Bakhu Holdings Reports Continued Net Loss and Seeks $8.5 Million in Capital

Bakhu Holdings, Corp. has reported its financial results for the three and nine months ended April 30, 2025, revealing a continued lack of revenue generation. The company reported a net loss of $483,981 for the three months, a decrease from a loss of $906,837 in the same period the previous year. For the nine months, the net loss was $1,855,836, down from $2,158,995 in the prior year. The reduction in losses is attributed to decreased operating expenses, which fell to $1,531,170 from $2,252,518 year-over-year, primarily due to lower consulting fees and professional expenses.

The company's total assets as of April 30, 2025, were $2,041, a significant decline from $25,461 reported on July 31, 2024. Current liabilities increased to $3,463,846 from $2,846,464, leading to a working capital deficit of $3,461,805. The accumulated deficit has grown to $52,766,993, reflecting the ongoing challenges in achieving operational viability. Bakhu has not generated any revenue since its inception, and its operations have been severely impacted by the resignation of all officers and directors in January 2025, which led to a cessation of activities.

Strategically, Bakhu has faced setbacks in its efforts to commercialize its licensed cannabis technology. The company had previously acquired a license from Cell Science Holding Ltd. for the production of cannabinoids but has struggled to meet operational objectives. In December 2023, Bakhu reached a settlement with VO Leasing Corp. regarding its laboratory space, but subsequently defaulted on the agreement and abandoned the facility. The company has also been involved in legal disputes related to its licensing agreements, which may further complicate its operational recovery.

Looking ahead, Bakhu Holdings is actively seeking to raise approximately $8.5 million in external capital to fund its activities over the next 12 months, including securing a new laboratory facility and equipment. The company has indicated that it will need to negotiate with creditors to extend or reduce payments on its liabilities, which are primarily past due. Management has expressed uncertainty about its ability to continue as a going concern, emphasizing the need for additional capital and operational restructuring to achieve future profitability.