Mon, Sep 16, 4:18 PM (95 days ago)
For the quarter ending July 31, 2024, Everything Blockchain, Inc. reported revenues of $63,000, a slight decline from $66,000 in the prior year. Operating expenses decreased to $1.1 million from $1.5 million, driven by lower stock-based compensation and professional fees. The company experienced a net loss of $1.1 million compared to a loss of $3.1 million in Q2 2023, indicating improved operational performance despite ongoing challenges. Cash flow from operations showed a net usage of $864,000, reflecting ongoing liquidity issues. Total assets decreased to $21.8 million, primarily due to cash depletion. The company’s liabilities rose to $4.2 million from $3.6 million, influenced by increased debt obligations. The firm continues to face uncertainties regarding its ability to sustain operations, relying heavily on shareholder support and potential capital raises. Management acknowledges the need for additional funding to maintain operations over the next year. Overall, while losses are narrowing, the company remains in a precarious financial position with significant reliance on external financing and ongoing operational losses.