Matribhumi Samachar English
Vancouver, British Columbia–(Newsfile Corp. – March 28, 2025) – Beyond Medical Technologies Inc. (CSE: DOCT) (FSE: 7FM) (OTC Pink: DOCKF) (“Beyond Medical” or the “Company”) is pleased to provide an update on the Company’s operations and business strategy.
Corporate Update
Management Changes
In February 2025, Company implemented a significant refresh of its executive leadership and board of directors, reflecting its strategic shift toward financial optimization, operational growth, and blockchain-integrated treasury initiatives. The following management and board changes occurred during the month:
Daniel Liu was appointed Chief Executive Officer and a Director, effective February 3, 2025, replacing former CEO Kal Malhi.
Hongming Luo was appointed as a Director on February 4, 2025, replacing Harveer Sidhu.
Steven McAuley was appointed to the Board of Directors on February 13, 2025.
Stevenson Ty was appointed Interim Chief Financial Officer on February 13, 2025, replacing Jatin Baski.
Litong Cao was appointed Chief Operating Officer on February 24, 2025, following the resignation of Michael Kelly as a director.
(collectively, the “Management Changes”)
Director and Officer Biographies
Daniel Liu (Chief Executive Officer and Director): Mr. Daniel Liu brings significant leadership experience across the technology and investment sectors. Prior to joining Beyond Medical, he successfully founded and exited two financial technology ventures. He also led more than $2 billion in solar energy transactions during his tenure at CIT. As Chief Executive Officer, Mr. Liu is responsible for guiding the company’s strategic vision, overseeing capital markets initiatives, and advancing its digital transformation agenda. Mr. Liu holds a Bachelor of Science degree in Business Administration and Management from the University of Southern California.
Hongming Luo (Director): Mr. Hongming Luo is a seasoned entrepreneur and technologist with a distinguished track record in artificial intelligence, infrastructure, healthcare technology, and derivatives markets. He previously served as Investment Lead at Mask Network, which manages a $100 million ecosystem fund dedicated to frontier technologies. Mr. Luo is also the Co-founder of Next.ID, an infrastructure protocol designed for decentralized identity (DID) creation, relationship mapping, and secure data integration across diverse digital identifiers. In addition, he co-founded PulzAid, an innovative medtech company that developed advanced triage systems to optimize patient intake and alleviate emergency room congestion. Mr. Luo holds both a Bachelor’s and a Master’s degree in Computer Science from the University of California, Berkeley.
Steven McAuley (Director): Mr. McAuley is a highly experienced business executive and corporate director with over 30 years of leadership across diverse sectors, including healthcare, technology, automotive, and financial services. He previously served as Chairman and CEO of Empower Clinics Inc. (CSE: CBDT) and currently advises a private biotech company while offering capital market services to emerging companies. Additionally, Mr. McAuley has held senior executive roles in several publicly listed companies. Throughout his career, he has demonstrated exceptional expertise in corporate governance, P&L management, legal affairs, investor relations, and strategic planning.
Stevenson Ty (Interim Chief Financial Officer): Stevenson Ty has over 10 years of experience in both public and private companies across a broad range of industries including mineral exploration, bitcoin mining, technology, cannabis and psilocybin companies through his role as a consultant with Ty Consulting Inc., a firm providing corporate accounting services to Canadian public and private companies, since October 2016. Mr. Ty is a Chartered Professional Accountant (CPA) and holds a Bachelor of Technology degree in Accounting from the British Columbia Institute of Technology.
Litong Cao (Chief Operating Officer): Ms. Cao brings significant experience in institutional investment and operational leadership. She previously served as COO at Parallel, a Sequoia-backed fintech company, and as Head of Investments at a family office, where she played a key role in launching and managing a $1 billion liquid fund. Her proven ability to scale organizations and execute high-growth strategies will be instrumental as Beyond Medical advances into its next stage of growth.
