10-Q - Everything Blockchain, Inc. (0001730869) (Filer)

Fri, Jun 14, 3:03 PM (37 days ago)

Everything Blockchain, Inc. (EBI) reported a net loss of $1.4 million for the quarter ended April 30, 2024, compared to a net loss of $1.8 million in the same period of 2023. Revenue remained stable at $63,000, primarily from consulting services. Operating expenses decreased slightly to $1.4 million from $1.6 million, driven by reductions in stock-based compensation and general administrative costs. Cash flow from operating activities was negative at $415,000, with the company funding its operations through debt and equity financing, including several stock issuances. Current liabilities increased to $4.0 million, primarily due to higher accounts payable and accrued expenses. The company faces significant uncertainties regarding its ability to continue as a going concern and is actively seeking additional financing to sustain operations.