This is an insider ownership disclosure, not an activist filing. Leath is already on the board and has no stated plans to push for changes. Monitor for any subsequent amendments that signal a shift in intent, but the current filing is routine.
Price Chart
Executive Summary
Insider Mack Leath filed a Schedule 13D disclosing beneficial ownership of 1,341,477 shares of Mitesco common stock (7.05% of shares outstanding as of March 31, 2025), plus 2,400 shares of Series X Preferred Stock carrying 400 votes each, giving him 8.85% of total voting power. Leath is already an officer and director of the company and acquired the stake primarily through debt conversion, director compensation, and open-market purchases. The filing states no current plans for extraordinary corporate actions, board changes, or a sale of the company, making this a passive/insider ownership disclosure rather than an activist campaign.
Key Financial Metrics
Key Facts
- Mack Leath beneficially owns 1,341,477 shares of common stock (7.05% of shares outstanding as of March 31, 2025) and 2,400 Series X Preferred shares (400 votes each), giving 8.85% voting power.
- Leath is already an officer and director of Mitesco since December 15, 2023.
- Acquisition sources include: open-market purchases ($786 total), a $50,000 promissory note conversion, director compensation (Series X Preferred), and service-based stock grants.
- The filing explicitly states no current plans for mergers, asset sales, board changes, capitalization changes, or delisting.
- Mitesco's 10-K (Dec 2025) shows a market cap of ~$2.6M, going-concern doubt, and a history of losses.
- The company has 20,776,179 shares outstanding as of April 13, 2026, but the 13D uses 11,157,012 shares for its percentage calculation (as of March 31, 2025).
Financial Impact
No material financial impact from this filing alone. Leath's stake is largely compensation and debt-settlement related, not a new activist position.
Risk Factors
- Leath's large voting block (8.85%) could be used to support or block shareholder proposals, but no current plans are disclosed.
- Mitesco's going-concern status and thin trading volume create inherent risk independent of this filing.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D Filing (Primary) | 0001185185-26-004605 |
| Document: 0001185185-26-004605-index.html | 0001185185-26-004605 |
| Document: 0001185185-26-004605.txt | 0001185185-26-004605 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | 8-K | $0.0400 $0.0400 | · 0.00% | ▼ −1.15% | $0.0300 (+25.00%) |
Oct 6, 2026 21d ago | SC 13D | $0.0500 $0.0400 | ▼ −20.00% | ▼ −19.86% | $0.0300 (−40.00%) |
Jul 24, 2026 13w ago | EFFECT | $0.0600 $0.0400 | ▼ −33.33% | ▼ −34.43% | $0.0300 (−50.00%) |
Jun 8, 2026 20w ago | 8-K | $0.0800 $0.0700 | ▲ +12.50% | ▲ +14.30% | $0.0300 (+62.50%) |
Apr 24, 2026 26w ago | 8-K | $0.0700 $0.0700 | · 0.00% | ▼ −0.40% | $0.0300 (−57.14%) |
Apr 15, 2026 27w ago | 8-K | $0.1000 $0.0900 | ▲ +10.00% | ▲ +10.98% | $0.0300 (+70.00%) |
US Market Status
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