Zeo ScientifiX Files 10-Q for July 2024 Period

TL;DR

Zeo ScientifiX 10-Q filed. Financials for Q3 FY24 out.

AI Summary

Zeo ScientifiX, Inc. filed its 10-Q for the period ending July 31, 2024. The company, formerly known as Organicell Regenerative Medicine, Inc., is in the biological products sector. The filing covers financial information and business operations for the specified period.

Why It Matters

This filing provides investors with an update on Zeo ScientifiX's financial health and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with its financial performance and market position.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the end of the financial reporting period covered by the 10-Q.)
• 2024-09-16 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Zeo ScientifiX, Inc. (company) — Filer of the 10-Q
• Organicell Regenerative Medicine, Inc. (company) — Former name of Zeo ScientifiX, Inc.
• 20240731 (date) — End of the reporting period
• 20240916 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — Section 12(g) of the Act: Common Stock, $0.001 par value Indicate by check mark wheth

Filing Documents

• zeoscientifix_10q.htm (10-Q) — 669KB
• zeoscientifix_ex31-1.htm (EX-31.1) — 15KB
• zeoscientifix_ex32-1.htm (EX-32.1) — 5KB
• 0001829126-24-006296.txt ( ) — 4227KB
• zeox-20240731.xsd (EX-101.SCH) — 50KB
• zeox-20240731_cal.xml (EX-101.CAL) — 54KB
• zeox-20240731_def.xml (EX-101.DEF) — 162KB
• zeox-20240731_lab.xml (EX-101.LAB) — 285KB
• zeox-20240731_pre.xml (EX-101.PRE) — 262KB
• zeoscientifix_10q_htm.xml (XML) — 508KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 29 Item 4.

Controls and Procedures

Controls and Procedures. 29 PART II OTHER INFORMATION Item 1. Legal Proceedings. 30 Item 1A. Risk Factors. 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 30 Item 3. Defaults Upon Senior Securities. 30 Item 4. Mine Safety Disclosures. 30 Item 5. Other Information. 30 Item 6. Exhibits. 31

Signatures

Signatures 32 i Unless stated otherwise, the words "we," "us," "our," the "Company" or "ZEO" in this Quarterly Report on Form 10-Q (this "Report") refer to Zeo ScientifiX, Inc. (f/k/a Organicell Regenerative Medicine, Inc.), a Nevada corporation, and its subsidiaries. Cautionary Note Regarding Forward- Looking Statements The statements contained in this Report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. Statements using words such as "may," "could," "should," "expect," "plan," "project," "strategy," "forecast," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursue," "target," "continue," or similar expressions help identify forward-looking statements. The forward-looking statements contained in this Report are largely based on our expectations, which reflect estimates and assumptions made by our management. These estimates and assumptions reflect our best judgment based on currently known market conditions and other factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a number of risks and uncertainties that are beyond our control. In addition, management's assumptions about future events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this Report are not guarantees of future performance, and management cannot assure any reader that such statements will be realized or the forward-looking events and circumstances will in fact occur. The Company's actual results may differ materially from those anticipated, estimated, projected or expected by management. All forward-looking statements speak only as of t

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Zeo ScientifiX, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts rounded to the nearest thousand except share amounts) July 31, 2024 October 31, 2023 (Unaudited) ASSETS Current Assets Cash $ 1,105,000 $ 1,756,000 Accounts receivable, net of allowance for bad debts 19,000 18,000 Other receivables 12,000 12,000 Prepaid expenses 339,000 106,000 Inventories 250,000 310,000 Total Current Assets 1,725,000 2,202,000 Property and equipment, net 496,000 573,000 Security deposits - 7,000 TOTAL ASSETS $ 2,221,000 $ 2,782,000 LIABILITIES, SHARES SUBJECT TO POSSIBLE REDEMPTION AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable and accrued expenses $ 1,850,000 $ 2,612,000 Advances payable to former officer - 221,000 Finance lease obligations 5,000 23,000 Convertible promissory note, net of debt discount of $ 51,000 and $ 68,000 674,000 657,000 Deferred revenue 1,105,000 497,000 Total Current Liabilities 3,634,000 4,010,000 Long term finance lease obligations 9,000 13,000 Total Liabilities 3,643,000 4,023,000 Commitments and contingencies Shares Subject To Possible Redemption Series C Preferred Stock, $ 0.001 par value, 100 shares authorized; 100 and 100 shares issued and outstanding, respectively - - Stockholders' Deficit Common stock, $ 0.001 par value, 2,500,000,000 shares authorized; 6,582,419 and 7,283,483 shares issued and outstanding, respectively 6,000 7,000 Additional paid-in capital 59,531,000 56,260,000 Accumulated deficit ( 60,959,000 ) ( 57,508,000 ) Total Stockholders' Deficit ( 1,422,000 ) ( 1,241,000 ) TOTAL LIABILITIES, SHARES SUBJECT TO POSSIBLE REDEMPTION AND STOCKHOLDERS' DEFICIT $ 2,221,000 $ 2,782,000 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Zeo ScientifiX, Inc. CONDENSED CONSO

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