BioForce Nanosciences Files Q2 2024 10-Q

TL;DR

**BFNH Q2 10-Q filed. Financials and ops update.**

AI Summary

BioForce Nanosciences Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Specific financial figures and business developments are outlined within the report.

Why It Matters

This filing provides investors with an update on BioForce Nanosciences' financial health and operational progress during the second quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's current financial health and future prospects.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240807 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• BIOFORCE NANOSCIENCES HOLDINGS, INC. (company) — Filer of the 10-Q
• SILVER RIVER VENTURES, INC. (company) — Former company name
• 20240630 (date) — End of reporting period
• 20240807 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — Exchange Act: Common stock, par value $0.001 per share (Title of class) Indicate
• $2 billion — tal executive who has created well over $2 billion of revenue for various companies includ
• $114,440 — hree months ended June 30, 2024 totaled $114,440 from Board of Director compensation and
• $113,931 — nd Administrative Expenses, compared to $113,931 for the three months ended June 30, 202
• $245,253 — six months ended June 30, 2024, totaled $245,253 for Board of Director Compensation and
• $243,936 — nd Administrative Expenses, compared to $243,936 for the six months ended June 30, 2023.

Filing Documents

• bfnh20240630_10q.htm (10-Q) — 269KB
• ex311.htm (EX-31.1) — 5KB
• ex312.htm (EX-31.2) — 5KB
• ex321.htm (EX-32.1) — 2KB
• ex322.htm (EX-32.2) — 2KB
• bfnhlogo2019001.jpg (GRAPHIC) — 21KB
• 0001091818-24-000085.txt ( ) — 1433KB
• bfnh-20240630_cal.xml (EX-101.CAL) — 18KB
• bfnh-20240630_def.xml (EX-101.DEF) — 19KB
• bfnh-20240630_lab.xml (EX-101.LAB) — 101KB
• bfnh-20240630_pre.xml (EX-101.PRE) — 73KB
• bfnh-20240630.xsd (EX-101.SCH) — 11KB
• bfnh20240630_10q_htm.xml (XML) — 89KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 15 PART II Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 17 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mining Safety Disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 17

Signatures

Signatures 17 -2-

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS BIOFORCE NANOSCIENCES HOLDINGS, INC. FINANCIAL REPORTS AT JUNE 30, 2024 INDEX TO FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets at June 30, 2024 Unaudited and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 - Unaudited 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 - Unaudited 6 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023-Unaudited 7 Notes to the Condensed Consolidated Unaudited Financial Statements 8-10 -3- BioForce Nanosciences Holdings, Inc., and Subsidiary CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED June 30, December 31, 2024 2023 ASSETS Current Assets Cash $ 667 $ 638 Total Current Assets 667 638 Total Assets $ 667 $ 638 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable and Accrued Expenses $ 5,429 $ 2,649 Accrued Board of Directors Compensation 1,808,017 1,596,517 Due to Related Parties 251,629 220,702 Total Current Liabilities 2,065,075 1,819,868 Total Liabilities 2,065,075 1,819,868 Stockholders' Deficit Common Stock - $ 0.001 Par; 900,000,000 Shares Authorized, 29,271,755 Issued and Outstanding, Respectively 29,272 29,272 Additional Paid-In-Capital 158,781,302 158,781,227 Accumulated Deficit ( 160,874,982 ) ( 160,629,729 ) Total Stockholders' Deficit ( 2,064,408 ) ( 1,819,230 ) Total Liabilities and Stockholders' Deficit $ 667 $ 638 The accompanying notes are an integral part of these condensed consolidated financial statements. -4- BioForce Nanosciences Holdings, Inc., and Subsidiary CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Sales $ - $ - $ - $ - Cost of Sales - - - - Gro

MANAGEMENT'S DISCUSSION AND

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following information should be read in conjunction with our financial statements and related notes thereto included in Part I, Item 1, above.

