Guardion Health Sciences, Inc. (GHSI): Business Model Canvas [Dec-2025 Updated]

You're looking at Guardion Health Sciences, Inc. (GHSI) in late 2025, and honestly, the operating business model you might remember is completely gone; the firm has formally shifted into a wind-down, focusing entirely on maximizing shareholder return from asset sales. The key event here is the Viactiv business sale, which brought in a gross $17.2 million, aiming to deliver approximately $3.25 per share back to you, the stockholder. This Business Model Canvas breaks down the final, highly specific mechanics of this liquidation-from settling all remaining liabilities to managing the final cash distribution-so you know exactly where the remaining value stands as the company closes its books.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Key Partnerships

You're looking at the final structure of Guardion Health Sciences, Inc.'s business model, which, as of late 2025, is dominated by the wind-down process following the asset sale and dissolution approval.

The key partnerships are centered around the finalization of the Plan of Liquidation and Dissolution, which became effective on October 30, 2024, with the filing of the certificate of dissolution with the State of Delaware.

Legal counsel (Sheppard Mullin) for dissolution and asset sale

Sheppard Mullin, Richter & Hampton LLP acted as legal advisor to Guardion Health Sciences, Inc. in the transaction process.

• Legal counsel for Guardion Health Sciences, Inc. in the Viactiv sale: Sheppard Mullin, Richter & Hampton LLP.
• Legal advisor to Doctor's Best: Musick Peeler & Garrett LLP.

Doctor's Best Inc. as the buyer of the Viactiv business

The sale of the Activ Nutritional, LLC subsidiary, which owned the Viactiv brand and business, to Doctor's Best Inc., a wholly-owned subsidiary of Kingdomway USA Corp., was a critical event leading to the dissolution.

Financial advisors for asset management and distribution

Alantra, LLC served as the exclusive financial advisor to Guardion Health Sciences, Inc. during the strategic review process that culminated in the Viactiv sale.

• Exclusive Financial Advisor for Viactiv Sale: Alantra, LLC.
• Alantra USA and Alantra Partners S.A acted as financial advisor in the transaction.

The expected distribution to stockholders post-dissolution filing was anticipated to total approximately $3.25 per share of Common Stock, though this was not assured.

State of Delaware for legal dissolution filing and oversight

The State of Delaware is the jurisdiction governing the legal wind-down of Guardion Health Sciences, Inc.

The Certificate of Dissolution was filed with the Secretary of State of the State of Delaware, becoming effective on October 30, 2024.

Under the General Corporation Law of the State of Delaware (DGCL), Guardion Health Sciences, Inc. will continue for a term of three years following the Effective Date, or longer as directed by the Delaware Court of Chancery, for the purposes of settling and closing the business.

The Board of Directors retains the option to delay or abandon the dissolution if a better alternative emerges.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Key Activities

Guardion Health Sciences, Inc. is operating under a Plan of Liquidation and Dissolution effective October 30, 2024. The key activities are focused entirely on concluding corporate affairs rather than generating new revenue from its former business lines, such as the Viactiv brand sold in May 2024.

The company will continue for a term of three years following the Effective Date, or until October 30, 2027, solely to wind down its business affairs. The latest reported activity includes the filing of a Quarterly report for the quarter ending September 30, 2025, on November 5, 2025.

Key activities center on financial closure and administrative finalization:

• Settling all remaining liabilities and legal claims pursuant to Delaware law.
• Managing and distributing remaining cash and assets to stockholders.
• Filing final administrative and regulatory documents, including the Form 15 to suspend reporting obligations.
• Preserving the value of any residual assets over the three-year wind-down period.

The primary financial activity is the distribution of proceeds from the Viactiv sale, which generated $17.2 million in cash.

The settlement of liabilities is prioritized, meaning the final distribution amount is contingent on satisfying all creditor claims, fees, taxes, and unanticipated liabilities before stockholders receive any remaining funds. The initial anticipated distribution was $3.25 per share, which was expected to be paid by December 27, 2024.

