Fri, Mar 14, 9:01 PM (42 days ago)
Odyssey Health, Inc. (ODYY) reported a net loss of 220,126 thousand for the three months ended January 31, 2025, compared to a net income of 13,214,111 thousand for the same period in 2024. The company's revenue remained at zero, with no significant changes in its financial health. Operating expenses decreased by 72% to 120,462 thousand, primarily due to reductions in business development, consulting fees, insurance, legal fees, and wages. The company's cash flow from operations was negative 295,192 thousand, with a total cash balance of 7,187 thousand at the end of the period. Odyssey Health's stockholders' deficit increased to 6,462,820 thousand, reflecting ongoing operating losses and negative cash flows. The company's future operations are uncertain, with a going concern note indicating substantial doubt about its ability to continue as a going concern. Odyssey Health has been extending debt maturities and issuing new debt to manage its liquidity, but these actions may not be sufficient to sustain operations. The company's financial statements include material weaknesses in internal control over financial reporting, which could impact the reliability of its financial information.