Wed, Nov 27, 8:21 PM (82 days ago)
**Bio Essence Corp. (Ticker: N/A) - Q1 2024 Financial Summary** Bio Essence Corp. reported a net loss of $133,939 for Q1 2024, a significant improvement compared to a loss of $178,836 in Q1 2023. The company had no revenue from continuing operations, with total revenues from discontinued operations at $153,865, down from $341,329 in the prior year. Operating expenses surged to $151,828, primarily due to increased general and administrative costs driven by higher rent and licensing fees. The balance sheet shows total assets decreased to $2,254,832 from $2,758,580, while total liabilities also fell to $3,781,187 from $4,418,874, reflecting the recent divestitures of subsidiaries BEP and BEH. Cash and equivalents stood at $23, indicating liquidity challenges, with a working capital deficit of $2,021,158. The company is pursuing strategies to enhance revenue, including strengthening its sales force and exploring financing options. However, uncertainties regarding future operations and market conditions pose risks to its financial stability. Management expressed concerns about going concern status due to accumulated deficits of $9,006,535. This amendment primarily updates disclosures on internal controls, with no significant changes to financial figures.