Strategic Licensing Agreement for Efficient Deployment
Beyond Medical has entered into a licensing agreement with Ethsign Limited (“Ethsign”), a blockchain software provider specializing in Ethereum-based attestations (the “Licensing Agreement”). In exchange for the foundational software provided by Ethsign, the Company will pay a fixed fee of $25,000 payable via the issuance of 192,308 shares of the Company priced at $0.13 per share. The license has an initial term of one year but may be renewed upon mutual agreement for up to two additional successive one year terms. The license is non-exclusive, non-sublicensable and non-transferable. This collaboration will allow the Company to leverage existing technology used by over two million users worldwide and facilitate rapid deployment while reducing capital expenditures.
Business Strategy Update
Enhancing Medical Technology with Blockchain
Blockchain technology provides an immutable and decentralized framework for securing and verifying medical records, addressing data integrity, access control, and auditability-key concerns in modern healthcare systems. Unlike traditional centralized databases, which are vulnerable to data breaches and unauthorized modifications, blockchain ensures that once medical records are hashed (converted into cryptographic signatures) and stored on the blockchain, they cannot be altered or deleted. This guarantees authenticity and prevents fraudulent modifications, ensuring patient records remain verifiable and tamper-proof.
Beyond Medical is actively in the process of building a blockchain attestation system that leverages decentralized verification to enhance trust in medical recordkeeping. Instead of relying on a single central authority, blockchain employs distributed ledger technology (DLT), where multiple independent nodes verify and authenticate records. This approach eliminates single points of failure, making medical data more secure and resilient against cyberattacks.
The integration of smart contracts further strengthens regulatory compliance by automating processes such as access control, authentication, and adherence to healthcare data standards like HIPAA, GDPR, and other international regulations. These self-executing contracts enforce predefined rules, ensuring that only authorized healthcare professionals, insurance providers, or patients can access specific data, reducing human error and administrative inefficiencies.
Another potential key advantage of blockchain integration is improved interoperability across healthcare systems. Current medical databases often operate in silos, limiting the seamless exchange of patient information between hospitals, insurers, and government health agencies. By utilizing tokenized access rights and encrypted data exchange mechanisms, the Company believes blockchain enables secure, real-time medical record sharing, ensuring better coordination of care while maintaining patient consent and control over their personal health data.
The demand for secure and transparent data management in healthcare continues to grow, driving investment in blockchain-based solutions. According to Grand View Research, the global blockchain in healthcare market size was estimated at USD 7.04 billion in 2023 and is projected to reach USD 214.86 billion in revenue by 2030, with an expected compound annual growth rate (CAGR) of 63.3%. This forecasted rapid expansion underscores the increasing need for secure, verifiable medical data solutions.
Ethereum: A Secure and Scalable Foundation for Medical Innovation
Beyond Medical has selected Ethereum as the foundational blockchain for its attestation service, recognizing its proven security, scalability, and flexibility in managing and verifying medical records. Ethereum’s smart contract capabilities provide a trustless, automated framework for securely handling sensitive healthcare data, while its decentralized architecture ensures that records remain tamper-proof and resistant to single points of failure.
Research has demonstrated that blockchain, particularly Ethereum, can enhance the security and privacy of electronic health records (EHRs) by eliminating unauthorized access, improving auditability, and ensuring data integrity. By leveraging Ethereum’s public and permissionless infrastructure, Beyond Medical can provide a transparent yet secure method for verifying medical records, benefiting healthcare providers, insurers, and patients alike.
To facilitate its blockchain operations, Beyond Medical may periodically acquire Ethereum tokens (“ETH”) to cover transaction fees (gas fees) associated with smart contract execution and to operate a self-hosted node or nodes, further enhancing network security and data integrity. The Company acknowledges that cryptocurrency markets are subject to volatility, and the value of ETH may fluctuate based on market conditions. There are no assurances that the volatility of such an asset class may subside in the future and any future appreciation of the asset may largely be the result of speculation from the investing public.
As part of the Company’s ongoing commitment to compliance and transparency, a Treasury Division will be established to align the Company’s digital asset treasury with industry standards and operate similar to how corporations may manage their fiat currency reserves like CAD, USD, and EUR. The Company intends to leverage the foundations rooted in blockchain attestation to ensure a secure digital asset management framework for transaction integrity and financial accountability.
Beyond Medical remains focused on utilizing Ethereum as a functional and secure infrastructure layer for advancing innovation in medical technology.
