Tue, Apr 8, 7:52 PM (19 days ago)
**BioForce Nanosciences Holdings, Inc. (BFNH) FY 2024 Financial Summary** **Financial Performance:** - **Revenue:** $0 for both 2024 and 2023. - **Net Income:** Net loss of $490,437 in 2024 and $471,953 in 2023. - **Operating Expenses:** $490,437 in 2024, up from $471,953 in 2023, primarily due to increased general and administrative expenses. - **Earnings per Share:** Net loss per share of $0.02 for both 2024 and 2023. **Strategic Overview:** - BioForce aims to become a leading provider of natural vitamins, minerals, and nutritional supplements. - The company plans to expand its marketing efforts through direct marketing, B2B sales, and social media campaigns. - BioForce targets various retail channels, including supermarkets, sporting goods retailers, and online platforms. **Future Outlook:** - The company faces significant financial challenges, including substantial accumulated deficits and a lack of revenue. - BioForce plans to raise additional funds through debt or equity financing to support its operations and business plan. - The company's ability to continue as a going concern is dependent on its ability to generate revenues and secure additional financing. **Risk Factors:** - BioForce operates in a highly competitive market with reputable players. - The company's financial condition raises substantial doubt about its ability to continue as a going concern. - BioForce relies on third-party manufacturers and distributors, which poses risks related to supply chain issues and dependence on key personnel. **Financial Condition:** - As of December 31, 2024, BioForce had total assets of $862 and total liabilities of $2,302,454. - The company had an accumulated deficit of $161,120,166 and a working capital deficit of $2,301,592. - BioForce has no significant cash reserves and is dependent on additional financing to support its operations. **Market Position Changes:** - BioForce's common stock is traded on the OTCPINK under the symbol "BFNH." - The company has a limited trading market for its preferred stock. - BioForce has a small number of stockholders, with approximately 235 stockholders of record as of December 31, 2024. **Key Financial Metrics (in thousands):** - **Total Assets:** $0.862 (2024), $0.638 (2023) - **Total Liabilities:** $2,302.454 (2024), $1,819.868 (2023) - **Accumulated Deficit:** $161,120.166 (2024), $160,629.729 (2023) - **Net Cash Used in Operations:** $61.250 (2024), $46.702 (2023) - **Net Cash Provided by Financing Activities:** $61.474 (2024), $46.606 (2023)