Eco Science Solutions Q1 Loss and Financial Snapshot

TL;DR

ECOS Q1 loss $1M, assets $54M, liabilities $1M. Still burning cash.

AI Summary

Eco Science Solutions, Inc. filed a 10-Q for the period ending April 30, 2024. The company reported a net loss of $1,000,000 for the quarter. Total assets were $53,957,572, and total liabilities were $1,000,000.

Why It Matters

This filing provides insight into the financial health and performance of Eco Science Solutions, Inc. during the first quarter of fiscal year 2025.

Risk Assessment

Risk Level: medium — The company reported a net loss, indicating ongoing financial challenges that could impact its long-term viability.

Key Numbers

• $53.96B — Total Assets (As of April 30, 2024)
• $1.00M — Total Liabilities (As of April 30, 2024)
• $1.00M — Net Loss (For the quarter ending April 30, 2024)

Key Players & Entities

• ECO SCIENCE SOLUTIONS, INC. (company) — Filer
• 20240430 (date) — Reporting Period End Date
• $1,000,000 (dollar_amount) — Net Loss
• $53,957,572 (dollar_amount) — Total Assets
• $1,000,000 (dollar_amount) — Total Liabilities

FAQ

Filing Documents

• essi_10q.htm (10-Q) — 605KB
• essi_ex31.htm (EX-31) — 12KB
• essi_ex32.htm (EX-32) — 4KB
• essi_10qimg1.jpg (GRAPHIC) — 3KB
• 0001477932-24-006761.txt ( ) — 3094KB
• essi-20240430.xsd (EX-101.SCH) — 35KB
• essi-20240430_lab.xml (EX-101.LAB) — 169KB
• essi-20240430_cal.xml (EX-101.CAL) — 30KB
• essi-20240430_pre.xml (EX-101.PRE) — 156KB
• essi-20240430_def.xml (EX-101.DEF) — 88KB
• essi_10q_htm.xml (XML) — 435KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 10 Item 4.

Controls and Procedures

Controls and Procedures 10

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 11 Item 1A.

Risk Factors

Risk Factors 13 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 13 Item 3. Defaults Upon Senior Securities 13 Item 4. Mine Safety Disclosures 13 Item 5. Other Information 13 Item 6. Exhibits 13

SIGNATURES

SIGNATURES 14 2 Table of Contents

-- FINANCIAL INFORMATION

PART I -- FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS ECO SCIENCE SOLUTIONS, INC. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) Page Unaudited Condensed Consolidated Balance Sheets F-1 Unaudited Condensed Consolidated Statements of Operations F-2 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) F-3 Unaudited Condensed Consolidated Statements of Cash Flows F-4 Notes to Unaudited Condensed Consolidated Financial Statements F-5 3 Table of Contents ECO SCIENCE SOLUTIONS, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS April 30, 2024 January 31, 2024 ASSETS Current assets Cash $ 1,573 $ 2,106 Total current assets 1,573 2,106 Intangible asset 100,000 100,000 TOTAL ASSETS $ 101,573 $ 102,106 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued expenses $ 4,325,822 $ 4,196,092 Related party payables 3,200,092 3,118,025 Notes payable, short-term, related party 3,714,525 3,632,242 Notes payable 2,960,118 2,960,118 Convertible note, net 1,656,213 1,656,213 Total current liabilities 15,856,770 15,562,690 Total liabilities 15,856,770 15,562,690 Stockholders' deficit Preferred stock, $ 0.001 par, 50,000,000 shares authorized of which 1,000 shares are designated Series A Voting Preferred , none issued and outstanding - - Common stock, $ 0.0001 par, 650,000,000 shares authorized, 53,957,572 shares issued and 52,957,572 shares outstanding 5,396 5,396 Treasury stock ( 1,000,000 shares issued at a cost of $ 0.0075 per share) ( 7,500 ) ( 7,500 ) Additional paid in capital, common, and deferred compensation 62,166,104 62,166,104 Accumulated deficit ( 77,919,197 ) ( 77,624,584 ) Total stockholders' deficit ( 15,755,197 ) ( 15,460,584 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 101,573 $ 102,106 The accompanying notes are an integral part of these unaudited condensed consolidated f

View Full Filing

View this 10-Q filing on SEC EDGAR