Agent:  Signature Stock Transfer, Inc.   Plano , TX
 
OTC Bulletin Board( Primary): WTKN
 
ExchangeYearHighLow
OTC Bulletin Board200912.00000.0800
 
DIVIDENDS: Common $0.00001 par: No cash. Common split 40-for-1, ex-Nov. 5, 2009.