BitFrontier Capital Holdings, Inc. (OTCID: BFCH), doing business as UNLOCKD Inc., and NEXT10, Inc. (OTCID: NXTN) have announced additional details of their strategy to create a scalable health, wellness, longevity, and human-optimization platform. The plan combines physical wellness centers, consumer brands, and technology, with wellness centers expected to become a major operating component. According to NEXT10 recently disclosed, the companies have set three-to-five-year strategic objectives that include five to seven direct-to-consumer brands, approximately $65 million to $95 million in aggregate annual BFCH revenue, and a wellness-center footprint that could ultimately reach about 62 locations.
NEXT10 has identified its Tampa, Florida wellness center as the first expected operating contribution to BFCH and is evaluating additional facilities and equipment to support expansion. BFCH intends to develop a medically informed model spanning longevity, human performance, diagnostics, recovery, and other proactive health areas, integrating consumer products and technology into the experience. The company has studied emerging national concepts such as Restore Hyper Wellness and Upgrade Labs as examples of the growing consumer movement toward proactive, technology-enabled wellness. Restore has scaled a national network combining wellness therapies with medically supervised services, while Upgrade Labs, founded by Bulletproof founder Dave Asprey, has developed its “Human Upgrade Center” concept around data, technology, recovery, and performance.
“We aren't building a collection of unrelated wellness businesses,” said John P. Gorst, Chief Executive Officer of BFCH. “We are building a platform. The centers can generate revenue, introduce consumers to our brands and create a physical home for the UNLOCKD experience. Our brands can bring customers into the centers. Technology can connect everything. The opportunity is to make each part of the business more valuable because the other parts exist.” BFCH's existing portfolio includes Ancient Extracts, EVERMIND, and 1ENERGY. Management believes integrating consumer products with physical wellness operations creates opportunities for recurring revenue, customer acquisition, product discovery, and expansion into additional health and longevity categories.
“As a physician, this is where the strategy becomes especially compelling to me,” said Dr. Jordan P. Balencic, D.O., Chairman and Chief Science Officer of BFCH. “Consumers are increasingly taking ownership of how they age, perform and feel. We want to meet that demand with something more sophisticated than a traditional wellness studio -- combining medicine, science, technology and consumer wellness in a model that can ultimately be replicated at scale.”
Under the economic alignment, NEXT10 expects initially to acquire approximately 49% of BFCH and potentially increase its ownership to approximately 75% to 80% as additional assets are contributed. The companies previously established $0.0004 per issued and outstanding BFCH common share as the transaction reference value for NEXT10's initial investment. “Our interests are aligned,” said John B. Hayden, Chairman and Chief Executive Officer of NEXT10. “We expect NEXT10 to become a significant owner of BFCH, and we intend to help build what we own. We see an opportunity to contribute operating assets, capital resources and strategic support to a platform capable of becoming substantially larger than it is today.”
BFCH and NEXT10 are also exploring additional ways to align the companies and their shareholder communities, including potential future dividend or distribution structures that could provide eligible NEXT10 shareholders with direct participation in BFCH ownership. The companies are developing a broader capital relationship to support BFCH's acquisition and expansion strategy, with additional details expected as that structure is finalized. For BFCH, the strategy is designed around a straightforward objective: acquire revenue, build scalable operations, and create a substantially larger health and wellness enterprise.
