Mdwerks Inc (OTC QB: MDWK) is a holding company operating two distinct businesses: Two Trees Distilling, a craft spirits producer, and RF Specialties, a radio frequency services and equipment business. Revenue comes from product sales of branded distilled spirits, barrel sales, a Whiskey-as-a-Service (WaaS) offering through Two Trees, and contract-based services through RF Specialties. Two Trees Distilling carries 12 trademarks (as of the filing date) covering distilled spirits, apparel, and related goods, and sells brands including Climax Wood-Fired Whiskey and the Tim Smith Southern Reserve line. RF Specialties secured a materials and services contract (MSDS contract) beginning November 2024. Combined cost of sales was $2,564,857 for the year ended December 31, 2025, up from $1,490,064 for the year ended December 31, 2024. The company trades on the OTC QB Market under the symbol MDWK and had approximately 220 record holders of common stock as of March 23, 2026. It has not paid dividends since inception and funds operations through equity and debt financing.

Revenue model

Transactional revenue from branded spirits product sales, barrel sales, and a Whiskey-as-a-Service (WaaS) offering through Two Trees Distilling; contract-based service and equipment revenue through RF Specialties, including an ongoing MSDS contract active since November 2024.

Products and services

Two Trees Distilling brands: Climax Wood-Fired Whiskey, Climax Honey Raspberry, Tim Smith Southern Reserve Bourbon, Tim Smith Southern Reserve Rye, Tim Smith Southern Reserve Whiskey, and a wood-crafted Appalachian white oak chip whiskey portfolio. Whiskey-as-a-Service (WaaS) revenue stream. RF Specialties provides radio frequency services and equipment, including under an MSDS contract.

Customers and end markets

Consumer end market for craft and flavored American whiskey and bourbon. Commercial and government or institutional customers for RF Specialties radio frequency services based on the MSDS contract structure. No specific customer concentration data disclosed in the filing excerpts.

Value-chain role

Producer and brand owner in craft distilled spirits; service and equipment provider in the RF specialties segment. Holds 12 trademarks for its spirits and related product categories as of the filing date.

Geographic exposure

Appalachian-sourced ingredients noted for Two Trees Distilling brands. No specific geographic revenue breakdown disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-03-31

Industry: Beverages Peers: Bryn Inc eWELLNESS HEALTHCARE Corp