Regulatory filings are a necessary administrative activity during this phase. The company filed its certificate of dissolution effective October 30, 2024. Furthermore, Guardion Health Sciences, Inc. was granted relief by the SEC to indefinitely suspend its reporting obligations under the Securities Exchange Act of 1934, intending to file a Form 15. Still, the company filed a Form 10-Q for the quarter ending September 30, 2025, on November 5, 2025.

The activity of preserving residual assets is critical, as any cash reserves remaining after satisfying liabilities may result in an additional future distribution to stockholders.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Key Resources

You're looking at the core assets Guardion Health Sciences, Inc. (GHSI) held as it moved into its final wind-down phase following the major strategic shift in mid-2024. The key resources now center on the cash generated from the sale and the remaining, focused assets necessary to complete the liquidation.

The most significant resource is the cash realized from the divestiture of the Viactiv business. This transaction was the catalyst for the subsequent Plan of Liquidation and Dissolution approved by stockholders.

The company's remaining operational assets are minimal, focused primarily on the ocular health segment, which is now being managed for orderly wind-down. The expertise required is shifting from growth to compliance and asset disposition.

• Legal and Financial Expertise: Engaged for the Plan of Liquidation and Dissolution.
• Legal Counsel Mentioned: Sheppard Mullin advised on the Viactiv Sale and Liquidation Plan approval.
• Wind-Down Period: Guardion Health Sciences, Inc. will continue operations for three years solely to wind down business affairs.

The intellectual property and remaining assets are concentrated in the ocular health portfolio, which was the company's focus outside of the divested Viactiv brand. These assets represent the remaining value to be realized during the dissolution period.

Remaining Intellectual Property and Assets:

• Lumega-Z: A medical food product with a formula designed to replenish and restore macular protective pigment.
• VectorVision: Mentioned as part of the company's focus area, though specific financial details post-sale are not detailed in the latest filings [cite: User Outline].
• Ocular Health Business: The company develops medical foods and medical devices in the ocular health space.

Finance: draft 13-week cash view incorporating the $3.25 per share distribution liability by Monday.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Value Propositions

You're looking at the final chapter of Guardion Health Sciences, Inc.'s corporate life, where the value proposition shifts entirely from product sales to asset realization for the benefit of the owners. The entire focus is on a clean exit, which is a very specific, time-bound value proposition.

The core commitment here is delivering the maximum possible cash back to you, the stockholder, following the strategic decision to dissolve the company after selling the main asset.

The key value propositions driving the wind-down effort are:

• Maximizing the final liquidating cash distribution to stockholders
• Providing an orderly and legally compliant wind-down of operations
• Minimizing ongoing administrative and operating expenses
• Distributing approximately $3.25 per share to stockholders

Let's look at the numbers that underpin this final value delivery.

Maximizing Final Cash Distribution

The ability to distribute significant cash stems directly from the sale of the primary revenue driver. The sale of the Viactiv brand and business generated $17.2 million in cash proceeds, which directly funded the distributions to stockholders. This was a critical step, especially considering that Viactiv accounted for approximately 97% of total revenue in 2023 and Q1 2024.

You have already seen a significant return of capital:

• Cash Dividend paid on August 21, 2024: $5.00 per share.
• Subsequent Final Cash Distribution declared: $3.25 per share.

The expected payment date for this final $3.25 per share distribution was on or before December 27, 2024, for stockholders of record as of October 30, 2024.

Here is a snapshot of the liquidation events that created this value:

Orderly Wind-Down and Expense Minimization

The commitment to an orderly wind-down is legally defined and focused on preserving remaining assets while settling obligations. Guardion Health Sciences filed its Certificate of Dissolution on October 30, 2024, which was the Effective Date. Under Delaware General Corporation Law (DGCL), the company continues for a term of three years following this date, or longer if directed by the Delaware Court of Chancery, specifically for the purpose of settling business affairs and distributing assets.

