Mon, Dec 16, 7:04 PM (205 days ago)
For the quarter ending October 31, 2024, Eco Science Solutions Inc. (ESSI) reported no revenue, consistent with the previous year. Total operating expenses decreased slightly to $256,000 from $276,000, primarily due to reduced management and consulting fees. The net loss narrowed to $275,000 compared to $294,000 in Q4 2023. For the nine-month period, operating expenses were $762,000, down from $909,000, with a net loss of $819,000 against $963,000 in the prior year. As of October 31, 2024, the company faced a working capital deficit of approximately $16 million and an accumulated deficit of $78 million. Total liabilities rose to $16.4 million from $15.6 million, while cash increased to $4,100 from $2,106. The company continues to rely heavily on loans from related parties and has not generated significant revenue, raising doubts about its ability to continue as a going concern. Future operations are contingent on securing financing and achieving profitability.