The Florida-incorporated company, formerly known as MedX Back Pain Clinics, is accepting subscriptions as small as $500 and counts mostly non-accredited backers among its early supporters.

May 20, 2026

Medical Exercise Inc., a Florida-incorporated company operating out of Regina, Saskatchewan, has notified federal regulators of an ongoing equity offering that has raised $110,500 toward a $1 million target. The company, previously known as MedX Back Pain Clinics Inc., disclosed the details in a Form D submitted to the Securities and Exchange Commission and signed by President Matthew John Degelman on May 19, 2026.

A Reg D 506(b) Raise With a Long Runway

The offering relies on Rule 506(b) of Regulation D, the most widely used private placement exemption from federal registration requirements. The first sale occurred on May 2, 2025, and the notice indicates the capital raise is expected to extend beyond one year.

Ten investors have participated in the offering so far, with $889,500 remaining to be sold to reach the stated maximum. Of particular note, eight of those ten investors do not meet the accredited investor standard — a heavy concentration of non-accredited participants for a 506(b) deal. The exemption caps non-accredited investor participation at 35 per offering and requires those investors to meet specific sophistication thresholds along with enhanced disclosure delivery.

A $500 Entry Point Aimed at Smaller Backers

The minimum subscription accepted from any outside investor is set at $500, an unusually low threshold compared with the five- and six-figure minimums typical of most private placements. That low entry point, combined with the heavy reliance on non-accredited capital, suggests the company is drawing from a network of smaller individual backers rather than institutional or high-net-worth allocators.

Key terms disclosed in the notice include:

• Total offering amount: $1,000,000
• Amount sold to date: $110,500
• Minimum investment: $500
• Investors to date: 10 (eight non-accredited)
• Sales commissions and finders’ fees: none
• State of solicitation: Florida

Corporate Background and Leadership

The issuer is organized as a corporation under Florida law and was incorporated in 2023. Its principal place of business sits at 4057 Albert Street in Regina, Saskatchewan. The securities being offered are equity instruments, and the notice indicates the offering is not being conducted in connection with a merger, acquisition, exchange offer, or other business combination transaction. None of the proceeds are earmarked for payments to executive officers, directors, or promoters.

Matthew John Degelman is identified as an executive officer, director, and promoter of the company, and is the sole related person named. No broker-dealer is involved in distributing the securities, and no sales-compensation recipients are listed.

A Brand Repositioning Behind the Raise

The renaming of the entity from MedX Back Pain Clinics Inc. to Medical Exercise Inc. — captured in the previous-names field on the cover — points to a broader repositioning. The MedX brand has historically been associated with medical strength-testing and rehabilitation equipment focused on spinal and lumbar conditions, and the move to the more general Medical Exercise Inc. moniker may reflect either an expansion of the company’s intended scope of activity or a corporate restructuring tied to the capital raise.

What the Filing Signals

Form D notices serve as the federal mechanism for documenting offerings conducted in reliance on Regulation D exemptions. They do not require pre-clearance from the SEC and do not constitute approval or endorsement of the underlying securities, but they do provide a public window into private capital formation that would otherwise be difficult to track. For an early-stage company such as Medical Exercise Inc., the document represents one of the few publicly available data points about the trajectory of the business.

The $110,500 raised so far represents roughly 11 percent of the disclosed target, leaving the bulk of the capital-raising work still ahead. Whether the offering continues to draw primarily from non-accredited individual investors, or widens to include accredited and institutional participants as it matures, will likely shape the eventual composition of the company’s cap table and the disclosure obligations it must carry forward.