Minimizing expenses is crucial because the remaining resources must cover liabilities before they reach you. You should note the financial state leading into this phase:

• Q1 2024 Net Loss: $-4.747 million
• Q1 2024 Revenue: $2.99M (a decrease of 5.8% from Q1 2023)
• Q1 2024 Gross Margin: Improved to 39.3% (up from 37.3% in Q1 2023)

After the Effective Date, Guardion explicitly stated it will not engage in any business activities beyond what is necessary to preserve asset value and complete the wind down. This strict limitation on activity is the mechanism for minimizing ongoing administrative and operating expenses, ensuring more capital remains for the final distribution. The company also received SEC approval to indefinitely suspend its reporting obligations.

Finance: draft final asset realization schedule against the three-year wind-down clock by next Tuesday.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Customer Relationships

You're looking at Guardion Health Sciences, Inc. (GHSI) in late 2025, and the customer relationship landscape is entirely defined by the company's Plan of Liquidation and Dissolution, approved back in May 2024. The relationship isn't about selling products anymore; it's about fulfilling final obligations to former equity holders and creditors.

Transactional relationship with stockholders via cash distributions

The primary, and likely final, transactional interaction with former stockholders is through the declared liquidating cash distributions. This is a one-way transfer of residual value, not an ongoing service relationship. The relationship is transactional because the stock transfer books were closed on the Effective Date of October 30, 2024, meaning new stock purchases are irrelevant to receiving these final payouts.

The key figures defining this relationship are the declared distributions:

The total estimated distribution from the liquidation, following the sale of the Viactiv brand for $17.2 million gross cash consideration, was initially projected to total between $9.00 and $11.00 per share. As of late 2025, the focus is on the realization of the $3.25 distribution declared in December 2024, assuming all liabilities have been settled as planned.

What this estimate hides is the potential for an additional distribution if the company retains cash reserves after satisfactorily settling all liabilities, but that remains contingent on the wind-down progress.

Formal legal communication with creditors to discharge liabilities

For creditors, the relationship is strictly formal and governed by Delaware General Corporation Law (DGCL). Guardion Health Sciences, Inc. is continued for a term of three years following the October 30, 2024 dissolution filing, specifically for the purpose of discharging its liabilities. This communication is not conversational; it involves legal filings and settlement negotiations.

The hierarchy of creditor interaction dictates the flow of funds:

• Administrative expenses and costs related to the liquidation are paid first.
• Secured creditors receive payment next.
• Unsecured creditors and general creditors follow.

The initial cash infusion enabling this process came from the Viactiv sale, which netted $16.25 million in cash at closing, plus an additional $225,000 held in escrow. The success of discharging liabilities hinges on whether these proceeds, plus any remaining asset value, cover all outstanding claims.

Investor relations focused solely on liquidation updates and filings

The Investor Relations function has transitioned from promoting growth to providing mandatory updates on the winding-down process. Communication is now purely administrative and compliance-driven, reflecting the company's status as a non-operating entity.

Key milestones that defined this shift include:

• Filing Form 25 with the SEC on or about October 11, 2024, to remove the common stock from the Nasdaq Capital Market.
• Official delisting of Common Stock effective October 21, 2024.
• Filing the Certificate of Dissolution with the Delaware Secretary of State on or about October 22, 2024, effective October 22, 2024.
• Receiving SEC approval to indefinitely suspend reporting obligations under the Securities Exchange Act of 1934.

The company's operational footprint shrank dramatically; as of October 30, 2024, Guardion will not engage in any business activities except those necessary to preserve asset value and complete the wind down. The last formal communication channel for investors is the right to receive distributions, which is the only right retained by stockholders after the October 30, 2024 closing of the stock transfer books. Finance: confirm the final status of the $225,000 escrow amount by next Tuesday.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Channels

You're looking at the distribution channels for Guardion Health Sciences, Inc. as of late 2025, which is a unique situation given the company is winding down operations following a stockholder-approved Plan of Liquidation and Dissolution.

