Quarterly ResultMay 15, 2026, 02:13 PM
Bio Essence Q1 Net Income $205K; Revenue Jumps to $500K
AI Summary
Bio Essence Corp. reported a net income of $205,373 for the first quarter ended March 31, 2026, a significant improvement from a net loss of $205,752 in the prior year period. Total revenues surged to $500,537, primarily from OEM services. The company also issued 8.8 million common shares for $440,000 and is actively addressing a going concern issue, seeking new business opportunities and additional financing, while facing a legal dispute over a lease.
Key Highlights
- Net income of $205,373 for Q1 2026, compared to a net loss of $205,752 in Q1 2025.
- Total revenues increased to $500,537 in Q1 2026 from $22,189 in Q1 2025.
- Gross profit rose to $319,353 in Q1 2026 from $20,588 in Q1 2025.
- General and administrative expenses decreased to $102,878 in Q1 2026 from $225,137 in Q1 2025.
- Issued 8,800,000 common shares for $440,000 during the quarter.
- Cash at period end was $36,177, up from $0 at December 31, 2025.
- Accumulated deficit reduced to $(9,347,700) as of March 31, 2026.
- One major customer accounted for 49.9% of total sales in Q1 2026.
Price Impact
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