Goldenwell Biotech, Inc. reported its financial results for the first quarter of 2025, revealing no revenue generated during the period, consistent with the same quarter in 2024. The company recorded a net loss of $34,377 for the three months ended March 31, 2025, compared to a loss of $31,056 in the prior year. Operating expenses increased to $32,277 from $28,956, primarily due to higher general and administrative costs. As of March 31, 2025, the company had total assets of $191,915, a decrease from $224,192 at the end of 2024, largely attributed to a reduction in cash reserves.
The company's financial position reflects ongoing challenges, with an accumulated deficit of $1,394,022 as of March 31, 2025, up from $1,359,645 at the end of the previous fiscal year. Total liabilities increased slightly to $273,533, while stockholders' equity fell to a deficit of $81,618. The company continues to rely on related-party loans, with $95,588 owed to its CEO and Director, which has remained unchanged since December 31, 2024.
Goldenwell Biotech has not made significant operational advancements, as it has yet to launch any products or expand its market presence. The company remains in the development stage, focusing on research and development of healthcare and supplement products. Management has indicated that substantial capital is required to establish manufacturing facilities and train a workforce, estimating a need for approximately $5 million to complete these activities. The timeline for these developments is projected to take about one year, contingent on securing the necessary funding.
Looking ahead, Goldenwell Biotech's ability to continue as a going concern is uncertain, as it has not generated any revenue and has incurred recurring losses. The company plans to raise additional funds through debt or equity offerings, although there is no guarantee of success in these efforts. Management has expressed that the continuation of operations is dependent on the ability to generate revenues and secure capital from third parties. The company’s cash balance as of March 31, 2025, stood at $17,127, which is expected to cover operational expenses through the end of the fiscal year.
About GOLDENWELL BIOTECH, INC.
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