Press releases and SEC filings for official distribution announcements

The primary channel for official announcements regarding distributions and corporate status changes has been through press releases, often filed with the SEC, though the company has since suspended its regular reporting obligations.

• Filing of Certificate of Dissolution with Delaware Secretary of State on October 30, 2024.
• Announcement of $3.25 per share cash distribution declaration on December 23, 2024, expected to be paid by December 27, 2024.
• Prior declaration of a cash dividend of $5.00 per share for stockholders of record as of September 9, 2024, paid on September 23, 2024.
• The sale of the Viactiv® brand and business to Doctor's Best Inc. for $17.2 million gross cash was completed, leading to the liquidation estimates.
• The company received SEC approval to indefinitely suspend its reporting obligations under the Securities Exchange Act of 1934.

The expected total liquidating distributions to stockholders were estimated to range between $9.00 and $11.00 per share contingent on the dissolution plan approval.

Stock transfer agent for processing cash distributions

The stock transfer agent is the operational channel responsible for executing the final payments to shareholders of record. This function is critical during the liquidation phase.

The company closed its stock transfer books on October 30, 2024, after which record holders only retained the right to receive distributions under the Plan. At September 30, 2024, there were 1,349,956 shares of Common Stock issued and outstanding.

Legal and administrative correspondence with remaining counterparties

This channel involves necessary communications to settle liabilities and manage the wind-down process, which Guardion Health Sciences, Inc. expects to continue for three years post-dissolution. Legal counsel was instrumental in structuring the exit.

• Sheppard Mullin represented Guardion Health Sciences, Inc. in the sale of its Viactiv business and the stockholder approval of the Liquidation and Dissolution Plan.
• The sale to Doctor's Best Inc. was for $17.2 million in cash, with net proceeds of $16.25 million and an additional $225,000 held in escrow.
• Post-Effective Date (October 30, 2024), activities are limited to preserving asset value, winding up affairs, and distributing assets according to the Plan under the General Corporation Law of the State of Delaware (DGCL).

Trading of the Common Stock was suspended on the Nasdaq Capital Market prior to the opening of trading on October 14, 2024.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Customer Segments

You're looking at the final phase of Guardion Health Sciences, Inc., which means the customer segments are now focused on liquidation recipients, not product buyers. Here's the quick math on who gets what as the entity winds down.

The core of the remaining relationship is the distribution of proceeds following the Certificate of Dissolution filing on October 30, 2024. The company will continue for a term of three years following this date solely for winding down purposes under the General Corporation Law of the State of Delaware (DGCL).

Stockholders of record as of October 30, 2024, receiving distributions

The primary remaining segment is the holders of common stock as of the Effective Date. They are entitled only to receive distributions, if any, as per the Plan of Liquidation and Dissolution.

Creditors with outstanding claims against the dissolving entity

Creditors stand ahead of stockholders in the priority of asset distribution. The final amount available for stockholders depends on the successful discharge of all liabilities.

• Discharge of liabilities is a required activity during the wind-down period.
• The total expected liquidating distribution of $3.25 per share is contingent upon settling all claims.
• The company must account for the amount of taxes due.
• The process must account for unanticipated or contingent liabilities arising hereafter.

Former employees and vendors requiring final settlement

Settlements with former operational partners and staff are embedded within the liabilities that must be discharged before stockholder distributions are finalized. These costs directly impact the final per-share amount.

• Employee costs, including severance payments, are factored into the wind-down expenses.
• Expenses relating to the implementation of the Plan must be settled.