Forward Looking Statements

Forward Looking Statements Certain matters discussed herein are forward-looking our future strategic plans our future operating results; our business prospects; our contractual arrangements and relationships with third parties; the dependence of our future success on the general economy; our possible future financing; and the adequacy of our cash resources and working capital. From time to time, we or our representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but not limited to, press releases, oral statements made with the approval of an authorized executive officer or in various filings made by us with the Securities and Exchange Commission. Words or phrases "will likely result", "are expected to", "will continue", "is anticipated", "estimate", "project or projected", or similar expressions are intended to identify "forward-looking important factors that could cause actual results to differ materially from such forward-looking statements. The risks identified here are not all inclusive. New risk factors emerge from time to time and it is not possible for management to predict all of such risk factors, nor can it assess the impact of all such risk factors on the company's business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results. The financial information set forth in the following discussion should be read with the financial statements of BioForce NanoSciences Holdings, Inc. included elsewhere herein

Business

Business BioForce Nanosciences Holdings, Inc. ("BioForce or the "Company") was previously in the business of manufacturing nano-particular measurement devices and molecular printers, but due to a lack of profitability, the subsidiary of the company that owned that technology filed for bankruptcy. That subsidiary and related technology was later bought out of bankruptcy by an unrelated third party. Subsequently, new management came into the Company to pursue a better business model and now the Company's mission is to become a leading provider of natural vitamins, minerals and other nutritional supplements, powders and beverages, formulated to promote a healthier lifestyle for active individuals in all age ranges. The Company private labels products with key distributors and manufacturing providers. BioForce entered into the supplement business in or about 2015. These supplements, powders and beverages offer vitamins and minerals to complement a healthy intake of protein and carbohydrates for active individuals and participants in sports. BioForce recently changed its business plan and it is in the process of establishing a dynamic marketing campaign to achieve brand awareness of its product offerings to drive business growth through sales of nutrition supplements to retailers, sporting goods retailers, supermarkets, mass merchandisers, and online. BioForce currently markets its products through social media and telemarketing. The Company plans to expand marketing efforts with a direct marketing and B2B (Business to Business) sales campaign, with the eventual expectation to expand throughout the entire United States. The Company proactively seeks to expand its "BioForce Eclipse" nutritional powder for use into households throughout the U.S., and the Company will approach retail stores, including health food and sporting goods stores to create a vendor relationship. During this phase, the Company will continue to try to advance its social media platform with direc

Management's Discussion and Analysis of Financial Condition and

Management's Discussion and Analysis of Financial Condition and Results of Operations Overall Operating Results: Three Months – June 30, 2024 and 2023 Statements The Sales Revenue from the Company's BioForce Eclipse vitamin supplements for the three months ended June 30, 2024 and for the three months ended June 30, 2023 were $-0- and $-0-, respectively. During the three months ended June 30, 2024 and 2023 the Company received no orders, -0- units of its Bioforce Eclipse supplement product. The Cost of Goods Sold for the three months ended June 30, 2024 and 2023 was $-0- . Gross Margins for the three months ended June 30, 2024 and 2023 was 0% from the sale of -0- units of the BioForce Eclipse supplement product. Gross Profit for the three months ended June 30, 2024 and 2023 was $-0- . Operating expenses for three months ended June 30, 2024 totaled $114,440 from Board of Director compensation and General and Administrative Expenses, compared to $113,931 for the three months ended June 30, 2023. The increase in the three months ended June 30, 2024 compared to the same period ended June 30, 2023 was attributed to higher expenses from professional services rendered. Six Months – June 30, 2024 and 2023 Statements The Sales Revenue from the Company's "BioForce Eclipse" vitamin supplement for the six months ended June 30, 2024 and 2023 were $-0-, Company sold no units of its Bioforce Eclipse" vitamin supplement. The Cost of Sales for the six months ended June 30, 2024 and 2023 were $-0-. Gross Margins for the six months ended June 30, 2024 and 2023 were 0% from the sale of -0- units of the "BioForce Eclipse" supplement product. Gross Profit for the six months ended June 30, 2024 and 2023 were $-0-. Operating expenses for six months ended June 30, 2024, totaled $245,253 for Board of Director Compensation and General and Administrative Expenses, compared to $243,936 for the six months ended June 30, 2023. The increase in the six months ended June 30, 2024 com

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View this 10-Q filing on SEC EDGAR