Neuraxis, INC

Analysis for Ticker: NRXS

Neuraxis Inc creates medical devices like a non-surgical earpiece that sends electrical pulses to treat stomach pain in children and a screening tool for adult constipation. While the mission sounds noble, the financial reality is a machine designed to move money from the public markets into the pockets of the people running the company. In 2025, the company brought in 3,5$ million from sales but managed to lose 7,8$ million because its office costs and executive pay were more than double its actual revenue. It is like a lemonade stand that sells 3$ worth of juice but spends 8$ on fancy chairs and bonuses for the kids running it, forcing them to constantly ask their parents for more money just to stay open. The mechanism of extraction began years ago when the company handed demand notes totaling 1,01$ million to two founding shareholders in 2016. This money was never paid back and was eventually written off as a total loss by the company. By 2025, the spending became more aggressive. The chief executive officer, Brian Carrico, was paid 936.439$ in total compensation while the business burned 6,4$ million in operating activities. The company even paid licensing fees to a private business owned by Brian Carrico and his father, Thomas Carrico, who serves as the chief regulatory officer. To fund this, they issued preferred stock with an 8,5% interest rate that had already piled up 1$ million in unpaid debt by the end of 2025. They also had to settle a lawsuit involving fraud and RICO allegations, agreeing to pay 750.000$ in monthly installments starting in 01/2026.