Finance: finalize the reconciliation of final administrative expenses against the $17.2 million Viactiv sale proceeds by next Tuesday.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Cost Structure

The Cost Structure for Guardion Health Sciences, Inc. is now defined by the activities required to execute the Plan of Liquidation and Dissolution, which commenced after the filing of the certificate of dissolution on October 30, 2024. The primary funding source for these wind-down costs is the net proceeds from the sale of the Viactiv brand and business, which was $16,250,000 in net cash, with an additional $225,000 held in escrow.

The liquidation process mandates that administrative expenses and costs related to the liquidation are paid first, before any distributions to creditors or stockholders. The company expects to operate for three years solely to wind down business affairs, settle suits, dispose of property, and discharge liabilities.

The expected magnitude of costs associated with a corporate dissolution, while varying by state and complexity, generally includes several key components. For context, general dissolution filing fees can range from $25 to $200, while hiring professional legal or accounting services for a complex business can cost anywhere from $100 to $1,000 or more.

The Cost Structure elements are focused on final obligations:

• Significant legal and accounting fees for the dissolution process: These cover final SEC filings, tax clearance, and legal finalization of creditor settlements.
• Administrative costs for managing the three-year wind-down period: Covering minimal overhead to preserve asset value and manage ongoing liabilities over the wind-down term.
• Severance and final employee-related expenses: Payments due to departing personnel, prioritized under the General Corporation Law of the State of Delaware.
• Costs associated with discharging remaining liabilities: Settlement of all secured and unsecured creditor claims prior to stockholder distribution.

Here's a look at the known cash flow context surrounding the wind-down costs:

The total operating expenses for the year ended December 31, 2023, were $9,730,834, which provides a baseline for the scale of costs incurred before the formal dissolution. The loss from operations for the first quarter ended March 31, 2024, was $(1,553,801). The final distribution to stockholders is expected to total approximately $3.25 per share of common stock.

The company must satisfy all creditor claims in a specific order of priority, which dictates the final amount available for stockholders.

• Wages, severance allowances, social insurance, and employee benefits are paid first.
• Taxes are settled next.
• Other debts follow.

Finance: review final SEC filing for Q4 2024 to confirm initial accrued wind-down liabilities by end of January.

Guardion Health Sciences, Inc. (GHSI) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Guardion Health Sciences, Inc. as of late 2025, and honestly, the story is dominated by the wind-down following the major asset sale. The business model has fundamentally shifted from product sales to asset realization and distribution.

The most significant financial event driving the current structure was the sale of the Viactiv business. This transaction closed on May 31, 2024, for a gross cash consideration of $17,200,000. You should note the split: the Company received net cash proceeds of $16,250,000 at closing, with an additional $225,000 placed into a third-party escrow account.

Following the sale, Guardion Health Sciences, Inc. moved to liquidate. This is reflected in the December 23, 2024, announcement declaring a cash distribution. This distribution was a dividend of $5.00 Per Share of Common Stock. The filing of the Certificate of Dissolution followed on October 30, 2024. The core of the current financial activity is the management and distribution of these proceeds.

To be fair, the residual revenue streams are now minimal, tied directly to the remaining cash post-distribution and any final asset settlements. Here's a quick look at the key figures that defined this transition:

The remaining potential income sources are small, given the dissolution plan. They center on the interest earned on the cash balance held prior to the final distribution and any small proceeds from the sale of any other residual assets or intellectual property (IP) that hadn't been fully monetized by the end of 2024.

The revenue from continuing operations before the final wind-down was negligible compared to the asset sale. For instance, total revenue for ocular products for the six months ended June 30, 2024, was only $154,037. This contrasts sharply with the $11,907,867 in net revenues generated by the Viactiv product line for the full year ended December 31, 2023.

Your focus for late 2025 revenue streams should be on:

• Interest income earned on the remaining cash balance awaiting final distribution.
• Potential small proceeds from the sale of any other residual assets or IP.
• The final release of funds from the $225,000 escrow account.

Finance: draft final cash reconciliation statement by next Tuesday.