Quarterly ResultJun 23, 2026, 04:47 PM
Eco Science Solutions Reports Q1 Loss, Going Concern Doubt, Debt Default
AI Summary
Eco Science Solutions, Inc. reported a net loss of $(242,777) for the three months ended April 30, 2026, a reduction from $(273,421) in the prior year. Despite generating its first revenue of $253, the company faces substantial doubt about its ability to continue as a going concern due to an accumulated deficit of $69.5 million and a working capital deficit of $1.4 million. The company also disclosed a 1-for-25 reverse stock split effective May 4, 2026, and a $350,000 note payable to Robbins LLP is in default.
Key Highlights
- Net loss for Q1 2026 was $(242,777), an improvement from $(273,421) in Q1 2025.
- Accumulated deficit reached $69,526,830 as of April 30, 2026.
- Working capital deficit stood at $1,406,185 as of April 30, 2026.
- Company generated first net revenue of $253 in Q1 2026, up from $0 in Q1 2025.
- A 1-for-25 reverse stock split became effective on May 4, 2026.
- A $350,000 note payable to Robbins LLP is in default as of April 30, 2026.
- Cash decreased to $7,833 as of April 30, 2026, from $32,699 on January 31, 2026.
- Related party payables increased to $129,055 as of April 30, 2026.
Price Impact
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