Bio Essence Corp

Bio Essence Corp. announced the election of Thea Zhang and Geoff Fellows as Directors to its Board, following a shareholder written consent. Ms. Zhang brings extensive experience in business operations and commercialization, while Mr. Fellows offers over three decades of expertise in finance, operations, and governance. Concurrently, shareholders approved an amendment to the company's Bylaws, removing the previous limit of three Directors and increasing the maximum number of Directors to ten, allowing for future board expansion.

Bio Essence Corp. reported a net income of $205,373 for the first quarter ended March 31, 2026, a significant improvement from a net loss of $205,752 in the prior year period. Total revenues surged to $500,537, primarily from OEM services. The company also issued 8.8 million common shares for $440,000 and is actively addressing a going concern issue, seeking new business opportunities and additional financing, while facing a legal dispute over a lease.

Bio Essence Corp. has entered into an Asset Purchase Agreement to acquire the MediFlow AI software, previously known as AcuVital, from Zhituo Software Co., Limited. This acquisition encompasses all associated software source code, system architecture, and data. In exchange, Zhituo will receive $3.5 million worth of Bio Essence common stock, with the final valuation and share count awaiting approval from the company's Board of Directors.