BioForce Nanosciences Files Q3 2024 10-Q

TL;DR

BFNH filed its Q3 10-Q, showing updated financials for the period ending Sept 30, 2024.

AI Summary

BioForce Nanosciences Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Silver River Ventures, Inc., reported financial data for the third quarter and the first nine months of 2024. Specific financial figures and balance sheet details for various periods are included in the filing.

Why It Matters

This filing provides investors with the latest financial performance and position of BioForce Nanosciences Holdings, Inc., crucial for understanding the company's operational health and future prospects.

Risk Assessment

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

Key Numbers

• 2024-09-30 — Reporting Period End (The company's financial status as of this date is detailed.)
• 2024-11-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• BIOFORCE NANOSCIENCES HOLDINGS, INC. (company) — Filer
• SILVER RIVER VENTURES, INC. (company) — Former Company Name
• 20240930 (date) — Reporting Period End Date
• 20241108 (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
• $113,607 — nd Administrative Expenses, compared to $113,607 for the three months ended September 30

Filing Documents

• bfnh20240930_10q.htm (10-Q) — 290KB
• 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
• 0001091818-24-000134.txt ( ) — 1648KB
• bfnh-20240930.xsd (EX-101.SCH) — 11KB
• bfnh-20240930_cal.xml (EX-101.CAL) — 18KB
• bfnh-20240930_def.xml (EX-101.DEF) — 22KB
• bfnh-20240930_lab.xml (EX-101.LAB) — 146KB
• bfnh-20240930_pre.xml (EX-101.PRE) — 109KB
• bfnh20240930_10q_htm.xml (XML) — 100KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 10 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 14 Item 4.

Controls and Procedures

Controls and Procedures 14 PART II Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A.

Risk Factors

Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 15 Item 4. Mining Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 16

Signatures

Signatures 16 -2-

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS BIOFORCE NANOSCIENCES HOLDINGS, INC. FINANCIAL REPORTS AT September 30, 2024 INDEX TO FINANCIAL STATEMENTS Condensed Consolidated Balance Sheets at September 30, 2024 Unaudited and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 - Unaudited 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 - Unaudited 6 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023-Unaudited 7 Notes to the Condensed Consolidated Unaudited Financial Statements 8-9 -3- BioForce Nanosciences Holdings, Inc., and Subsidiary CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED September 30, December 31, 2024 2023 ASSETS Current Assets Cash $ 1,635 $ 638 Total Current Assets 1,635 638 Total Assets $ 1,635 $ 638 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable and Accrued Expenses $ 6,261 $ 2,649 Accrued Board of Directors Compensation 1,913,767 1,596,517 Due to Related Parties 260,039 220,702 Total Current Liabilities 2,180,067 1,819,868 Total Liabilities 2,180,067 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 158,789,302 158,781,227 Accumulated Deficit ( 160,997,006 ) ( 160,629,729 ) Total Stockholders' Deficit ( 2,178,432 ) ( 1,819,230 ) Total Liabilities and Stockholders' Deficit $ 1,635 $ 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Sales $

MANAGEMENT'S DISCUSSION AND ANALYSIS

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

Management's Discussion and Analysis of Financial Condition and Results of Operations Overall Operating Results: Three Months – September 30, 2024 and 2023 The Sales Revenue from the Company's BioForce Eclipse vitamin supplements for the three months ended September 30, 2024 and for the three months ended September 30, 2023 were $-0- and $-0-, respectively. During the three months ended September 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 September 30, 2024 and 2023 was $-0- . Gross Margins for the three months ended September 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 September 30, 2024 and 2023 was $-0- . Operating expenses for three months ended September 30, 2024 totaled 122,024 from Board of Director compensation and General and Administrative Expenses, compared to $113,607 for the three months ended September 30, 2023. The increase in the three months ended September 30, 2024 compared to the same period ended September 30, 2023 was attributed to higher expenses from professional services rendered. Nine Months – September 30, 2024 and 2023 The Sales Revenue from the Company's "BioForce Eclipse" vitamin supplement for the nine months ended September 30, 2024 and 2023 were $-0-, Company sold no units of its Bioforce Eclipse" vitamin supplement. The Cost of Sales for the nine months ended September 30, 2024 and 2023 were $-0-. Gross Margins for the nine months ended September 30, 2024 and 2023 were 0% from the sale of -0- units of

View Full Filing

View this 10-Q filing on SEC EDGAR