Eco Science Solutions, Inc. (ESSI) reported no revenue for the fiscal years ending January 31, 2025, and 2024, maintaining a consistent trend of zero revenue generation. The company’s total operating expenses decreased from $1,170,023 in 2024 to $1,025,139 in 2025, primarily due to reduced management and consulting fees, which fell from $592,000 to $503,281. The net loss for the fiscal year 2025 was $1,101,688, a decrease from the previous year's loss of $1,242,268, attributed to lower expenditures in research and development and management fees. As of January 31, 2025, the company had total current assets of $7,272, including $2,817 in cash.
In terms of operational changes, Eco Science Solutions has focused on enhancing its cloud-based ERP platform, Herbo, and its financial services platform, Herbo Pay. The company aims to cater to regulated industries, including cannabis and gaming, by providing comprehensive business solutions. Despite these developments, the company has not yet secured any financing or generated revenue, which raises concerns about its ability to continue as a going concern. The company’s accumulated deficit stood at $78,726,272 as of January 31, 2025.
Strategically, Eco Science Solutions has undergone significant organizational changes, including the appointment of Michael Rountree as CEO and CFO in January 2021. The company has also engaged in asset acquisitions, such as the purchase of an enterprise software platform from Haiku, which is intended to enhance its service offerings. However, the company has faced challenges in expanding its user base and generating revenue, as it currently has only three employees and relies heavily on loans from its CEO for operational funding.
Looking ahead, Eco Science Solutions acknowledges the need for additional capital to support its operations and growth initiatives. The company plans to continue seeking financing through loans and equity sales, although it faces uncertainty regarding the availability of such funding. The management has indicated that without significant revenue generation or financing, the company may not be able to sustain its operations. The outlook remains cautious, with the company emphasizing the importance of securing financial support to implement its business strategy effectively.
About ECO SCIENCE SOLUTIONS, INC.
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