Green Planet Bioengineering Co., Ltd. reported its financial results for the first quarter of 2025, revealing a net loss of $6,840, compared to a loss of $6,465 in the same period of 2024. The company's administrative expenses increased slightly from $6,465 to $6,840 year-over-year. The financial statements indicate that the company has not generated any revenue, reflecting its status as a public reorganized shell corporation with no active business operations.
The balance sheet as of March 31, 2025, shows total current liabilities of $471,974, a slight increase from $465,134 at the end of 2024. The company continues to rely on financial support from a related party, with amounts due to this entity totaling $466,549 as of the reporting date. This reliance raises concerns about the company's ability to continue as a going concern, as it has a working capital deficit and an accumulated deficit of $1,101,594.
In terms of operational metrics, Green Planet Bioengineering has maintained a consistent number of shares outstanding, with 20,006,402 common shares issued and outstanding as of both March 31, 2025, and December 31, 2024. The company has not issued any preferred stock, and there are no significant changes in its stockholder structure. The lack of active operations means that there are no customer counts or product adoption rates to report, and the company remains focused on identifying potential business opportunities for future growth.
Looking ahead, Green Planet Bioengineering's management has indicated that the company will continue to seek adequate funding from investors to pursue business opportunities as they arise. However, the success of these efforts is contingent upon market conditions and the ability to secure financing. The company has acknowledged the substantial doubt regarding its ability to continue operations without ongoing support from its majority stockholder, emphasizing the need for strategic decisions to address its financial challenges.
Overall, the financial results for the first quarter of 2025 reflect the ongoing challenges faced by Green Planet Bioengineering as it navigates its status as a shell corporation. The company remains focused on potential acquisitions or mergers, but its future performance will depend heavily on securing necessary funding and identifying viable business opportunities in the coming months.
About Green Planet Bio Engineering Co. Ltd.
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