The Company will seek shareholder approval by written consent for the above-mentioned business plan and the Management Changes.
Strengthening Financial Position and Business Growth
Under new management, Beyond Medical has taken steps to enhance its financial position, with the goal of long-term sustainability and operational growth. Through strategic debt reduction and capital infusion, the Company has reinforced its balance sheet, providing greater flexibility in executing its business objectives. As previously disclosed, the Company first settled $395,000 of debt through issuance of shares on February 6, 2025. As part of the $375,000 private placement dated February 24, 2025, the Company settled the remaining $179,750 of debt and the remaining $195,250 of cash will be used for near term working capital. Since closing the private placement, the Company has incurred various expenses related to business development and product development which amount to approximately 10% of the cash raised. As of March 27, 2025, the Company held a cash balance of approximately CAD $172,018, reflecting its current working capital position.
Currently, Beyond Medical is in the early stages of establishing business relationships with prospective partners, clients, and other third parties that align with its long-term goals. Leveraging management’s prior experience in medical technology, specifically in triage solutions, the Company aims to have integrated blockchain-based attestations for secure and verifiable medical record verification by the end of the second quarter of 2025. Additional guidance on business progress will be provided as developments occur.
Termination of Elite Horizon Acquisition
Further to the Company’s news release dated February 26, 2025, the Company has decided not to pursue the acquisition of Elite Horizon Management, Inc.
About Beyond Medical Technologies Inc.
Beyond Medical Technologies Inc. is a healthcare technology company focused on enhancing medical data security, transparency, and efficiency. By integrating blockchain technology into its healthcare solutions, the Company is strengthening its commitment to advancing medical innovation, protecting patient data, and ensuring compliance with regulatory standards. In an increasingly digital healthcare landscape, Beyond Medical is dedicated to developing secure, verifiable, and interoperable solutions that improve the integrity and accessibility of the medical industry.
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the accuracy or adequacy of this release.
FORWARD-LOOKING STATEMENTS
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, statements regarding the goals and plans of the Company, the benefits of blockchain attestation systems in medical technology, the benefits of smart contracts in the healthcare industry, the anticipated growth of blockchain in the healthcare industry, the expected benefits of the Licensing Agreement, the type and timing of the Company’s product offerings, the volatility and value of Ethereum tokens, the benefits each new member of management will bring to the Company, shareholder approval of the business plan and Management Changes, and the timing of additional disclosure on the Company’s business progress. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that the Management Changes will provide benefits to the Company, that the use of blockchain attestation systems in medical technology will enhance data security, regulatory compliance and transparency, that the use of smart contracts will strengthen regulatory compliance with healthcare data standards, that the global blockchain in healthcare market size with grow as forecasted by Grand View Research, that the Company will obtain shareholder approval for the business plan and Management Changes by written consent, that the Company will derive the expected benefits from the Licensing Agreement, that the Company will have a medical technology product ready before the end of the second quarter of 2025, that the value of Ethereum tokens will continue to be volatile in the future and that price appreciation may be driven by speculation, and that the Company will continue to provide updates on its business progress. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information contained in this news release, including: adverse market conditions, general economic, market or business risks, unanticipated costs, that blockchain will not provide the expected benefits in medical technology, that the Company will not benefit from the Management Changes, that smart contracts will not strengthen regulatory compliance with healthcare data standards, that the market size of global blockchain in healthcare will not grow at the rate forecasted, or at all, that the Company will be unable to realize the expected benefits from the Licensing Agreement, that the Company will be unable to obtain shareholder approval for the business plan and Management Changes, or will seek approval in a manner other than written consent, that that the Company will not have a product ready before the end of the second quarter of 2025, that the Company will not be able to complete the Offering as currently anticipated, that the price of Ethereum tokens will not appreciate as a result of speculation, that the Company will not provide additional guidance on business progress and other factors beyond the control of the Company, including those other risks more fully described in the Company’s annual and quarterly management’s discussion and analysis and other filings made by the Company with Canadian securities regulatory authorities under the Company’s profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on such statements. Accordingly, the forward-looking statements contained in this news release are made as of the date hereof and, unless required by applicable law, the Company assumes no obligation to update any forward-looking statement.
Featured Article
