BioForce Nanosciences Reports No Revenue and Increased Losses for Fiscal Years 2023 and 2024

BioForce Nanosciences Holdings, Inc. reported no revenue for the fiscal years ending December 31, 2024, and December 31, 2023, as the company continues to struggle with sales of its nutritional supplement product, BioForce Eclipse. The company has not recorded any unit sales during these periods, resulting in a gross profit of $0. General and administrative expenses increased to $67,437 in 2024 from $48,953 in 2023, primarily due to higher professional service fees. Consequently, the net loss for 2024 was $490,437, compared to a loss of $471,953 in the previous year, reflecting an increase in operational costs.

The company has undergone significant changes in its business model, shifting from manufacturing nano-particular measurement devices to focusing on the nutritional supplement market since 2015. BioForce aims to establish itself as a leading provider of vitamins, minerals, and other nutritional products. The company is currently implementing a marketing campaign to enhance brand awareness and drive sales through various retail channels, including supermarkets, sporting goods stores, and online platforms. Despite these efforts, BioForce reported no customers during the 2022 and 2023 fiscal years, indicating challenges in customer acquisition and market penetration.

Operationally, BioForce has maintained a small workforce, consisting of three full-time employees, and is headquartered in Virginia Beach, Virginia. The company is actively seeking to expand its market presence, particularly through its BioForce Eclipse product line, which is marketed as a blend of amino acids and vitamins aimed at health-conscious consumers. The company plans to leverage direct marketing and B2B sales strategies to reach potential customers, including gyms and health clubs, while also exploring environmentally friendly packaging options to attract eco-conscious buyers.

Financially, BioForce faces significant challenges, with total liabilities amounting to $2,302,454 and an accumulated deficit of $161,120,166 as of December 31, 2024. The company’s cash position is precarious, with only $862 in assets, raising substantial doubt about its ability to continue operations without additional funding. Management has indicated a reliance on debt and equity financing to support its business plan, and there is an oral commitment from the Chairman to provide necessary funds. However, the company acknowledges that its ability to raise capital and generate revenue remains uncertain.

Looking ahead, BioForce Nanosciences Holdings, Inc. is focused on executing its marketing strategy and expanding its product offerings to improve its financial performance. The company recognizes the competitive landscape of the nutritional supplement industry and aims to differentiate itself through quality and customer engagement. However, the lack of sales and ongoing financial losses highlight the need for effective execution of its business plan to achieve sustainable growth and profitability in the future.