Thu, Jun 20, 10:01 AM (268 days ago)
Bakhu Holdings, Corp.'s Q3 2024 report indicates significant financial challenges. The company reported no revenues for the quarter and a net loss of $906,837, down from $2,142,833 in Q3 2023. Operating expenses decreased to $817,921 from $2,094,796, primarily due to reduced consulting fees. Current assets stand at $151,880, with cash and cash equivalents at $81,519. However, liabilities are substantial, totaling $10,747,336, including $2,933,520 in current liabilities. Notably, the company settled a $623,078 debt for $300,000, recording a gain of $323,078. Despite ongoing efforts to secure additional funding, Bakhu Holdings remains insolvent, with a significant working capital deficit. The company is actively seeking between $9.0 and $19.0 million to fund operations and reduce liabilities.