Fri, Nov 8, 4:35 PM (25 days ago)
BioForce Nanosciences Holdings, Inc. (OTC: BFNH) reported no revenue for Q3 2024, mirroring the same period in 2023, resulting in a net loss of $122,024, slightly higher than the previous year's loss of $113,607. For the nine months ended September 30, 2024, the cumulative net loss reached $367,277, compared to $357,543 in 2023. The company's total assets stood at $1,635, while total liabilities surged to $2,180,067, leading to a stockholders' deficit of $2,178,432. Cash flow from operating activities showed a net outflow of $46,415, indicating ongoing challenges in liquidity. The company continues to rely on loans from officers to sustain operations amid a lack of sales, raising concerns about its ability to continue as a going concern. Future operational success hinges on executing a new marketing strategy aimed at expanding sales of its nutritional supplements. The company acknowledges the need for additional capital to meet its operational requirements and has commitments from its Chairman for financial support.