Quarterly ResultJun 26, 2026, 05:26 PM
Goldenwell Biotech Reports Q2 Net Loss of $30.3K; Going Concern Doubt
AI Summary
Goldenwell Biotech, Inc. reported a net loss of $30,300 for the three months ended June 30, 2025, and $68,836 for the six months ended June 30, 2025. The company continues to face substantial doubt about its ability to continue as a going concern due to recurring losses and minimal revenues. Management also disclosed that its disclosure controls and procedures were not effective and that prior period financial statements were restated due to accounting errors.
Key Highlights
- Company faces substantial doubt about its ability to continue as a going concern.
- Prior period financial statements were restated due to accounting errors.
- Disclosure controls and procedures were deemed ineffective as of March 31, 2025.
- Net loss for Q2 2025 was $30,300, compared to $49,920 in Q2 2024.
- Sales revenue for H1 2025 was $0, down from $297 in H1 2024.
- Cash balance as of June 30, 2025, was $76,507.
- Working capital deficit was $(306,886) as of June 30, 2025.
- Company requires approximately $5,000,000 for manufacturing facilities and training.
Price Impact
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